johnsyn
13 years ago
Ness Technologies and Menora Mivtachim Group Sign Multi-Million Dollar SAP ERP Implementation and Maintenance Contract
Ness Technologies, Inc. (NASDAQ: NSTC and TASE: NSTC), a global provider of IT services and solutions, and Menora Mivtachim Group, one of Israel's leading insurance groups, announced today a multi-million dollar SAP ERP implementation and maintenance contract. The contract includes the implementation of a company-wide, SAP-based, enterprise resource planning (ERP) system at Menora Mivtachim Group with maintenance, support and development services for five years.
The new ERP system comprises financial, logistics, human resources and profit analysis modules, as well as other insurance-related modules. The new system will upgrade various financial and procurement processes, improve the company's efficiency, including human capital issues among others, and help Menora Mivtachim provide its customers with the highest level of service.
"The new ERP system will serve most of the companies of Menora Mivtachim Group, enabling optimal control over Menora Mivtachim's resources and business activity while satisfying relevant regulatory directives," said Moti Rosen, Chief Executive Officer of Menora Mivtachim. "We selected Ness Technologies due to its proven experience, knowledge and capabilities in large and complex ERP projects, as well as its unique knowledge of the Israeli insurance market's needs."
"This contract reflects our excellent reputation as a market leader in implementing innovative and sophisticated solutions in the insurance industry - and ERP systems in particular - combined with integration, testing and implementation capabilities; as does the recent successful launch of an ERP system we implemented for a large Israeli insurance company," said Effi Kotek, President of Ness Israel. "We will harness the expertise and experience gained by Ness globally to ensure that Menora Mivtachim will receive the highest quality system and the best customer service."
johnsyn
13 years ago
Ness Technologies Selected by Raiffeisenbank in the Czech Republic to Implement Multi-million Dollar System for Efficient Client Document Management
Ness (NASDAQ:NSTC)
Today : Tuesday 6 September 2011
Ness Technologies Selected by Raiffeisenbank in the Czech Republic to Implement Multi-million Dollar System for Efficient Client Document Management The System Will Process Two Million Documents Annually, Significantly Reducing the Need for Human Intervention
PR Newswire
PRAGUE, September 6, 2011 /PRNewswire/ --
Ness Technologies, Inc. (NASDAQ: NSTC, TASE: NSTC), a global provider of information technology solutions and services, announced today that it has signed a multi-million dollar contract with Raiffeisenbank in the Czech Republic for the delivery and implementation of an electronic document management system, based on EMC Documentum, which will be integrated in the bank's new information system. The project, which will take several months, will be implemented on the platform of several of the bank's EMC² services.
"When finished, the system will be used routinely by more than 2,000 of our employees, including those who serve clients in our branches," said Jirí Švarc, Document Management System (DMS) Project Manager, Raiffeisenbank. "The new system will store client documents in digital form at a secure central depository. We will use it to process approximately 2 million new documents every year. The project is valued at several tens of millions of Czech crowns. An application for automatic document generation based on EMC² xPression technology will be the first to be implemented within this system."
Among the project's main benefits is an automatic document generation system, using set parameters. It will generate a document, for example a contract, with clauses that exactly reflect the terms and conditions agreed between the client and the bank. This will significantly reduce the manual work involved in document preparation, leading to faster service for clients and standardized communication with clients.
"The implementation team will comprise more than twenty of our top consultants specializing in DMS, with in-depth knowledge of EMC² products," said Mirko Kalous, Managing Director of Ness Czech. "The project implementation will use a wide range of EMC² products, starting from smart storage of encrypted digital documents and access management, through content generation systems, to solutions for viewing client documentation differentiated by which job the bank's employee is assigned to."
When the project is completed, the system will store also details of the physical location of archived hard-copy documents, in addition to having a central content depository. The project's long-term goal is to encompass all document management functionality, including that currently provided by other applications.
johnsyn
13 years ago
Ness Technologies Stockholders Approve Merger with Affiliate of CVCI
($7.75 per share buyout expected to be completed by end of Sept)
Ness (NASDAQ:NSTC)
Intraday Stock Chart
TEANECK, New Jersey, August 30, 2011 /PRNewswire/ --
Ness Technologies, Inc. (NASDAQ: NSTC and TASE: NSTC), a global provider of IT services and solutions, announced today that the company's stockholders voted to approve the company's proposed merger with an affiliate of Citi Venture Capital International (CVCI), a global private equity investment fund.
According to the final tally of shares voted, approximately 28,511,919 shares of Ness common stock voted for the approval of the proposal to adopt the merger agreement providing for the merger, representing approximately 75% of the shares of Ness common stock outstanding and eligible to vote as of July 18, 2011, the record date for voting at the special meeting.
Under terms of the merger agreement, dated June 10, 2011, an affiliate of CVCI will acquire the company in an all-cash transaction and Ness stockholders will receive $7.75 per share in cash for each share of common stock they hold. At the same time, Ness will become a wholly owned subsidiary of an affiliate of CVCI and Ness common stock will cease to be listed on the Nasdaq Global Select Market and the Tel Aviv Stock Exchange. The transaction is subject to certain closing conditions, including antitrust regulatory approvals and other customary closing conditions, and is expected to be completed by the end of September 2011.
About Ness Technologies
Ness Technologies (NASDAQ: NSTC and TASE: NSTC) is a global provider of IT and business services and solutions with specialized expertise in software product engineering; and system integration, application development, consulting and software distribution. Ness delivers its portfolio of solutions and services using a global delivery model combining offshore, near-shore and local teams. With about 7,000 employees, Ness has operations in North America, Europe, Israel and India, has customers in over 20 countries, and partners with numerous software and hardware vendors worldwide. For more information about Ness, visit http://www.ness.com.
About Citi Venture Capital International
CVCI is a leader in global emerging markets private equity investing, and currently manages over $7 billion in equity investments and committed capital. CVCI has an internationally integrated investment team with over 45 professionals worldwide with a local presence in Singapore, Mumbai, New Delhi, Hong Kong, London, New York and Santiago. CVCI-advised funds have made significant investments in Business Services and Cross-Border Outsourcing companies and have an established track record of investments in this sector and a global perspective of the trends and drivers in the industry. Over the last decade, funds and entities advised by CVCI have invested in business services and IT Services companies in China, the U.S., India, Mexico, and Korea.
