This excerpt taken from the BPHX 6-K filed Jun 27, 2006.
BluePhoenix Participates in IBM Cyprus Euro-Zone Conversion Event
NICOSIA, Cyprus & HERZLIA, Israel June 27, 2006 BluePhoenix Solutions (NASDAQ: BPHX), the leader in Enterprise IT Modernization, today announced that it will participate in IBM Cyprus TRANSITION TO THE EURO ZONE. ARE YOU READY? event.
IBM Cyprus is organizing the TRANSITION TO THE EURO ZONE. ARE YOU READY? event which will cover one of the hottest topics of the Cyprus economy the conversion of the local currency, the Cyprus pound, to the Euro-zone. The event will take place on June 29th. High level management professionals from both the private and public sectors are invited to attend.
IBM Cyprus and BluePhoenix Solutions combined their expertise to respond to the current variable market situation and help local organizations prepare for the transition to the euro. Both companies provide complete solutions to organizations that wish to migrate from the Cyprus pound to the euro.
The euro migration services offered by IBM and BluePhoenix Solutions cover the whole spectrum of customer needs, providing consultancy services for the preparation of a strategic migration to euro readiness, the mapping of applications and the creation of a migration plan. IBM and BluePhoenix currently work with customers in Cyprus to help them address the euro challenge.
IBM has experience with complex projects and implementations and provides companies with complete consulting services for the euro transition, said Kyriacos Kokkinos, general manager, IBM Cyprus. We are confident that IBMs selection as the implementer of these solutions will meet our customers´ expectations. IBM is committed to responding timely and effectively to this difficult role.
BluePhoenix has been successfully providing euro conversion solutions since their initial introduction in January 1999, said Hanan Stempler, vice president of sales at BluePhoenix. Our Euro conversion solutions are based on the solid technological ground that was proven successfully in a wide range of complicated modernization projects. This is now the third wave of euro conversions and BluePhoenix is at the forefront with its enhanced automated EuroEnabler tool and extensive experience. Not only has our tool evolved and improved with every wave, but we have also significantly increased the number of IT environments we support.
About BluePhoenix Solutions (www.bphx.com)
Its solutions serve companies from numerous diverse industries, such as automotive, banking and financial services, insurance, manufacturing and retail. Among its prestigious customers are: Aflac, DaimlerChrysler, Danish Commerce and Companies Agency, Europe Assistance, Lawson Products, Los Angeles County Employees Retirement Association, Merrill Lynch, SDC Udvikling and TEMENOS. BluePhoenix has 12 offices in the U.S., UK, Denmark, Germany, Italy, the Netherlands, Australia and Israel. The companys major shareholder is Formula Systems (NASDAQ: FORTY), an international information technology company.
SAFE HARBOR: Certain statements contained in this release may be deemed forward-looking statements, 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 Companys tools, successful implementation of the Companys tools, competitive factors, the ability to manage the Companys growth, the ability to recruit and retrain additional software personnel, and the ability to develop new business lines.
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