Nov. 29, 1999
HERZLIYA, Israel --(BUSINESS WIRE)--Nov. 29, 1999--In the November 10, 1999 issue of the GartnerGroup publication `IT Journal', Gartner Group analysts commented on the strategic alliance between IBM Global Services and Crystal Systems Solutions (NASDAQ:CRYS ) announced on November 2, 1999.
Analysts Nick Jones and Andrea Di Maio of GartnerGroup's European Monetary Union Strategies, in their ``Gartner First Take', see Crystal's C-EURO, as ``the leading EURO code transformation tool' with which ``IBM Global Services has expanded its abilities to help customers convert to EUROs'. Jones and De Maio added that, ``the need for automation will likely grow because many enterprises are facing time or staff constraints that preclude manual approaches'.
Gartner's analysis agrees with the conclusion made by Dr. Andreas Erdmann, IBM EURO Global Offering Executive, ``With the limited time left to prepare, companies are seeking an efficient, automated solution for their EURO conversion projects. C-EURO Enterprise Solution is an ideal enrichment of the existing IBM EURO offering.'
Dr. Erdmann added, ``With a wealth of experience from hundreds of EURO customer engagements and the conversion of IBM's internal IT systems, we recognize the technical challenge and the critical relationship between the technical and business aspects of EURO transition. To meet this challenge, we are incorporating Crystal's C-EURO tool and methodology for converting applications and databases.'
Gartner's Jones and De Maio concluded, stating that, ``We are generally positive about this announcement. From IBM's viewpoint, it represents a sound tactical move. Crystal is the leading EURO code transformation tool and the alliance broadens IBM's capabilities . . . this alliance places IBM at the top of the list of vendors to be contacted by large enterprises seeking transformational EURO compliance services . . .'
The full Gartner report is available from the GartnerGroup under the title `IBM Sees The Future in Crystal' dated November 10, 1999.
About CRYSTAL Systems Solutions
Established in 1987, Crystal Systems Solutions Ltd. (NASDAQ:CRYS ) provides software renovation solutions, based on its proprietary technology, for complex conversion and migration projects. Crystal has built its conversion expertise through the successful completion of projects for many prestigious Fortune 500 companies, thus establishing its competency and achieving global recognition and presence.
The Crystal renovation methodology consists of several phases, including assessment, conversion and testing. This methodology allows for tailor-made adjustments to the automated process, based on client requests, thus providing cost-effective, customized solutions.
Crystal's renovation solutions include platform and database migrations, IT mergers and acquisitions, and language upgrades. They are available for mainframe, midrange and client/server computing platforms.
Crystal Systems Solutions is a member of the Formula Group (NASDAQ:FORTY ), which is the largest public IT group in Israel.
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, especially demand for decimalization 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.
Contact:
Iris Yahal/Chief Financial Officer
Crystal System Solutions
972-9-952-6110
or
Investor Relations Contact:
Richard Schineller/Jill Meleski
Morgen-Walke Associates, Inc.
(212) 850-5600
or
Press Contacts:
Jennifer Gery
Morgen-Walke Associates, Inc.
(212) 850-5600