Bluephoenix Announces Multi-Million Dollar Modernization Contract With a Large Scandinavian Bank
Solutions (NASDAQ: BPHX), the leader in value-driven IT legacy modernization,
today announced that it has been awarded a new
project with a large Scandinavian bank. Work is expected to begin in the
first quarter of 2009.
BluePhoenix will modernize the bank’s Mortgage Loan application from a
Unisys ClearPath system to an IBM mainframe. In addition the database will be
modernized to a DB2 relational database.
“We are excited to work with this European customer,” said Yaron
Tchwella, President, of BluePhoenix Solutions. “This contract further
demonstrates that our modernization solutions are attractive to major
enterprises all over the world, and that even in a tough economic climate,
our value proposition is exceptional. We are encouraged by the win rates we
are seeing now, as we convert pipeline into signed deals, and remain
optimistic about our business as we head into 2009.”
About BluePhoenix Solutions
BluePhoenix Solutions (NASDAQ: BPHX) is a leading provider of
value-driven modernization solutions for legacy information systems.
BluePhoenix offerings include 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.
Forward Looking Statement
SAFE HARBOR: Certain statements contained in this release may be deemed
forward-looking statements, with respect to plans, projections, or future
performance of the Company, the occurrence of which involves certain risks
and uncertainties that could cause actual plans to differ materially from
these statements. These risks and uncertainties include but are not limited
to: market demand for the Company’s tools, successful implementation of the
Company’s tools, competitive factors, the ability to manage the Company’s
growth, the ability to recruit and retrain additional software personnel, and
the ability to develop new business lines. 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
+972-99526110
vsagiv@bphx.com
Investor Relations:
Peter Seltzberg
+1-646-415-8972
peter@haydenir.com
SOURCE BluePhoenix Solutions Ltd.