Herzelia, Israel, February 6, 2012 –BluePhoenix Solutions (NASDAQ: BPHX), the leading provider of value-driven legacy IT modernization solutions, today announced that Mel Keating has been appointed as BluePhoenix’s new Chairman of the Board of Directors.
“Mel is a proven leader who has demonstrated his value to many companies in his service to their Boards,” said Shimon Bar-Kama, Chief Executive Officer of the Company. “The Board believes that Mel has the experience and skills required to assist in a turnaround at BluePhoenix.”
Mel Keating has served as a Director, CEO, CFO and strategy advisor to private equity firms over the last 30 years. Keating has field proven experience in successful corporate turnarounds and restructurings. Most recently, as a director of Aspect Medical Systems, White Electronic Designs, Integral Systems and Infologix, all were sold with significant premium on their market prices, Keating served as a member of their respective Strategic Alternatives Committees. He graduated both MS-Accounting and MBA – Finance degrees from Wharton, University of Pennsylvania. In addition, he has a BA in art history from Rutgers University.
About BluePhoenix Solutions
BluePhoenix Solutions, Ltd. (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, rehosting, 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 and TEMENOS. BluePhoenix has 11 offices in the USA, UK, Italy, Romania, Russia, Cyprus, and Israel.
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