Herzeliya, Israel – March 28, 2011 – BluePhoenix Solutions (NASDAQ: BPHX), the leader in value-driven IT modernization, today announced that it has been awarded a contract valued $840,000 from a leading financial company in Europe.
BluePhoenix partnered with a tier 1 global system integrator to deliver this modernization project. The main drivers for the modernization were reduction of costs associated with a legacy mainframe based COBOL application. The financial institution also required the ability to more rapidly enhance the legacy applications and be more agile to respond to market demands. BluePhoenix is providing an automated migration from IBM mainframe to IBM System P servers running against a DB2 database. The new solution is reliable, flexible and cost effective and enables the customer to develop its business without the constraints imposed by the legacy technology.
“We are excited to work with this important European financial institution, and to partner with one of the largest global system integrators. We have worked hard to provide high quality automated migration solutions and are very pleased to see another large financial institution realize this value,” said Greg Schottland, General Manager, Legacy Modernization Division of BluePhoenix Solutions. “This project also further expands our relationship with key global system integrators. We are encouraged by the positive traction we see in the market place.”
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, 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, 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 13 offices in the USA, UK, Denmark, Germany, Italy, The Netherlands, Romania, Russia, Cyprus, Australia, and Israel. For more information, visit www.bphx.com.
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Company Contact
Nir Peles, CFO
BluePhoenix Solutions
+972-9-9526110
NPeles@bphx.com