Ness Technologies Acquires Hungary's FMC Consulting and Informatics
November 26 2007 - 6:00AM
PR Newswire (US)
HACKENSACK, New Jersey, November 26 /PRNewswire-FirstCall/ -- Ness
Technologies, Inc (NASDAQ:NSTC), a global provider of information
technology services and solutions, today announced that it has
completed the acquisition of FMC Consulting and Informatics Ltd., a
privately-held IT consulting and services company based in Hungary.
For the full year 2006, FMC generated revenues of about $25 million
and was profitable. With a nearly five-year track record and over
200 consultants working on its projects, FMC has a strong
reputation in the consulting and information technology market in
Hungary. FMC's customers include leading companies such as Audi
Hungaria Motor, Gedeon Richter, K&H Bank, Magyar Telekom, MKB
Bank, MOL, OTP Bank, Raiffeisen Bank, Sanofi-Aventis and others.
FMC provides a broad range of integrated consulting and services,
including elaboration of strategy, process re-engineering, and
implementation of IT systems - in the areas of banking solutions,
business intelligence and customer relationship management, supply
chain solutions, finance, accounting and controlling, human
resources, and e-business solutions. "The acquisition of FMC is
another milestone in realizing our European strategy and
penetrating additional European markets," said Sachi Gerlitz,
President and CEO of Ness Technologies. "FMC's extensive expertise
in key verticals within Hungary is a valuable asset to Ness and
will further strengthen our presence in the Eastern European
emerging market." "I believe that FMC's strong consulting
background, combined with our IT capabilities, will create unique
added value, both for our existing customers and for our Eastern
European market as a whole," said Ivan Hruska, President of Ness
Europe. "There are many synergies between FMC's customers and ours,
and the strong, experienced management team at FMC will help us
realize these synergies quickly." "We are delighted to join Ness
Technologies and contribute our knowledge, expertise and experience
to Ness' portfolio," said Szabolcs Homola, co-founder and partner
of FMC, who will serve as FMC's managing director. "I am confident
that being a part of Ness Technologies will further enhance our
position in the Hungarian market, and will enable us to help Ness
with customers throughout Eastern Europe as well." About FMC
Founded in 2002, FMC provides a range of consulting and IT
services, from developing strategy, through business, functional
and technical specifications, up to and including implementation.
FMC helps companies and organizations enhance their competitive
edge and meet their business needs, by providing optimal solutions
in their environment. For more information about FMC, visit
http://www.fmc.hu/. About Ness Technologies Ness Technologies
(NASDAQ:NSTC) is a global provider of end-to-end IT services and
solutions designed to help clients improve competitiveness and
efficiency. Ness specializes in outsourcing and offshore, systems
integration and application development, software and consulting,
and quality assurance and training. With over 7,800 employees, Ness
maintains operations in 18 countries, and partners with numerous
software and hardware vendors worldwide. For more information about
Ness Technologies, visit http://www.ness.com/. Forward Looking
Statement This press release contains forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements often are preceded by words
such as "believes," "expects," "may," "anticipates," "plans,"
"intends," "assumes," "will" or similar expressions.
Forward-looking statements reflect management's current
expectations, as of the date of this press release, and involve
certain risks and uncertainties. Ness' actual results could differ
materially from those anticipated in these forward looking
statements as a result of various factors. Some of the factors that
could cause future results to materially differ from the recent
results or those projected in forward-looking statements include
the "Risk Factors" described in Ness' Annual Report of Form 10-K
filed with the Securities and Exchange Commission on March 14,
2007. Ness is under no obligation to, and expressly disclaims any
obligation to, update or alter its forward-looking statements,
whether as a result of such changes, new information, subsequent
events or otherwise. Ness Technologies media contact: David Kanaan
USA: 1-888-244-4919 Intl: +972-3-540-8188 Email: Ness Technologies
investor contact: Drew Wright USA: 1-201-488-3262 Email:
DATASOURCE: Ness Technologies Inc CONTACT: Ness Technologies media
contact: David Kanaan, USA: +1-888-244-4919, Intl: +972-3-540-8188,
Email: ; Ness Technologies investor contact: Drew Wright, USA:
+1-201-488-3262, Email:
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