BluePhoenix Solutions Awarded a $3.5M Contract for Legacy IT Modernization by International Relocation Solutions Provider
CARY, North Carolina, May 6 -- BluePhoenix Solutions (NASDAQ: BPHX), the leading provider of
value-driven legacy IT modernization solutions, announced today that it has
signed a modernization contract with a leading international provider of
relocation solutions. The value of the contract is approximately 3.5M US
dollars and the project is scheduled to complete in early 2010.
The modernization project consists of an extensive array of application
and database modernization and platform re-hosting. Mainframe technologies,
including VSAM, ADABAS, COBOL and Natural, are being modernized to the
Microsoft .NET platform. The resultant benefits include reduced IT costs,
improved operational efficiencies, and the ability for the business to
provide its end clients with new and enhanced customer services.
The new target IT architecture will accommodate modern technologies
enabling quicker - and more cost effective - adaptation to rapidly changing
business needs.
"We are pleased to have been selected by this leader in the field of
relocation solutions. We believe that our selection is a testimony to our
proven track record of successful complex modernization projects," said Yaron
Tchwella, CEO, BluePhoenix Solutions. "BluePhoenix was selected based on its
strength of its modernization portfolio. We are able to successfully address
all of our customer's modernization needs - consulting, re-hosting, migration
and operational support."
About BluePhoenix Solutions
BluePhoenix Solutions (NASDAQ: BPHX) is the leading provider of
value-driven legacy IT modernization solutions. The BluePhoenix portfolio
includes a comprehensive suite of tools and services from global IT asset
assessment and impact analysis to automated database and application
migration, re-hosting, and renewal. Leveraging over 20 years of best-practice
domain expertise, BluePhoenix works closely with its customers to ascertain
which assets should be migrated, redeveloped, or wrapped for reuse as
services or business processes, to protect and increase the value of their
business applications and legacy systems with minimized risk and downtime.
BluePhoenix provides modernization solutions to companies from diverse
industries and vertical markets such as automotive, banking and financial
services, insurance, manufacturing, and retail. Among its prestigious
customers are: Aflac, Capita Group, CareFirst, Citigroup, Danish Commerce and
Companies Agency, Desjardins, Los Angeles County Employees Retirement
Association, Rabobank, Rural Servicios Informaticos, SDC Udvikling, TEMENOS,
Toyota and Volvofinans. BluePhoenix has 15 offices in the USA, UK, Denmark,
Germany, Italy, France, The Netherlands, Romania, Russia, Cyprus, South
Korea, Australia, and Israel.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements contained in this release may be deemed
forward-looking statements within the meaning of the "safe harbor" provisions
of the Private Securities Litigation Reform Act of 1995 and other Federal
Securities laws. You can identify these and other forward-looking statements
by the use of words such as "may," "will," plans," "believes," "estimates,"
"intends" or the negative of such terms, or other comparable terminology.
Because such statements deal with future events, plans, projections, or
future performance of the Company, they are subject to various risks and
uncertainties that could cause actual results to differ materially from the
Company's current expectations. These risks and uncertainties include but are
not limited to: the ability to successfully defend claims brought against the
Company; the effects of the global economic and financial crisis; market
demand for the Company's products; successful implementation of the Company's
products; changes in the competitive landscape, including new competitors or
the impact of competitive pricing and products; the ability to manage the
Company's growth; the ability to recruit and retain additional software
personnel; the ability to develop new business lines; and such other risks
and uncertainties as identified in BluePhoenix's most recent Annual Report on
Form 20-F and other reports filed by it with the SEC. Except as otherwise
required by law, BluePhoenix undertakes no obligation to publicly release any
revisions to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
This press release is also available at http://www.bphx.com. All names
and trademarks are their owners' property.
Company Contact
Varda Sagiv
BluePhoenix Solutions
+972-(0)9-9526110
vsagiv at bphx.com
