BluePhoenix Acquires CePost, an Innovative Report Modernization Software Company.Business Editors/High-Tech Writers HERZLIA, Israel--(BUSINESS WIRE)--Jan. 12, 2004 The Acquisition Will Enable BluePhoenix to Expand Its Wide Range of Solutions to Include Non-Invasive Modernization modernization Transformation of a society from a rural and agrarian condition to a secular, urban, and industrial one. It is closely linked with industrialization. As societies modernize, the individual becomes increasingly important, gradually replacing the family, Products BluePhoenix Solutions (Nasdaq:BPHX), the leader in Enterprise IT Modernization, today announced that it has signed a share purchase agreement to acquire all of the outstanding shares of CePost, an innovative software company that develops and markets leading software solutions for Electronic Document Mining, Management and Presentment. The immediate direct contribution to BluePhoenix results will not be material. However, CePost's products are considered valuable as they can generate added value Added value in financial analysis of shares is to be distinguished from value added. Used as a measure of shareholder value, calculated using the formula:
Over the last four years, CePost has gained market recognition with installations at major financial, insurance and commercial organizations in Israel, such as Leumi Bank, which have led to significant cost savings and marketing advantages. They achieved this impressive track record by offering easy-to-use and easy-to-implement solutions that intelligently mine text and reports, converting the information originally generated by legacy systems into Web-enabled formats such as HTML HTML in full HyperText Markup Language Markup language derived from SGML that is used to prepare hypertext documents. Relatively easy for nonprogrammers to master, HTML is the language used for documents on the World Wide Web. , XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. and XSL (eXtensible Stylesheet Language) A standard from the W3C for describing a style sheet for XML documents. It is the XML counterpart to the Cascading Style Sheets (CSS) in HTML and is compatible with CSS2. . Accessing this wealth of legacy information and then selectively transforming it for Web based-display solves one of the big challenges organizations are facing these days, the reuse of existing text-based reports and information. CePost's offerings thus enable medium and large organizations to offer their customers immediate graphical display and Web-based delivery of invoices, statements, bills, reports, policies, and more. "As part of our long-term strategy to increase the measurable added value that our solutions bring to our customers, we are focusing on expanding the capabilities of our range of Modernization offerings," added Arik Kilman, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of BluePhoenix Solutions. "The CePost acquisition will allow us to offer our customers non-invasive modernization solutions in addition to our already extensive line of Understanding, Migration, Transformation, and Redevelopment solutions. Additionally, CePost's solutions are particularly useful in the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. market in which we already have a strong customer base." About BluePhoenix Solutions BluePhoenix Solutions leads the IT Modernization market by developing unique solutions that enable companies to automate the process of modernizing and upgrading their mainframe and distributed IT infrastructure, thus quickly and cost-effectively extending the ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). of their existing IT systems. The company's comprehensive suite of tools and services is based on a two-step process -- Understanding and Implementation (Migration, Transformation and Redevelopment). BluePhoenix has 11 offices throughout the world, including locations in the US, UK, Denmark, Germany, Italy, The Netherlands, and Israel. The company's major shareholder is Formula Systems (Nasdaq:FORTY), an international Information Technology company principally engaged in providing software products, solutions, and services in various vertical markets. For more information, please visit our web site at www.bphx.com. SAFE HARBOR Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. : Certain statements contained in this release may be deemed forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , 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, successful implementation of the Company's tools, competitive factors, the ability to manage the Company's growth, the ability to recruit and retrain re·train tr. & intr.v. re·trained, re·train·ing, re·trains To train or undergo training again. re·train additional software personnel, and the ability to develop new business lines. This press release is also available at www.bphx.com. All names and trademarks are their owners' property. |
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