TEANECK, New Jersey,
September 12, 2011 /PRNewswire/
--
Ness Technologies, Inc. (NASDAQ: NSTC and TASE:
NSTC), a global provider of IT services and
solutions, and Menora Mivtachim Group, one of Israel's leading insurance groups, announced
today a multi-million dollar SAP ERP implementation and maintenance
contract. The contract includes the implementation of a
company-wide, SAP-based, enterprise resource planning (ERP) system
at Menora Mivtachim Group with maintenance, support and development
services for five years.
The new ERP system comprises financial, logistics, human
resources and profit analysis modules, as well as other
insurance-related modules. The new system will upgrade various
financial and procurement processes, improve the company's
efficiency, including human capital issues among others, and help
Menora Mivtachim provide its customers with the highest level of
service.
"The new ERP system will serve most of the companies of Menora
Mivtachim Group, enabling optimal control over Menora Mivtachim's
resources and business activity while satisfying relevant
regulatory directives," said Moti
Rosen, Chief Executive Officer of Menora Mivtachim. "We
selected Ness Technologies due to its proven experience, knowledge
and capabilities in large and complex ERP projects, as well as its
unique knowledge of the Israeli insurance market's needs."
"This contract reflects our excellent reputation as a market
leader in implementing innovative and sophisticated solutions in
the insurance industry - and ERP systems in particular - combined
with integration, testing and implementation capabilities; as does
the recent successful launch of an ERP system we implemented for a
large Israeli insurance company," said Effi
Kotek, President of Ness Israel. "We will harness the
expertise and experience gained by Ness globally to ensure that
Menora Mivtachim will receive the highest quality system and the
best customer service."
About Ness Technologies
Ness Technologies (NASDAQ: NSTC and TASE: NSTC) is a global
provider of IT and business services and solutions with specialized
expertise in software product engineering; and system integration,
application development, consulting and software distribution. Ness
delivers its portfolio of solutions and services using a global
delivery model combining offshore, near-shore and local teams. With
about 7,000 employees, Ness has operations in North America, Europe, Israel and India, has customers in over 20 countries, and
partners with numerous software and hardware vendors worldwide. For
more information about Ness, visit http://www.ness.com.
About Menora Mivtachim Group
Menora Mivtachim Group specializes in the management of
insurance, pension and finance businesses. The group manages assets
worth about NIS 85 billion. Menora
Mivtachim offers solutions in the fields of life insurance, health
insurance, general insurance, new pension funds, provident funds,
investment portfolios management, mutual funds management and
advanced financial products. Menora Mivtachim Holdings holds all
ownership of Israel's largest
pension fund, the new Mivtachim, which manages assets of more than
NIS 35 billion. During its years of
operation, since 1935, Menora Mivtachim has established itself as a
reliable, stable and creative company, providing its customers with
a professional, reliable and efficient service and among the
highest yields in the insurance industry and long term savings
market, over many years. For more information about Menora
Mivtachim, visit http://www.menoramivt.co.il.
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 are included under the heading "Risk Factors" in Ness'
filings with the Securities and Exchange Commission. Ness is under
no obligation, 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.
Media Contact:
For Ness Technologies
David Kanaan
Intl: +972-54-425-5307
Email: media.int@ness.com
For Menora Mivtachim:
Ronen Idel
+972-54-3006044
Email: ronen@besta.co.il
Investor Relations Contact:
Drew Wright
USA: +1-201-488-3262
Email: investor@ness.com
Maya Lustig
Israel: +972-3-767-5110
Email: maya.lustig@ness.com
SOURCE Ness Technologies Inc