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Technology Stocks : Sapiens International Corporation (SPNSF): Turn around...?
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To: Walk Softly who wrote (1546)4/23/1998 5:33:00 PM
From: Tumbleweed  Read Replies (1) of 1936
 
Sapiens Awarded Year 2000 Project by a Leading Israeli Bank

RESEARCH TRIANGLE PARK, N.C., April 23 /PRNewswire/ -- Bank Leumi Le-Israel, one of Israel's largest banks, has awarded Sapiens (Nasdaq: SPNSF - news) a strategic year 2000 project. This project is an extension of the longstanding relationship between Sapiens and Bank Leumi. Terms of the agreement were not disclosed.

Sapiens will provide the solutions and services to ensure that the bank's human resources and logistics systems will be compliant for the new millennium. The human resources system, which maintains all data for the bank's 10,000 employees, contains numerous programs written in COBOL, PL/1, and Assembler. The bank's logistics system maintains the inventory of the bank's equipment and records of all relevant acquisitions, budgets and payments. The project will be performed both at the customer site and at Sapiens' International Services and Solutions center.

''Sapiens customers worldwide rely on us to implement projects affecting their mission-critical systems and we are committed to the rapid time-to-market competitive edge that we offer Sapiens' customers,'' said Mr. Moti Weiss, Chief Operating Officer of Sapiens International. ''It is clear that the market trend is that customers prefer comprehensive solutions and outsourcing instead of purchasing a tool, which requires resources and staff training,'' he added.
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