CVCI is part of Citi Capital Advisors. Citi Capital Advisors is a global alternative asset management platform that offers a broad range of innovative strategies and products to select institutional and ultra-high-net-worth investors.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often are preceded by words such as "believes," "expects," "may," "anticipates," "plans," "intends," "assumes," "will" or similar expressions. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by these statements. Factors that could cause actual results to materially differ from those projected in forward-looking statements include, but are not limited to, the following: (i) the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement; (ii) the inability to complete the merger due to the failure to obtain stockholder approval or the failure to satisfy other conditions to the completion of the merger; (iii) risks related to disruption of management's attention from the company's ongoing business operations due to the merger; and (iv) the effect of the announcement of the merger on the company's relationships with its customers, operating results and business generally. Additional factors that may cause results to differ materially from those described in the forward-looking statements are included under the heading "Risk Factors" in the company's filings with the Securities and Exchange Commission. The company is under no obligation, and expressly disclaims any obligation, to update or alter its forward-looking statements, whether as a result of such changes, new information, subsequent events or otherwise.
Media Contacts: David Kanaan Intl: +972-54-425-5307 Email: media.int@ness.com Investor Relations Contacts: Drew Wright USA: 1-201-488-3262 Email: investor@ness.com Maya Lustig Israel: +972-3-767-5110 Email: maya.lustig@ness.com Mark Harnett / Larry Schimmel USA: 1-212-929-5500 Email: proxy@mackenziepartners.com
SOURCE Ness Technologies Inc
johnsyn
13 years ago
SAY BYE-BYE, NSTC has been bought out. Done deal by XMAS
Ness Technologies to be Acquired by an Affiliate of CVCI
Ness Stockholders to Receive $7.75 per Share in Cash in a Transaction Valued at $307 Million TEANECK, New Jersey, June 10, 2011 /PRNewswire via COMTEX/ --
Ness Technologies, Inc. (NASDAQ: NSTC and TASE: NSTC), a global provider of information technology solutions and services, announced today that the company has entered into a definitive merger agreement under which an affiliate of Citi Venture Capital International (CVCI), a global private equity investment fund, will acquire the company in an all-cash transaction valued at approximately $307 million.
Under the terms of the agreement, Ness stockholders will receive $7.75 per share in cash for each share of common stock they hold, representing a premium of 17.6% over the closing price of the company's shares on the Nasdaq Global Select Market on June 9, 2011, the last trading day prior to today's announcement, or 22.2% over the average closing price of the company's shares over the 30 trading days prior to June 10, 2011.
The company's Board of Directors, acting upon the unanimous recommendation of a Special Committee of disinterested members of the company's Board of Directors, approved the transaction as being in the best interests of Ness Technologies and its stockholders and recommends that the company's stockholders approve the transaction.
"We believe this transaction provides attractive value for our stockholders and represents an exciting opportunity for Ness, our over-500 customers and our 6,900 employees to continue our growth and development in partnership with CVCI," said Sachi Gerlitz, president and CEO, Ness Technologies. "We look forward to completing the transaction and continuing to provide superior solutions and services to our strong customer base, as we build upon our leadership position in our markets and continue to implement our strategic plan."
"We are excited about the prospect of increasing our investment in Ness," said Bob Khanna, CVCI's Managing Director. "Ness is the leader in several segments of the IT services marketplace, serves the most sophisticated global clients and has an outstanding reputation for delivering complex projects. We look forward to working with management, employees and partners of all business units to ensure that Ness becomes even more valuable to its clients and fully leverages the strengths of its global network."
P. Howard Edelstein, Chairman of the Special Committee, said: "After a thorough assessment, we concluded that the transaction with CVCI delivers significant value and is in the best interest of our stockholders."
The transaction is subject to certain closing conditions, including approval of the company's stockholders, antitrust regulatory approvals and other customary closing conditions. Ness's stockholders will be asked to vote on the proposed transaction at a special meeting that will be held on a date to be announced. Ness expects the transaction to be completed in the next three to six months.
Jefferies & Company, Inc. is acting as financial advisor to the Special Committee, and managed the process for the Special Committee soliciting bids from both strategic and financial sponsors in response to an unsolicited indication of interest. BofA Merrill Lynch is acting as financial advisor to the Board of Directors of Ness. Citigroup Global Markets Inc. is acting as financial advisor to CVCI. Olshan Grundman Frome Rosenzweig & Wolosky LLP is acting as legal advisor to Ness, Ropes & Gray LLP is acting as legal advisor to the Special Committee and Cleary Gottlieb Steen & Hamilton LLP is acting as legal advisor to CVCI.
About Ness Technologies
Ness Technologies (NASDAQ: NSTC and TASE: NSTC) is a global provider of IT and business services and solutions with specialized expertise in software product engineering; and system integration, application development, consulting and software distribution. Ness delivers its portfolio of solutions and services using a global delivery model combining offshore, near-shore and local teams. With about 6,900 employees, Ness has operations in North America, Europe, Israel and India, has customers in over 20 countries, and partners with numerous software and hardware vendors worldwide. For more information about Ness, visit http://www.ness.com.
About Citi Venture Capital International
CVCI is a leader in global emerging markets private equity investing, and currently manages over $7 billion in equity investments and committed capital. CVCI has an internationally integrated investment team with over 45 professionals worldwide with a local presence in Singapore, Mumbai, New Delhi, Hong Kong, London, New York and Santiago. CVCI-advised funds have made significant investments in Business Services and Cross-Border Outsourcing companies and have an established track record of investments in this sector and a global perspective of the trends and drivers in the industry. Over the last decade, funds and entities advised by CVCI have invested in business services and IT Services companies in China, the U.S., India, Mexico, and Korea.
CVCI is part of Citi Capital Advisors. Citi Capital Advisors is a global alternative asset management platform that offers a broad range of innovative strategies and products to select institutional and ultra-high-net-worth investors.
johnsyn
14 years ago
Let's get this thread rolling again: Ness Technologies Wins $17 Million Deal With Israel Electric Corporation
TEANECK, New Jersey, April 13, 2011 /PRNewswire-FirstCall/ -- Ness Technologies, Inc. (NASDAQ: NSTC and TASE: NSTC), a global provider of IT services and solutions, announced today that it has been awarded an NIS 60 million, or approximately $17.3 million, engagement from Israel Electric Corporation (IEC) to implement SAP-based projects, including software testing. Ness won the deal as lead contractor in an international public tender.
