Banco Itau Deploys Saba to Increase Learning Capabilities in Brazil; Fast-Growing Financial Institution Plans to Use Saba to Align Employees Throughout Branches.Business Editors/High-Tech Writers REDWOOD SHORES, Calif.--(BUSINESS WIRE)--April 15, 2003 Saba (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :SABA), the leading provider of Human Capital Development and Management (HCDM HCDM Human Capital Development and Management ) solutions, today announced that Banco Itau S.A. (NYSE NYSE See: New York Stock Exchange :ITU (International Telecommunication Union, Geneva, Switzerland, www.itu.ch) A telecommunications standards body that is under the auspices of the United Nations. Comprising more than 185 member countries, the ITU sets standards for global telecom networks. ), the second largest national private bank in Brazil, and value added reseller See VAR. (company) value added reseller - (VAR, or "value added retailer") A company which sells something (e.g. computers) made by another company (an OEM) with extra components added (e.g. specialist software). , Aquarius, have deployed Saba. Banco Itau intends to use Saba to deliver training designed to align the skills of its 45,000 employees and accelerate new products and services to market. Banco Itau plans to use Saba to provide and manage blended learning in Brazilian Portuguese for employees throughout its 2,500 branches and affiliated companies Affiliated Companies A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. -- from the city of Sao Paulo to the remote Amazon. With timely knowledge and skills regarding new products and services, Banco Itau employees will have the ability to quickly deliver consistent quality service that increases customer satisfaction. "Our consistent performance, trustworthy image, and ongoing improvements in the quality of services are related to our investments in our people. With Saba, we intend to improve our capability to meet the development needs of our employees and help them better serve our customers," said Jose Valerio Macucci, People Development Director, Banco Itau. "Banco Itau believes that its people are its most important asset and places a high priority on attracting, developing, and retaining employees," said Bobby Yazdani, Saba President and COO. "We look forward to supporting Banco Itau as it increases its competitive foothold in the Brazilian market." About Banco Itau Currently Itau is the second largest national private bank, with R$ 7.8 billion in shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. and R$ 79.8 billion in assets at the end of 1st Quarter of 2002. Itau is an organization that is strictly centered on banking and financial operations. Itau is a multiple bank, operating with commercial, investment, consumer loans and mortgage portfolios. The bank also stands out in the areas of leasing, underwriting, custody, security brokerage, management of mutual funds and third-party resources, insurance, capitalization, pension funds, foreign exchange, corporate finance and foreign trade financing. For more information, please visit www.itau.com.br About Saba Saba (Nasdaq:SABA) is the leading provider of Human Capital Development and Management (HCDM) solutions. Saba offerings include an integrated Internet-based platform to manage learning, content, performance, collaboration, and related professional services. Organizations around the world rely on the Saba platform to ensure that their customers, partners, and employees have the knowledge and skills required to successfully execute business initiatives. Among the Global 2000, Saba customers include Kaiser Permanente, Alcatel, Telecom Italia, DaimlerChrysler, Procter & Gamble, Medtronic, Anheuser-Busch, Ford Motor Company, Continental Airlines, Cisco Systems, EMC (1) (EMC Corporation, Hopkinton, MA, www.emc.com) The leading supplier of storage products for midrange computers and mainframes. Founded in 1979 by Richard J. Egan and Roger Marino, EMC has developed advanced storage and retrieval technologies for the world's largest companies. Corp., and VERITAS Software. The Saba ecosystem of partners includes Allos, Buck Consultants and Mellon HR Solutions, Cisco, Deloitte Consulting, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) Business Consulting Services, and SchlumbergerSema. Saba recently achieved the leader quadrant position in the Gartner 2003 e-Learning Suite "Magic Quadrant". Founded in 1997, Saba is headquartered in Redwood Shores, California Redwood Shores is an upscale and desirable [1] waterfront neighborhood on the San Francisco Peninsula in California. It is located on the eastern edge of Belmont, but is actually part of incorporated Redwood City. , with offices worldwide. For more information, please visit www.saba.com or call (877) SABA-101 or (650) 779-2791. Saba, the Saba logo, and the marks relating to other Saba products and services referenced herein are either trademarks or registered trademarks of Saba Software, Inc. All other trademarks are the property of their respective owners. |
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