BluePhoenix Solutions Signs $2 Million Deal to Deliver Modernized Management System to Singapore Government Agency

HERZLIYA, Israel--()--BluePhoenix Solutions (NASDAQ: BPHX), the leading provider of value-driven legacy IT modernization solutions, announced today that it has entered into an agreement with a large systems integrator to migrate a Singapore government application from a legacy mainframe platform to Java, Oracle, and Sun technology.

BluePhoenix has been hired to convert a Dec-Alpha Adabas/Natural environment to a Java/Oracle environment running on Sun hardware. “Legacy Modernization projects like this one are popular right now because they have been postponed for so long and our technology automates the process of migration to either a Java or .Net environment saving customers a significant amount of money,” says Shimon Bar-Kama, CEO of BluePhoenix. He went on to say that with Oracle’s acquisition of Sun, he is seeing a noticeable increase in this type of conversion project. “A significant part of our go-to market strategy in the future is to partner with leading systems integrators as we did on this project and help deliver more successful outcomes on time and under budget,” added Bar-Kama.

BluePhoenix is targeting customers to assist them in addressing the problem of having legacy applications trapped in costly environments where web integration, customization and other application integration is very difficult. In the past, enterprises with legacy applications looking to migrate to modern platforms only had two choices; hire an outsourcing company to convert code manually where mistakes are common, or pay outrageous fees in maintenance contracts. BluePhoenix offers a best-of-both-worlds solution which automates the process of regenerating an application in the new infrastructure with virtually no mistakes and in a very timely manner.

About BluePhoenix Solutions

BluePhoenix Solutions, Ltd. (NASDAQ: BPHX) is the leading provider of value-driven legacy IT modernization solutions. The BluePhoenix portfolio includes a comprehensive suite of tools and services from global IT asset assessment and impact analysis to automated database and application migration, rehosting, and renewal. Leveraging over 20 years of best-practice domain expertise, BluePhoenix works closely with its customers to ascertain which assets should be migrated, redeveloped, or wrapped for reuse as services or business processes, to protect and increase the value of their business applications and legacy systems with minimized risk and downtime.

BluePhoenix provides modernization solutions to companies from diverse industries and vertical markets such as automotive, banking and financial services, insurance, manufacturing, and retail. BluePhoenix has 10 offices in the USA, UK, Italy, Romania, Russia, and Israel.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this release may be deemed forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal Securities laws. You can identify these and other forward-looking statements by the use of words such as “may,” “will,” “plans,” “believes,” “estimates,” “expects”, “predicts”, “intends,” the negative of such terms, or other comparable terminology. Because such statements deal with future events, plans, projections, or future performance of the Company, they are subject to various risks and uncertainties that could cause actual results to differ materially from the Company’s current expectations. These risks and uncertainties include but are not limited to: the failure of the Company's shareholders to approve the transactions described above; the failure of the banks holding the first lien on the Company's assets to consent to the transactions described above; the failure to successfully defend claims brought against the Company; the failure of the Company to pursue other capital raising transactions; the failure of the company to repay its debts to lenders and banks; the effects of the global economic and financial crisis; market demand for the Company’s products; successful implementation of the Company’s products; changes in the competitive landscape, including new competitors or the impact of competitive pricing and products; the failure of the Company to successfully integrate acquired assets or entities under M&A transactions pursued by the Company into the Company’s business as anticipated; the failure to achieve the anticipated synergies from such acquisitions; the incurrence of unexpected liabilities relating to the mergers and acquisitions pursued by the Company from time to time; the ability to manage the Company’s growth; the ability to recruit and retain additional software personnel; the ability to develop new business lines; and such other risks and uncertainties as identified in BluePhoenix’s most recent Annual Report on Form 20-F and other reports filed by it with the SEC. Except as otherwise required by law, BluePhoenix undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

This press release is also available at www.bphx.com. All names and trademarks are their owners’ property.

Contacts

Company Contact:
BluePhoenix Solutions
Nir Peles, +972-9-9526110
NPeles@bphx.com

Release Summary

BluePhoenix announced it has entered into an agreement with a large systems integrator to migrate a Singapore government application from a legacy mainframe platform to Java, Oracle, Sun technology

Contacts

Company Contact:
BluePhoenix Solutions
Nir Peles, +972-9-9526110
NPeles@bphx.com