The projects include implementation of SAP solutions for the maintenance of power stations and the electricity network, real estate management, financing transactions, oil and gas management and other functions. The implementation of these solutions will be conducted over the next five years. In addition to implementing the projects, Ness will continue to help in the maintenance of IEC's existing SAP ERP over the next five years.
"Ness was selected following a rigorous evaluation process," said Yosi Shneck, VP and head of Information Systems & Communications Division, IEC. "Based on our successful experience with Ness in the implementation of our ERP systems, we are convinced that Ness will help us meet our goals and successfully implement applications that will provide an added value to IEC and its customers."
"We will provide IEC, which is a strategic client, with our extensive experience and expertise in the utilities industry, including experts from Israel as well as from our subsidiaries in Eastern Europe, where we routinely conduct similarly complex projects for European utilities companies," said Effi Kotek, President of Ness Israel. "IEC's selection of Ness for these important projects underscores our position as Israel's leading SAP systems integrator and implementer."
Read more: http://www.nasdaq.com/aspx/company-news-story.aspx?storyid=201104130600pr_news_usprx____ukw559&title=ness-technologies-wins-17-million-deal-with-israel-electric-corporation#ixzz1JPYJWKyn
johnsyn
14 years ago
Ness Technologies Wins $17 Million Deal With Israel Electric Corporation
TEANECK, New Jersey, April 13, 2011 /PRNewswire-FirstCall/ -- Ness Technologies, Inc. (NASDAQ: NSTC and TASE: NSTC), a global provider of IT services and solutions, announced today that it has been awarded an NIS 60 million, or approximately $17.3 million, engagement from Israel Electric Corporation (IEC) to implement SAP-based projects, including software testing. Ness won the deal as lead contractor in an international public tender.
The projects include implementation of SAP solutions for the maintenance of power stations and the electricity network, real estate management, financing transactions, oil and gas management and other functions. The implementation of these solutions will be conducted over the next five years. In addition to implementing the projects, Ness will continue to help in the maintenance of IEC's existing SAP ERP over the next five years.
"Ness was selected following a rigorous evaluation process," said Yosi Shneck, VP and head of Information Systems & Communications Division, IEC. "Based on our successful experience with Ness in the implementation of our ERP systems, we are convinced that Ness will help us meet our goals and successfully implement applications that will provide an added value to IEC and its customers."
"We will provide IEC, which is a strategic client, with our extensive experience and expertise in the utilities industry, including experts from Israel as well as from our subsidiaries in Eastern Europe, where we routinely conduct similarly complex projects for European utilities companies," said Effi Kotek, President of Ness Israel. "IEC's selection of Ness for these important projects underscores our position as Israel's leading SAP systems integrator and implementer."
Read more: http://www.nasdaq.com/aspx/company-news-story.aspx?storyid=201104130600pr_news_usprx____ukw559&title=ness-technologies-wins-17-million-deal-with-israel-electric-corporation#ixzz1JPYJWKyn
ucantfoolmee
15 years ago
Ness Technologies Wins Multi-Million Dollar Defense Contract With Latin American Country
HACKENSACK, New Jersey, June 23 /PRNewswire-FirstCall/ -- Ness Technologies, Inc. (NASDAQ:NSTC), a global provider of IT services and solutions, today announced a multi-million dollar contract to provide its NessControl command and control system to a major Latin American government. NessControl will be implemented for the country's special forces.
NessControl is a comprehensive command and control system for mobile tactical units. It comprises an advanced, independent and fully redundant communications infrastructure which enables the real-time collection, dissemination and analysis of data among all units linked to the system. Featuring state-of-the-art imaging capabilities, the highly versatile, integrated system handles a wide range of information, including live video, photographs, maps, intelligence aids, text and messages, alarms, and GIS data - all in real time.
NessControl will support the needs of the special forces in a wide range of missions, including counter-terrorism, search and rescue, reconnaissance and SWAT missions. It will also be used to transfer data and video from forces in the field to HQ and operations rooms, using various communications systems.
"We are very pleased to have won this strategically significant deployment in Latin America," said Michael Zinderman, President, Ness Technologies & Systems Group (TSG). "NessControl's ability to supply reliable and precise information to special forces officers and field personnel in real time enhances the mission performance of any defense and homeland security organization. NessControl is a field-proven system deployed by leading defense and counter-terror organizations. This marks the eleventh country in which we have deployed Ness' defense and homeland security systems, across five continents."
About NessControl
NessControl provides real-time viewing of force positions and movements, leading to increased coordination among neighboring forces. The system supports a wide variety of data transmission modes, such as tactical HF/VHF/UHF radio, wireless LAN/WAN, satellite, cellular and Ethernet - and is designed to provide the optimal mode for both static and mobile stations.
NessControl is deployed on headquarters computers, in-vehicle computers and soldier-mounted or soldier-carried devices. The system is based on Ness Technologies' Map Display System (NTMDS), a powerful mapping and graphic tool kit that enables real-time control and response. It includes a navigation and orientation module, enabling fast and accurate positioning (using GPS), route planning, route display and an auto centered moving map.
During emergency conditions, when every second is critical, NessControl enables its users, military and special forces personnel, to take immediate control of a situation. It rapidly assesses the distance between the scene and initial responders, including the length of time it will take them to arrive and the most expeditious route. With this information, commanders can quickly create action plans, and make better, more informed decisions, adapting to the current situation.
About Ness Technologies
Ness Technologies (NASDAQ:NSTC) is a global provider of IT and business services and solutions with specialized expertise in software product engineering; system integration, application development and consulting; and software distribution. Ness delivers its portfolio of solutions and services using a global delivery model combining offshore, near-shore and local teams. With about 8, 000 employees, Ness maintains operations in 18 countries, and partners with numerous software and hardware vendors worldwide. For more information about Ness Technologies, visit http://www.ness.com/.
Forward-Looking Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often are preceded by words such as "believes," "expects, "may", "anticipates", "plans", "intends", "assumes", "will" or similar expressions. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Ness' actual results could differ materially from those anticipated in these forward- looking statements as a result of various factors. Some of the factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the "risk factors" described in Ness' Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 16, 2009. Ness is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of such changes, new information, subsequent events or otherwise.
