MIGR - MigraTEC Inc. Retains Stern & Co. as Investor, Media Relations Counsel
Business Editors
DALLAS--(BUSINESS WIRE)--May 24, 2001--MigraTEC (OTC Bulletin
Board: MIGR) said today that it has retained Stern & Co. to increase
capital market awareness of the company as the leading developer and
provider of application migration software and solutions. MigraTEC's
proprietary tool set automates the otherwise labor-intensive and
costly line-by-line programming task of migrating 32-bit applications
to Intel's powerful 64-bit Itanium(TM) platform.
"We have created a series of products that enable hardware
manufacturers, software developers and users worldwide to readily
adapt their existing applications to Intel's new 64-bit platform and
take advantage of the enormous promise it holds," said Ulrich
Brechbuhl, president and CFO of MigraTEC.
The Aberdeen Group, a leading technology analysis firm, estimates
that platforms based on Itanium family processors will capture nearly
50 percent of server revenues by 2005.
"We believe the introduction of this technology will create a
potential multibillion-dollar market for software migration products
and services over the next five years," Mr. Brechbuhl said.
"As we move forward in offering these new solutions, we realize
the importance of actively communicating our business strategy and
prospects to the media and financial community," he added. "As
seasoned professionals in financial communications, the Stern & Co.
team will help promote increased recognition of MigraTEC in the
business and investment community."
Richard L. Stern, president of Stern & Co., said: "We are
delighted to have been selected to work with MigraTEC to help the
company achieve the capital market recognition that it deserves.
Helping build awareness of its leading edge migration technology and
market leadership position is the kind of media relations and investor
relations program in which we excel."
MigraTEC is the first company to develop an automated solution to
the problem of migrating application software from one platform or
operating system to another. MigraTEC's technology supports Windows
NT, UNIX and Linux-based 32-to 64-bit migrations as well as
cross-platform migrations to advanced operating systems. MigraTEC's
MigrationSUITE(TM) software facilitates the migration and upgrading of
C/C++ based application software from 32-bit to 64-bit architectures
and between different operating platforms.
The company's new 64Express(TM) product line is designed to
capitalize on the release of Intel's 64-bit Itanium processor, its
long-anticipated entry into the world of high-end servers and
workstations. Since most business applications aren't readily
adaptable to the new processor, the much-anticipated rollout of the
Itanium platform is expected to dramatically increase demand for
MigraTEC's products. To jump-start its activities in this emerging
market, the company has entered into strategic partnerships with
Intel, Compaq, Dell, and IBM to assist in the development and
marketing of its products.
Migration software such as MigraTEC's permits companies that are
deploying new technologies to modify existing mission-critical
applications rather than go through the major expense and delay
associated with the rewriting of these programs. Due to dramatically
reduced labor, shortened cycle times and improved quality, a
programmer using MigraTEC tools can migrate up to 25,000 lines of code
per day - well over 10 times the manual rate, saving customers
significant time and money.
About Stern & Co.
Stern & Co., founded in 1993, is a New York-based full-service
communications firm that designs and implements investor relations and
media communications campaigns for publicly traded companies, private
companies and financial institutions. The firm's West coast office is
located in Los Angeles.
Richard L. Stern, founder and principal, was previously a senior
editor at Forbes magazine where he won the coveted Loeb award.
Co-founder Stephanie Stern was an Emmy award-winning producer at NBC
TV News.
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CONTACT: MigraTEC, Dallas
Simon Mak, 972/969-0375
- or -
Stern & Co., New York
Alex Singal, 212/888-0044 |
