Symphony inks agreement to acquire Proteans Software Solutions

BANGALORE: Symphony Service Corp, global software product engineering services firm, on Wednesday announced that it has entered into an agreement to acquire Proteans Software Solutions.

Proteans, a Bangalore-based Outsourced Product Development (OPD) player provides software engineering services to ISVs, SaaS companies, internet businesses and R&D organizations of global companies.

"Proteans is a perfect fit for Symphony Services. We continue to strengthen our presence in the small to medium ISV space which is estimated at $ 25 Bn and growing at a rate higher than the rest of the market. The acquisition will bolster our offerings, especially in Product Lifecycle Management and Total Quality" said Dr Pallab Chatterjee, Chairman & CEO, Symphony Services.

"As part of our inorganic roadmap, Proteans' world-class capabilities integrated with Symphony Services strengths in core engineering product development will enable us to offer a comprehensive portfolio by strengthening and adding offerings to our clients", he said.