Ness Technologies Media Contact:
John Fitzsimmons USA: +1-781-223-5833 Email:
David Kanaan Intl: +972-54-425-5307 Email:
Ness Technologies Investor Contact:
Drew Wright USA:+1-201-488-3262 Email:
DATASOURCE: Ness Technologies Inc
CONTACT: Ness Technologies Media Contact: John Fitzsimmons, USA:
+1-781-223-5833, Email: ; David Kanaan, Intl:
+972-54-425-5307, Email: . Ness Technologies Investor
Contact: Drew Wright, USA:+1-201-488-3262, Email: .
ucantfoolmee
15 years ago
Ness Technologies Wins Multi-Million Dollar Defense Contract With Latin American Country
HACKENSACK, New Jersey, June 23 /PRNewswire-FirstCall/ -- Ness Technologies, Inc. (NASDAQ:NSTC), a global provider of IT services and solutions, today announced a multi-million dollar contract to provide its NessControl command and control system to a major Latin American government. NessControl will be implemented for the country's special forces.
NessControl is a comprehensive command and control system for mobile tactical units. It comprises an advanced, independent and fully redundant communications infrastructure which enables the real-time collection, dissemination and analysis of data among all units linked to the system. Featuring state-of-the-art imaging capabilities, the highly versatile, integrated system handles a wide range of information, including live video, photographs, maps, intelligence aids, text and messages, alarms, and GIS data - all in real time.
NessControl will support the needs of the special forces in a wide range of missions, including counter-terrorism, search and rescue, reconnaissance and SWAT missions. It will also be used to transfer data and video from forces in the field to HQ and operations rooms, using various communications systems.
"We are very pleased to have won this strategically significant deployment in Latin America," said Michael Zinderman, President, Ness Technologies & Systems Group (TSG). "NessControl's ability to supply reliable and precise information to special forces officers and field personnel in real time enhances the mission performance of any defense and homeland security organization. NessControl is a field-proven system deployed by leading defense and counter-terror organizations. This marks the eleventh country in which we have deployed Ness' defense and homeland security systems, across five continents."
About NessControl
NessControl provides real-time viewing of force positions and movements, leading to increased coordination among neighboring forces. The system supports a wide variety of data transmission modes, such as tactical HF/VHF/UHF radio, wireless LAN/WAN, satellite, cellular and Ethernet - and is designed to provide the optimal mode for both static and mobile stations.
NessControl is deployed on headquarters computers, in-vehicle computers and soldier-mounted or soldier-carried devices. The system is based on Ness Technologies' Map Display System (NTMDS), a powerful mapping and graphic tool kit that enables real-time control and response. It includes a navigation and orientation module, enabling fast and accurate positioning (using GPS), route planning, route display and an auto centered moving map.
During emergency conditions, when every second is critical, NessControl enables its users, military and special forces personnel, to take immediate control of a situation. It rapidly assesses the distance between the scene and initial responders, including the length of time it will take them to arrive and the most expeditious route. With this information, commanders can quickly create action plans, and make better, more informed decisions, adapting to the current situation.
About Ness Technologies
Ness Technologies (NASDAQ:NSTC) is a global provider of IT and business services and solutions with specialized expertise in software product engineering; system integration, application development and consulting; and software distribution. Ness delivers its portfolio of solutions and services using a global delivery model combining offshore, near-shore and local teams. With about 8, 000 employees, Ness maintains operations in 18 countries, and partners with numerous software and hardware vendors worldwide. For more information about Ness Technologies, visit http://www.ness.com/.
Forward-Looking Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often are preceded by words such as "believes," "expects, "may", "anticipates", "plans", "intends", "assumes", "will" or similar expressions. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Ness' actual results could differ materially from those anticipated in these forward- looking statements as a result of various factors. Some of the factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the "risk factors" described in Ness' Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 16, 2009. Ness is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of such changes, new information, subsequent events or otherwise.
Ness Technologies Media Contact:
John Fitzsimmons USA: +1-781-223-5833 Email:
David Kanaan Intl: +972-54-425-5307 Email:
Ness Technologies Investor Contact:
Drew Wright USA:+1-201-488-3262 Email:
DATASOURCE: Ness Technologies Inc
CONTACT: Ness Technologies Media Contact: John Fitzsimmons, USA:
+1-781-223-5833, Email: ; David Kanaan, Intl:
+972-54-425-5307, Email: . Ness Technologies Investor
Contact: Drew Wright, USA:+1-201-488-3262, Email: .
ucantfoolmee
15 years ago
DOCOMO interTouch Selects Ness Technologies for Regional Oracle Implementation in Asia Pacific
SINGAPORE, June 2 /PRNewswire-FirstCall/ -- Ness Technologies, Inc. (NASDAQ:NSTC), a global provider of information technology solutions and services, today announced the completion of phase one of a large regional deployment of Oracle(R) E-Business Suite for DOCOMO interTouch, one of the world's largest technology providers for the hospitality industry, and a wholly owned subsidiary of NTT DOCOMO.
DOCOMO interTouch selected Ness to assist with its world-wide deployment of Oracle's E-Business Suite across its 64 entities in 32 countries in Asia, South Pacific, Europe, the Americas and the Middle East. By consolidating its global operations onto a single platform, DOCOMO interTouch expects to streamline business processes, standardize best practices, and achieve an end-to-end view across its entire global business.
Ness, which is initially responsible for 25 of DOCOMO interTouch's offices in Asia Pacific, began the engagement in the fourth quarter of 2008 and delivered phase one on schedule in March of this year. The next implementation phase is now under way, continuing with additional phases until the Asia Pacific region is fully deployed.
"DOCOMO interTouch selected Ness for its strong reputation in the successful deployment of mission-critical enterprise software platforms," said Enrico Nora, Chief Financial Officer, DOCOMO interTouch. "Technology continues to be a critical enabler in driving our growth globally and enhancing our global competitiveness. It was a natural choice for us to consolidate our global operations using the Oracle E-Business Suite."
Madhujeet Chimni, Managing Director of Ness Asia Pacific, said, "We are honored to have DOCOMO interTouch as a client. Their selection of Ness Technologies for this strategic project is a testament to our high-quality IT services and recognition of our established expertise in Oracle products."
About Ness Technologies
Ness Technologies (NASDAQ:NSTC) is a global provider of IT and business services and solutions with specialized expertise in software product engineering; system integration, application development and consulting; and software distribution. Ness delivers its portfolio of solutions and services using a global delivery model combining offshore, near-shore and local teams. With about 8,000 employees, Ness maintains operations in 18 countries, and partners with numerous software and hardware vendors worldwide. For more information about Ness Technologies, visit http://www.ness.com/.
