Conversion Services International Announces Sale of Evoke Software to Similarity Systems
July 18 2005 - 10:00AM
PR Newswire (US)
Conversion Services International Announces Sale of Evoke Software
to Similarity Systems EAST HANOVER, N.J., July 18
/PRNewswire-FirstCall/ -- Conversion Services International, Inc.
(OTC:CSII) (BULLETIN BOARD: CSII) ("CSI"), a premier professional
services firm focused on delivering the value in business
intelligence, data warehousing and data management solutions to
Global 2000 organizations and other businesses, today announced its
sale of Evoke Software Corporation to Similarity Systems. Terms of
the transaction were not disclosed. CSI originally acquired the
assets of Evoke Software, a provider of data discovery and
profiling software, in 2004. Scott Newman, CSI's President, Chief
Executive Officer and Chairman, said, "We consider Evoke Software's
AXIO product to be one of the finest in the industry. At this
juncture, our strategic forward direction is to focus heavily on
intensifying our professional services practices. As such, we chose
to exit the software product business by selling Evoke to
Similarity, with whom we have a long-standing productive business
relationship. The strengths of all of the organizations are better
leveraged under this arrangement." In Gartner's report entitled
MarketScope Update: Data Quality Technology 2005, it states that
the data quality technology market is at a critical point. Newman
added, "The combination of Evoke's AXIO product with Similarity
Systems' ATHANOR product creates a more comprehensive market
solution, which ultimately benefits our clients." Newman continued,
"Data quality is one of the most pressing issues faced by any
business today. Solid business decisions rest on quality data,
which is also imperative to compliance reporting requirements, such
as Sarbanes-Oxley. CSI's policy is to work with best-of-breed
software vendors and we will continue to work with AXIO and
ATHANOR, under the auspices of Similarity Systems, in our client
engagements." More information about this transaction can be
accessed in the Similarity Systems press release dated July 18,
2005. About Conversion Services International, Inc. Conversion
Services International, Inc. (CSI) is a leading provider of a new
category of professional services focusing on strategic consulting,
data warehousing, business intelligence, and information technology
management solutions. CSI offers an array of products and services
to help companies define, develop, and implement the warehousing
and strategic use of both enterprise-wide and specific categories
of strategic data. CSI's current customers include Verizon
Wireless, Morgan Stanley, Pfizer, Goldman Sachs, Merck and Standard
& Poor's. Information about CSI can be found on the web at
http://www.csiwhq.com/ or by calling its corporate headquarters at
888-CSI-5036. Note on Forward-Looking Statements Except for the
historical information contained herein, this press release
contains, among other things, certain forward-looking statements,
within the meaning of the Private Securities Litigation Reform Act
of 1995, which involve risks and uncertainties. Such statements may
include, without limitation, statements with respect to CSI's
plans, objectives, expectations and intentions and other statements
identified by words such as "may," "could," "would," "should,"
"believes," "expects," "anticipates," "estimates," "intends,"
"plans" or similar expressions. These statements are based upon the
current beliefs and expectations of CSI's management and are
subject to significant risks and uncertainties, including those
detailed in CSI's filings with the Securities and Exchange
Commission. Actual results may differ from those set forth in the
forward-looking statements. These forward-looking statements
involve certain risks and uncertainties that are subject to change
based on various factors (many of which are beyond CSI's control).
CSI undertakes no obligation to update publicly any forward-looking
statements. Note to editors: Trademarks and registered trademarks
contained herein remain the property of their respective owners.
DATASOURCE: Conversion Services International, Inc. CONTACT: Jeanne
Achille of The Devon Group, +1-732-542-2000, ext. 11 or , for
Conversion Services International Web site: http://www.csiwhq.com/
Copyright