CBIS In Agreement To Buy Nearly 20 Percent Of Wiztec Solutions Ltd.HERZLIA, Israel & CINCINNATI--(BUSINESS WIRE)--Aug. 20, 1997-- Global Subscriber Management Leaders Also in Marketing Agreement CBIS CBIS Computer Based Information System CBIS Christian Brothers Investment Services CBIS Cincinnati Bell Information Systems CBIS Chinese Biodiversity Information System CBIS Certified Brain Injury Specialist (R) announced today that it has reached agreement with Wiztec Solutions Ltd., (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 :WIZTF) of Herzlia, Israel, to purchase nearly 20 percent of Wiztec's shares. A total of 1.3 million Wiztec shares is being sold by the company and certain individual shareholders at $8.50 each. CBIS has also obtained the option to purchase a controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in Wiztec over the next two years. Wiztec is a leading provider of subscriber management systems for multi-channel subscription television. The agreement must still be approved by the Wiztec board and shareholders and regulatory agencies. Under terms of the agreement, CBIS will have exclusive rights to market Wiztec's WIZARD cable, broadband, and direct broadcast satellite (DBS (Direct Broadcast Satellite) A one-way TV broadcast service from a communications satellite to a small round or oval dish antenna no larger than 20" in diameter. ) customer care and billing solutions in North America, and non-exclusive rights to market these solutions worldwide. CBIS and Wiztec, both leaders in customer care and billing solutions for the global cable television industry, also agree to jointly develop next-generation software to meet the rapidly expanding DBS and cable TV services markets. "The new relationship we announce today will help us strengthen our presence in the global cable and broadband marketplaces by capitalizing on the many strengths and synergies between CBIS and Wiztec," said Robert J. Marino, president and 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 CBIS. "Our investment in Wiztec along with our continuing investments in the features and functionality of CableMaster and ICOMS ICOMS Integrated Communications Operations Management system ICOMS Improved Conventional Mine System confirms to our clients that CBIS is committed to being the global leader in subscriber management solutions." "Through this strategic alliance, our joint capabilities will be enhanced with the subscriber management technology and experience necessary to increase our North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. presence and complement our customer care and billing leadership while, at the same time, allowing Wiztec's US subsidiary (formerly BSI BSI - British Standards Institute ) to continue addressing its traditional markets," said Wiztec President and CEO Yaron Polak. "The strength of our joint efforts will provide our cable, broadband, and DBS clients with the further North American commitment and resources necessary to ensure essential, long-term support." Marino added, "For the first time, WIZARD will be available in a service bureau environment. When offered in addition to the robust feature-set already contained in our signature CableMaster and ICOMS solutions, the joint CBIS-Wiztec capabilities will meet the widest range of subscriber management requirements." ABOUT WIZTEC Wiztec Solutions Ltd., develops, markets and supports computer software which provides multi-channel subscription television system operators with one of the most comprehensive and advanced subscriber management systems available. The company's software incorporates subscriber management functions such as billing, collection, customer service, work order processing, equipment inventory control, and customer analysis for target marketing. ABOUT CBIS CBIS is the global leader in the provision and management of customer care and billing solutions for the communications industry. Our solutions perform mission-critical activities for our clients, enabling them to compete and differentiate themselves more effectively in the broad range of wireless, wireline, cable TV, Internet, and emerging communications services. Our experience, knowledge, and scale, as well as our client support, make us an industry leader. Working in our data center hubs and in client installations around the world, our customer care and billing solutions produce more than 300 million bills each year. CBIS is a Cincinnati Bell company -- an Equal Employment Opportunity/ Affirmative Action affirmative action, in the United States, programs to overcome the effects of past societal discrimination by allocating jobs and resources to members of specific groups, such as minorities and women. Employer committed to a diverse work force. We're on the web at http://www.cbis.com Cincinnati Bell Inc. (NYSE NYSE See: New York Stock Exchange : CSN CSN Crosby, Stills, and Nash (band) CSN Centrala studiestödsnämnden (Swedish: state education grant and loan program) CSN Confédération des Syndicats Nationaux (French) ) is a $1.6 billion corporation which supplies telecommunications, information management, and marketing services. Other subsidiaries include Cincinnati Bell Telephone, a major, independent telephone company, and MATRIXX Marketing, the world's largest provider of telephone marketing services. CBIS is a registered service mark of Cincinnati Bell Information Systems Inc. CONTACT: John Pratt, Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Manager +513.723.3669 or +800.327.3900 In the UK, free-phone 0800.895.185 E-Mail: john.pratt@cbis.com |
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