About DOCOMO interTouch
DOCOMO interTouch is one of the world's largest hotel technology service providers, delivering broadband connectivity services, multi-media services, and managed network solutions to the global hospitality industry. DOCOMO interTouch has been serving the hospitality industry since 1998, with its innovative technologies providing travellers and conference attendees with convenient access to enjoy communication, information and entertainment services in over 65 countries. Headquartered in Singapore and with operations throughout Asia Pacific, Europe, Africa, the Middle East and the Americas, DOCOMO interTouch now has offices in 50 countries worldwide on these continents. DOCOMO interTouch is a wholly-owned subsidiary of NTT DOCOMO, a global leader in mobile telecommunications technologies. More information on DOCOMO interTouch is available on http://www.docomointertouch.com/
Forward Looking Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often are preceded by words such as "believes," "expects," "may," "anticipates," "plans," "intends," "assumes," "will" or similar expressions. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Ness' actual results could differ materially from those anticipated in these forward looking statements as a result of various factors. Some of the factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the "Risk Factors" described in Ness' Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 16, 2009. Ness is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of such changes, new information, subsequent events or otherwise.
Ness Technologies media contact: John Fitzsimmons Intl: +1-781-223-5833 Email:
Ness Technologies media contact - Israel: David Kanaan Intl: +972(54)425-5307 Email:
Ness Technologies investor contact: Drew Wright USA: +1-201-488-3262 Email:
DATASOURCE: Ness Technologies Inc
CONTACT: Ness Technologies media contact: John Fitzsimmons, Intl:
+1-781-223-5833, Email: ; Ness Technologies media
contact - Israel: David Kanaan, Intl: +972(54)425-5307, Email:
; Ness Technologies investor contact: Drew Wright, USA:
+1-201-488-3262, Email:
Swany
16 years ago
Re Cap of 3rd Qtr. report and share buy back
Ness Technologies Announces Third Quarter 2008 Financial Results and Stock Repurchase Program
Date : 11/03/2008 @ 5:00AM
Source : PR Newswire
Stock : Ness Technologies (MM) (NSTC)
Quote : 4.24 -0.07 (-1.62%) @ 8:00PM
Ness Technologies Announces Third Quarter 2008 Financial Results and Stock Repurchase Program
Operating Income Rises 157% and Net Income Rises 121% Year-Over-Year to GAAP $0.41 Per Diluted Share, on an 18% Increase in Revenues
HACKENSACK, New Jersey, November 3 /PRNewswire-FirstCall/ -- Ness Technologies, Inc. (NASDAQ:NSTC), a global provider of IT services and solutions, today announced financial results for the quarter ended September 30, 2008.
Third Quarter 2008 Highlights:
- On a GAAP basis: - Revenues were $164.1 million, up 18% year-over-year.
- Operating income was $23.1 million, up 157% year-over-year.
- Net income was $16.1 million, up 121% year-over-year.
- Diluted net earnings per share were $0.41, compared to $0.19 in the third quarter of 2007.
- Operating results for the third quarter include an operating gain related to the sale of the company's Israeli SAP sales and distribution division.
- On a non-GAAP basis, excluding the gain, net of related expenses and other charges, stock-based compensation expenses and amortization of intangibles, net of taxes (1): - Revenues were $167.3 million, up 21% year-over-year.
- Operating income was $12.4 million, up 20% year-over year.
- Net income was $9.4 million, up 10% year-over-year.
- Diluted net earnings per share were $0.24, compared to $0.22 in the third quarter of 2007.
- Cash and cash equivalents totaled $80.4 million as of September 30, 2008.
- Operating cash flows for the quarter were $3.5 million.
- Backlog as of September 30, 2008 was $764 million, up 14% compared to $669 million as of September 30, 2007.
- The company's four primary business units, Ness Software Product Labs (SPL), Ness Europe, Ness Israel and Technology & Systems Group (TSG) met or exceeded our expectations in the third quarter.
- The company experienced a sales slowdown in its 'Other' segment: its U.S.-based financial services business unit, representing 4% of revenues, and its NessPRO software distribution business, representing 8% of revenues.
(1) See "Use of Non-GAAP Financial Information" below for more information regarding Ness' use of non-GAAP financial measures.
"We had a very good quarter despite the world economic storm. Our core business did very well in the third quarter, and it continues to demonstrate solid fundamentals," said Sachi Gerlitz, president and chief executive officer of Ness Technologies. "Our strategy of geographic and line-of-business diversification has paid off, as our U.S. revenue concentration is low, with much of it coming from R&D spending rather than discretionary IT spending. Our core services businesses, Ness SPL, Ness Europe, TSG and Ness Israel, all met or exceeded our expectations, and we believe we will continue with healthy growth in 2009 despite the current economic outlook."
"The story this quarter was all about the economy and exposure to certain verticals," said Ofer Segev, executive vice president and chief financial officer. "Despite a tough playing field, we made good progress, delivering healthy earnings and solid operating cash flows. Our balance sheet and cash position are strong, which keeps us in our comfort zone regarding liquidity. We are taking steps to improve the underperforming units, and, as appropriate to these times, we are applying a more conservative approach to our guidance until the economy recovers."
Guidance
The uncertainty of various external factors, including the unpredictability of the capital markets and their effect on the value of Ness' employee severance pay fund in Israel, which may require a non-cash adjustment at year-end, has made it difficult for Ness to provide guidance as it has historically. Therefore, Ness is only providing non-GAAP guidance for the remainder of the year. Ness' guidance for the remainder of 2008 is non-GAAP diluted net earnings per share of $0.24 to $0.31 and revenues of $175 million to $185 million.
Additional details will be provided on the conference call.
Stock Repurchase Program
The board of directors of the company has authorized a program to repurchase up to 4,000,000 shares of the company's common stock, or approximately 10% of the outstanding shares, over the next 12 months. "The board's approval of the share repurchase program reflects its confidence in Ness' long-term prospects for growth and its ongoing commitment to increase shareholder value," said Aharon Fogel, chairman of the board of directors.
The share repurchase program may be carried out at the direction of the company through open market purchases (which may or may not include a plan under Rule 10b5-1 under the Securities Exchange Act of 1934), block trades and board-approved privately negotiated transactions and does not include specific price targets. The stock may be repurchased on an ongoing basis and will be subject to the availability of shares, general market conditions, the trading price of the stock, alternative uses for capital, and the company's financial condition; therefore, the actual number of shares that may be repurchased is unknown. Any repurchased shares will be held in treasury or retired.
Conference Call Details
Sachi Gerlitz, president and chief executive officer of Ness Technologies, and Ofer Segev, executive vice president and chief financial officer, will also conduct a conference call to discuss the third quarter 2008 results. The call, which will be simultaneously webcast, will be at 8:30 AM Eastern Time / 5:30 AM Pacific Time on Monday, November 3, 2008.
To access the Ness Technologies third quarter 2008 earnings conference call, participants in North America should dial 1-800-399-0427 and international participants should dial +1-706-643-1624. A live audio webcast of the conference call will be available on the investor relations page of the Ness Technologies corporate web site at http://investor.ness.com/. Please visit the web site at least 15 minutes early to register for the teleconference webcast and download any necessary audio software. A replay of the call will be available on the web site approximately two hours after the conference call is completed.
Swany
16 years ago
NEWS:
Ness Technologies Sets Reporting Date for Fourth Quarter and Full Year 2008 Financial Results
Date : 01/13/2009 @ 8:20AM
Source : PR Newswire
Stock : Ness Technologies (MM) (NSTC)
Quote : 4.31 0.03 (0.70%) @ 5:18PM
Ness Technologies Sets Reporting Date for Fourth Quarter and Full Year 2008 Financial Results
HACKENSACK, New Jersey, January 13 /PRNewswire-FirstCall/ -- Ness Technologies, Inc. (NASDAQ:NSTC), a global provider of information technology solutions and services, announced today that the company will release financial results for the fourth quarter and full year ended December 31, 2008 before the start of trading on Wednesday, February 4, 2009. The financial results will be released over the news wires and will also be posted on the Ness corporate web site.
Sachi Gerlitz, president and chief executive officer of Ness Technologies, and Ofer Segev, executive vice president and chief financial officer, will also conduct a conference call to discuss the fourth quarter and full year 2008 results. The call, which will be simultaneously webcast, will begin at 8:30 AM Eastern Time / 5:30 AM Pacific Time on Wednesday, February 4, 2009.
To access the Ness Technologies fourth quarter and full year 2008 earnings conference call, participants in North America should dial 1-800-399-0427 and international participants should dial +1-973-200-3375. A live audio webcast of the conference call will be available on the investor relations page of the Ness Technologies corporate web site at http://investor.ness.com/. Please visit the web site at least 15 minutes early to register for the teleconference webcast and download any necessary audio software. A replay of the call will be available on the web site approximately two hours after the conference call is completed.
About Ness Technologies
Ness Technologies (NASDAQ:NSTC) is a global provider of end-to-end IT services and solutions designed to help clients improve competitiveness and efficiency. The Ness portfolio of solutions and services consists of software product development, including both offshore and near-shore outsourcing; system integration, application development and consulting; and software distribution. With over 8,300 employees, Ness maintains operations in 18 countries, and partners with numerous software and hardware vendors worldwide. For more information about Ness Technologies, visit http://www.ness.com/.
Forward Looking Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often are preceded by words such as "believes," "expects," "may," "anticipates," "plans," "intends," "assumes," "will" or similar expressions. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Ness' actual results could differ materially from those anticipated in these forward looking statements as a result of various factors. Some of the factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the "Risk Factors" described in Ness' Annual Report of Form 10-K filed with the Securities and Exchange Commission on March 17, 2008. Ness is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of such changes, new information, subsequent events or otherwise.
Ness Technologies media contact: David Kanaan USA: +1-888-244-4919 Intl: +972-3-540-8188 Email:
Ness Technologies investor contact: Drew Wright USA: +1-201-488-3262 Email:
DATASOURCE: Ness Technologies Inc
CONTACT: Ness Technologies media contact: David Kanaan, USA:
+1-888-244-4919, Intl: +972-3-540-8188, Email: ; Ness
Technologies investor contact: Drew Wright, USA: +1-201-488-3262, Email:
http://ih.advfn.com/p.php?pid=nmona&cb=1231887657&article=35771629&symbol=N%5ENSTC
midastouch017
19 years ago
Stock options weigh on Ness
16.3.06 | 16:43 By Shirley Yom-Tov
Financial statements season is winding down and it's time to take a breather and look at what the companies are saying. One of the most interesting aspects of the Wall Street-trade pack is how stock options expensing is hitting their bottom lines.
From 2006, options expensing has become a hot-button issue. It can't be hidden in the small print any more: it's become a part of the profit & loss statement as of this year.
Ness Technologies (Nasdaq: NSTC), a giant software outsourcing services provider, posted net profit of $21.7 million for 2005, or 61 cents per share. But its financial statement for the year indicates that if it had fully expensed options to management and employees, its net profit would have contracted to $15.4 million, or 42 cents per share.
Wall Street managers bellow that the cost of stock options isn't a true cost, but actually, they are. They are used to motivate workers in the stead of more money and everything has a price. In the case of stock options, the ones paying the price are the shareholders.
When workers convert their options into shares, they increase the float. If the company's profits grow slower than the number of floating shares, profit per share is hurt. That impacts on the company's market valuation, partly because of the profit multiples by which public companies are traded.
From April we will know the truth about what the companies are up to. At Ness, for instance, the float increased faster than profit. Options costs amounted to 37% of profit in 2005, compared with 25% in 2004. In 2004 the company netted $13 million but $3 million in options costs would be cut its profit to $10.3 million.
Ness has 5,945 employees, almost all of whom are IT experts. The company went public in September 2004 at $12 per share. Its present share price is $11.20, reducing its market capitalization to $390 million.
http://www.haaretz.com/hasen/pages/ArticleContent.jhtml?itemNo=695103
Dubi
midastouch017
19 years ago
Yes canceled part of outsourcing deal with Ness, Bezeq reveals
06.3.06 | 09:03 By Eran Gabay and Galya Yemini
Satellite television provider Yes canceled part of its outsourcing contract with IT service provider Ness Technologies (Nasdaq: NSTC). The partial contract termination came to light last week when Yes' parent company, the domestic telecoms monopoly Bezeq, filed its financial report for 2005.
In March 2004, Yes signed a contract for Ness to manage all of Yes' computer systems. The eight-year contract was worth $3.5 million a year, totaling $28 million, and included an option for a possible five-year extension.
