Cambridge Technology Enterprises has informed that the board in its meeting held on November 26, 2009, has approved a definitive agreement to acquire Smartshift, a software consulting firm headquartered in Germany. Smartshift is focused on IP-based migration of legacy and SAP applications. Smartshift uses patented and proprietary tools and processes which make Smartshift highly competitive. The said acquisition is subject to completion of all necessary documentation, approvals from shareholders and from regulatory authorities.
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