Cambridge Technology Partners
| Industry | Business Consulting, Technology, Outsourcing Services |
|---|---|
| Founded | 1991 |
| Headquarters | Nyon, Switzerland |
| Website | www.ctp.com |
Cambridge Technology Partners (CTP) was a software consulting company founded in 1991 in Cambridge, Massachusetts by John J. Donovan;[1] in 2001, it was acquired by Novell.
History
CTP was started as a division of Cambridge Technology Group.[2] It was spun off and sold to Safeguard Scientific and others on February 23, 1991. The newly independent company named James Sims as CEO and Robert Gett as head of Technology and Consulting. Six months later, Safeguard bought out John J. Donovan.
CTP pioneered fixed time and price consulting services and Rapid application development (RAD), helping clients transform from mainframe-centric solutions to client-server architecture and packaged solutions.
In May 1993, CTP under the stock symbol CATP went public at $5 a share.[2] In 1999, it achieved peak revenues of $628 million, a market cap of ~$5 billion, and a global workforce of ~4000.
In 2001, Cambridge Technology Partners was acquired by Novell and became their eServices division. Novell felt that the ability to offer solutions (a combination of software and services) was key to satisfying customer demand. The merger was apparently against the firm's software development culture, and the finance personnel at the firm also recommended against it. The CEO of CTP, Jack Messman, engineered the merger using his position as a board member of Novell since its inception and soon became CEO of Novell as well. He then hired back Chris Stone as vice chairman and CEO to set the course for Novell's strategy into open source and enterprise Linux. With the acquisition of CTP, Novell moved its headquarters to Massachusetts.[3]
Notes
- ↑ "John J. Donovan". Bloomberg Businessweek. Bloomberg Businessweek. Retrieved 20 January 2015.
- 1 2 Price guarantee pays off for Cambridge Technology, Boston Business Journal, May 3–9, 1996
- ↑ Sweeney, Phil (April 29, 2002). "Cambridge-bound Novell pins recovery on CTP buy — Boston Business Journal:". Bizjournals.com. Retrieved November 4, 2008.