After the deal was signed, 70 Yes computer staffers were transferred to Ness Technologies.
Neither company has reported any disputes, however Bezeq's reports indicate that in 2005, they agreed Ness would stop providing Yes with outsourcing for certain information systems, which Yes would resume managing.
Haaretz has learned that some Yes employees who were transferred to the Ness payroll at the beginning of the project, have been returned to the Yes information-technology unit.
The financials also state that the parties were negotiating changes in the contract. It is still unclear how large a loss this represents for Ness, if any.
Ness is the largest computerization company in Israel. Its client list includes the First International Bank and Migdal. It refused to comment for this report, saying that it does not disclose information on clients. No response was available from Yes as of press time.
http://www.haaretz.com/hasen/spages/690726.html
Dubi
midastouch017
19 years ago
Ness beats Q4 forecasts
16.2.06 | 16:51 By Asaf Rothem
Ness Technologies (Nasdaq: NSTC) beat the Street forecasts for the last quarter of 2005, achieving record quarterly revenues of $105.1 million.
In the third quarter, the Tel Aviv-based international software giant had neared $100 million and today the company and its management, headed by Raviv Zoller, can pat themselves on the back. This was the 12th straight quarter in which Ness presented revenue growth.
Its fourth-quarter revenues were up 28% from the parallel quarter and well above the average forecast of $103.2 million.
The company's net profit also soared to a record of $6.8 million, up 26% from $5.4 million the year before.
Minus one-time items, Ness' pro forma earnings per share were 18 cents, as expected.
For the year 2005, Ness presented $385 million turnover, up 26% from 2004, while the Street had expected $383.2 million.
Ness stock from the start of 2005
The company's 2005 net profit amounted to $21.7 million, as the company had guided investors to expect, compared with $14.4 million the year before.
At the start of 2005, Ness provided guidance for the year that fell below the Street's thinking. The company guided investors to expect 70-75 earnings per share and revenues in the range of $370 million to $375 million.
Afterward the company raised its guidance twice and finally elected to predict a range of $381 million to $384 million, after buying the company now called Ness Slovakia and another company called Delta.
Ness went public in September 2004 at $12 per share. Today it's share price is $10.90, and that's after it rose 22% from the start of November.
http://www.haaretz.com/hasen/spages/683809.html
Dubi
ByloCellhi
19 years ago
NSTC Aquires Innova Solutions - $30M profitable company
http://biz.yahoo.com/prnews/060206/ukm004.html?.v=45
Ness Technologies Acquires Innova Solutions
Monday February 6, 6:02 am ET
Ness Further Strengthens its Indian Offshore Capabilities
HACKENSACK, New Jersey, February 6 /PRNewswire-FirstCall/ -- Ness Technologies, Inc. (NASDAQ: NSTC - News), a global provider of information technology (IT) services and solutions, today announced that it has signed a definitive agreement to acquire Innova Solutions (OLAS Software Solutions, Inc.), a privately held provider of IT services and solutions based in the United States and India. The purchase price in the all cash transaction is $25.0 million, of which $10.0 million will be paid over the next two years based on the achievement of certain performance goals. The acquisition is expected to close prior to March 31, 2006 and is subject to customary closing conditions. For the full year 2005, Innova generated revenues of over $30 million and was profitable. The acquisition is expected to be accretive to 2006 earnings per share. Innova has over 700 employees, mainly in India.
Innova is an IT services provider and system integrator offering a portfolio of offshore and on-site IT services and solutions, with a focus on financial services, which is also a core strength and strategic growth area for Ness. Innova is headquartered in Santa Clara, California, with the great majority of its personnel in Hyderabad, India. Services provided by Innova include software solutions for financial data services and business operations such as wealth management and transfer agency systems, investment management systems, and trade operations solutions; product engineering; package implementation; custom solutions; and financial research services. Innova's clients include Franklin Templeton, Standard & Poor's, Finaplex Inc., ING Investment Management, Sanofi-Aventis, Kaiser Permanente, Intuit, PayPal, and others.
The acquisition is expected to provide synergies with Ness' current operations in the United States and India, adding directly to Ness' financial services practice as well as expanding the capacity of and further strengthening Ness' other core verticals, such as independent software vendors (ISVs) and life sciences. Following the acquisition, the Hyderabad delivery center will become Ness' third major delivery center in India, complementing Ness' existing delivery centers in Bangalore and Mumbai. Upon completion of the acquisition, Innova will change its name to Ness Financial and Business Innovation Services. Innova's President and Chief Operating Officer, Rajkumar Velagapudi, will continue in his current role, and Innova's current management team will continue to manage the existing operations. Mr. Velagapudi will report to Raviv Zoller, President and Chief Executive Officer of Ness Technologies.
"Innova brings a wealth of expertise and experience in financial services, as well as an excellent delivery organization, and will complement Ness' IT services and solutions in our core verticals, while expanding our Indian offshore delivery capacity," said Mr. Zoller. "The financial services industry represents one of the biggest global opportunities for Ness and the acquisition of Innova will further position us to meet the demands of this market. We have been following Innova for the past year and we are very impressed with the capabilities of its management team."
"We are very proud to become a part of Ness Technologies, a global IT services leader," said Mr. Velagapudi. "The leadership of Ness is well known for effectively leveraging the distinctive strengths of its operating units. Ness and Innova share a commitment to growth, an orientation toward long-term relationships, and a bias for action and innovation that creates superior service capabilities. Ness has a management culture, client relationships and operating resources that complement and reinforce the business and technology services offered by Innova. We look forward to contributing significant value to Ness."
About Ness Technologies
Ness Technologies (NASDAQ: NSTC - News) is a global provider of end-to-end IT services and solutions designed to help clients improve competitiveness and efficiency. Specializing in outsourcing and offshore, systems integration and application development, software and consulting, and quality assurance and training, Ness serves a blue-chip client base of over 500 public- and private-sector customers. With over 5,900 employees, Ness maintains operations in 16 countries across North America, Europe and Asia, and more than 100 alliances and partnerships around the world. For more information about Ness Technologies, visit www.ness.com.
