BluePhoenix Signs Partnership Agreement With Turkey's KocSistem; Two Firms Completed Joint Project for Isbank.HERZLIA, Israel -- Automated LiraEnabler Tool Used for Redenomination of Turkish Lira; New Partnership Will Offer Modernization Tools and Services BluePhoenix Solutions (Nasdaq:BPHX), the leader in Enterprise IT Modernization, announced today that it has signed a partnership agreement with KocSistem, a large system integrator in Turkey. In addition, the two companies announced the successful completion of a transformation project for Isbank, Turkey's first national bank, utilizing the BluePhoenix(TM) LiraEnabler tool. Under terms of the agreement, BluePhoenix will provide KocSistem with its portfolio of modernization solutions, automated database and application migration tools, methodology, and migration services for a wide range of IT modernization projects in Turkey. KocSistem will actively market and sell these solutions to existing customers and new prospects. "KocSistem is one of the most qualified and well established system integrators in Turkey and throughout the region," said Mario Zerini, regional director of Southern Europe Southern Europe or sometimes Mediterranean Europe is a region of the European continent. There is no clear definition of the term which can vary depending on whether geographic, cultural, linguistic or historical factors are taken into account. and Asia for BluePhoenix Solutions. "Our two teams compliment each other and worked extremely well together on our first joint project for Isbank. Through that process, it became clear to both companies that as partners, we could offer a much higher level of expertise and synergy to potential migration and modernization clients. We look forward to a strong partnership." The companies' first joint project was performed for Isbank, Turkey's first national private bank, headquartered in Istanbul, one the world's largest corporations. The project used the highly automated BluePhoenix(TM) LiraEnabler technology to revise all monetary fields in the bank's extensive legacy applications and data files in order to comply with the new YTL YTL Yeoh Tiong Lay (Corporation Berhad) YTL Ylioppilastutkintolautakunta (Finnish Matriculation Examination Board) YTL Small Harbor Tug YTL Yeni Türk Lirasý (New Turkish Lira) (Yeni Turkish Lira) currency guidelines. The new Turkish lira is the current currency of Turkey and Turkish Republic of Northern Cyprus, issued on January 1, 2005. It is equivalent to 1 million old Turkish lira, which will remain valid until the end of 2005. The project began in September 2004 and was completed two weeks ahead of schedule to meet the year-end government-mandated deadline. The legacy environment at Isbank consists of COBOL COBOL: see programming language. COBOL in full Common Business-Oriented Language. High-level computer programming language, one of the first widely used languages and for many years the most popular language in the business community. programs, COBOL copybooks, IMS (1) See IP Multimedia Subsystem. (2) (Information Management System) An early IBM hierarchical DBMS for IBM mainframes. IMS was widely implemented throughout the 1970s under MVS and continues to be used under z/OS. DB/DC (DataBase/Data Communications) Refers to software that performs database and data communications functions. , JCL (Job Control Language) A command language for mini and mainframe operating systems that launches applications. It specifies priority, program size and running sequence as well as the files and databases used. JCL - Job Control Language , PROCs, as well as IMS, VSAM (Virtual Storage Access Method) An IBM access method for storing data, widely used in IBM mainframes. It uses the B+tree method for organizing data. VSAM - Virtual Storage Access Method , and sequential files. BluePhoenix and KocSistem began the effort with a system-wide global assessment to determine which assets required remediation. Following the assessment phase, the applications were organized into operational clusters for the most efficient conversion. In all, the project involved analysis of nearly 10 million lines of code The statements and instructions that a programmer writes when creating a program. One line of this "source code" may generate one machine instruction or several depending on the programming language. A line of code in assembly language is typically turned into one machine instruction. that make up about 9,800 COBOL programs and 8,500 copybooks along with another 20,000 JCL and PROCs members, and around 1,000 IMS databases. About half of the programs and a third of the copybooks were remediated and part of the IMS files were converted to the new YTL currency. The files and applications are actively used throughout the bank's entire network, over 850 branches in Turkey and overseas. "Considering the very short time schedule and the widespread nature of the bank's network, this was an extremely complex and important assignment for us," said Mehmet Abaci ab·a·ci n. A plural of abacus. , YTL project manager for Isbank. "BluePhoenix and KocSistem did an outstanding and very professional job of managing the process and successfully completed the entire transition well ahead of schedule." About Isbank Established in 1924 just after the Republic of Turkey was formed, Isbank holds the honor of being the country's first truly national bank. The Bank tops the list of Turkey's most respected enterprises, and is included among the world's largest corporations. The Bank closed 2004 with $29 Billion in total assets. Publicly traded firms since inception, Isbank shares are listed on the Istanbul and London Stock Exchanges London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. . The Bank operates more than 850 branches across the country and overseas and its market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. ranks second among private corporations in Turkey. http://www.isbank.com.tr About KocSistem KocSistem is one of the largest local IT systems integrator in Turkey and traces its corporate lineage to some of the pioneering names in business computing. The company began as an affiliate of the US-based Burroughs Corporation (company) Burroughs Corporation - A company which merged with Sperry Univac to form Unisys Corporation. They produced the Datatron 200 series among other computers. in 1945 and evolved through several mergers over the years to represent Sperry, then Unisys. In 1997, the company was renamed KocSistem. It is a member of the Koc Group, one of the largest multinational firms in Turkey. KocSistem employs more than 500 professionals at 25 locations in Turkey providing system integration services to clients in telecommunications, finance, government, Industry, and commerce. www.kocsistem.com.tr 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, (including technology for Understanding, Presentment, Migration, Remediation and Redevelopment), reduces the cost of renovation and speeds up the renewal process. BluePhoenix has 12 offices throughout the world, including locations in the US, UK, Denmark, Germany, Italy, The Netherlands, Australia 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 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. All names and trademarks are their owners' property. |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion