A New Beginning

The big news of the year for Cambridge was the acquisition of 75% of its
stake by UK-based Xchanging PLC. When fully integrated, it will be the worlds
largest BPO company, ahead of Genpact.

The acquisition meant a new beginning for Cambridge as it can now look
forward to more offshore work from Xchanging. Unlike Cambridge, Xchanging draws
significant revenue from horizontal areas such as HRO, F&A and procurement as
well as vertical specific services like financial markets in UK, Germany and
other European markets. Xchanging CEO David Andrews, a pioneer in the European
BPO scene, who officially took over as the CEO of Cambridge Solutions, has plans
to ramp up significantly in India in many of these areas. Xchanging has also
decided to make Chennai its global technology center by moving its CTO here.
Cambridge will have the responsibility of making that work out of India.
Xchanging is also looking at tapping the India market and Cambridge can look
forward to implement that strategy. In India, Xchanging wants to take the route
of targeting one customer at a time and sign up only accounts with potential to
become a large account.

In terms of business, pre-acquisition, Cambridge expanded its relationship
with CBRE and Cushman and Wakefield. It also benefited from the acquisition of
Benfield Group, British reinsurer by Aon. Cambridge won a $15 mn contract from
Compagnie Pour Assistance Technique et Investissements SA, (CATISA) and will
offer consulting, business development and procurement services over the next
two years.

RANK 13	Cambridge Solutions
	Nimish Soni, head, BPO Srikrishna M, CFO Milind M Joshi, head, delivery Kamal Kumar Chand, head, HR Srikantan Hosur, head, compliance & quality Sebastian Ritz, CTO, Xchanging
David Andrews, CEO
FACTSHEET
l Start-up Year: 2001 l Employees: 3,293 l Address: Cambridge Tower SJR iPark, EPIP Area, Whitefield, Bengaluru 560066 l Tel: 08030540000 l Website: www cambridge-asia.com
HIGHLIGHTS
Ramped up Shimoga center CEO David Andrews visited India multiple times Entered into a tie-up with Sterling Commerce (AT&T company) to tap enterprise and financial services markets in the Indian subcontinent Acquired British reinsurer Benfield Group prior to being acquired by Xchanging CTO Sebastian Ritz is being moved to Chennai, India

Cambridge expanded India operations by opening a new Chennai center which
will complement the work being done at its existing facilities in Chennai,
Bangalore and Pune. The company also announced strategic partnership with In
Genius Solutions Inc (IGS), an international consulting organization based in
Toronto, Canada. This partnership is expected to add consulting capability to
its BPO services to clients. IGS specializes in vendor selection and deployment,
customer experience strategy and process re-engineering.

Xchanging plans to keep the company listed in India, albeit with a changed
name: Xchanging Solutions Ltd. DQ