About Innova Solutions
Headquartered in Santa Clara, California, Innova Solutions is an IT services provider and system integrator offering a portfolio of offshore and on-site IT services and solutions to the financial services, life sciences and healthcare, high technology and independent software vendor, and telecommunications industries. Services provided by Innova include software solutions for financial data services and business operations such as wealth management and transfer agency systems, investment management systems, and trade operations solutions; product engineering; package implementation; custom solutions; and financial research services. Its clients include Franklin Templeton, Standard & Poor's, Finaplex Inc., FiServ Trust Company, ING Investment Management, M&T Bank, Sanofi-Aventis, Kaiser Permanente, Cisco, Intuit, PayPal, Cingular Wireless and others. For more information about Innova Solutions, visit www.innova-usa.com.
midastouch017
19 years ago
SAP and Ness Technologies Extend the Distribution Agreement for Israel
Friday December 23, 8:16 am ET
TEL AVIV, Israel, December 23 /PRNewswire-FirstCall/ -- Ness Technologies Inc. (NASDAQ: NSTC - News), a global provider of information technology solutions and services, today announced that it has extended its distribution agreement with SAP AG (NYSE: SAP - News) for the Israeli market until 2010.
For the last 11 years Ness Technologies has been partnering with SAP in Israel as the product and professional services arm of SAP in Israel.
There are 196 mySAP installations at Israel's leading companies and organizations with more than 100,000 end-users. SAP is the leading provider of ERP solutions in Israel and 15 of Israel's 20 largest corporations use SAP systems. In addition, SAP serves Israeli government ministries and agencies. Ness Technologies also partners with SAP worldwide to deliver innovative ERP solutions.
"The extension of the agreement reflects the excellent ongoing relationship between Ness Technologies and SAP for the last 11 years," said Ishay Shniadower, President of Ness Israel's SAP Group. "We are fully committed to ensuring the success of the partnership between our companies, and SAP's decision to sign the follow-on agreement is a recognition of this commitment. The partnership with SAP will continue to be instrumental for Ness' global expansion."
"We are highly satisfied with the results that have been achieved by Ness Technologies," said Sergio Maccotta, Managing Director, SAP Middle East. "Ness Technologies has positioned SAP as the leading provider of ERP, CRM, SRM and a variety of industry solutions, in the Israeli market. We are looking forward to further strengthen our relationships in the coming years."
About SAP
SAP is the world's leading provider of business software solutions*. Today, more than 29,800 customers in over 120 countries run more than 100,600 installations of SAP® software-from distinct solutions addressing the needs of small and midsize enterprises to suite solutions for global organizations. Powered by the SAP NetWeaver® platform to drive innovation and enable business change, mySAP(TM) Business Suite solutions are helping enterprises around the world improve customer relationships, enhance partner collaboration and create efficiencies across their supply chains and business operations. SAP industry solutions support the unique business processes of more than 25 industry segments, including high tech, retail, public sector and financial services. With subsidiaries in more than 50 countries, the company is listed on several exchanges, including the Frankfurt stock exchange and NYSE under the symbol "SAP." (Additional information at http://www.sap.com)
(*) SAP defines business software solutions as comprising enterprise resource planning and related software solutions such as supply chain management, customer relationship management, product life-cycle management and supplier relationship management.
About Ness Technologies
Ness Technologies (NASDAQ: NSTC - News) is a global provider of end-to-end IT services and solutions designed to help clients improve competitiveness and efficiency. Specializing in outsourcing and offshore, systems integration and application development, software and consulting, and quality assurance and training, Ness serves a blue-chip client base of over 500 public- and private-sector customers. With over 5,900 employees, Ness maintains operations in 15 countries across North America, Europe and Asia, and more than 100 alliances and partnerships around the world. For more information about Ness, visit www.ness.com.
http://biz.yahoo.com/prnews/051223/ukf004.html?.v=41
Dubi
ByloCellhi
19 years ago
Ness Wins 10Yr $8.5M Contract
Ness Technologies Wins Ten-Year $8.5 Million Outsourcing Contract With Israel's Yellow Pages
Monday December 19, 6:01 am ET
http://biz.yahoo.com/prnews/051219/ukm002.html?.v=38
HACKENSACK, New Jersey, December 19 /PRNewswire-FirstCall/ -- Ness Technologies, Inc. (NASDAQ: NSTC - News), a global provider of IT solutions and services, today announced that it has won a ten-year outsourcing contract worth approximately $8.5 million with Israel's Yellow Pages. The contract represents one of the largest outsourcing projects in Israel. The project includes overall responsibility for Yellow Pages' IT infrastructure and support for the company's 500 users.
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The outsourcing project at Israel's Yellow Pages raises the joint activity between Ness and Yellow Pages to a new level. Over the past three years, Ness Technologies has provided Israel's Yellow Pages with IT operation and support services, including the implementation of service and support methodologies. Ness' strong capabilities in operating Israel's Yellow Pages' IT site gave the company a clear advantage in Yellow Pages' decision to choose Ness as its outsourcing vendor.
"The fact that Israel's Yellow Pages selected the outsourcing model reflects a growing trend among organizations that prefer to outsource their IT operations to specialized vendors," said Shachar Efal, President of Ness Israel. "This trend enables companies to focus on their core business, streamline and conserve resources without having to give up on implementing the most advanced technologies."
"Technological innovation and progress are of utmost importance to Yellow Pages, especially in light of the company's accelerated penetration into digital media - the Internet, cellular communications and interactive TV," said Eyal Carmeli, Deputy CEO of Israel's Yellow Pages. "We believe that the transition to a full outsourcing model will reduce IT costs, while keeping the company technologically current at any given point in time. We view Ness Technologies as a partner responsible for the company's IT infrastructure and for user support."
Ness Technologies continues to establish itself as the leading company in the Israeli outsourcing industry, a position reflected in various market studies. The contract awarded to Ness by Israel's Yellow Pages follows additional outsourcing projects conducted by Ness Technologies for such companies as the First International Bank of Israel; Migdal Insurance Company; Hagichon - the Jerusalem Municipality's water and wastewater corporation; Tadiran Systems; Sano; Rav-Bariach; the Academic College of Tel Aviv-Jaffa; Sheba Hospital; Mul-T-Lock; ORT; Partner Communications; Applied Materials; insurance agencies; pension funds; YES - Israel's satellite television broadcaster; the Industrial Development Bank of Israel, and others.
About Israel's Yellow Pages
Israel's Yellow Pages provides comprehensive and dynamic information about products, services and businesses, and provides tools for choosing among them. The company also provides aids for completing transactions between buyers and sellers, anywhere - on the company's website (www.d.co.il), on cellular phones, and in 80 printed guides with a circulation of 5 million copies distributed for free.
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