Another contract announcement:
Sapiens Awarded $4.5 Million Year 2000 Testing Project
PR Newswire - June 10, 1998 09:40
SPNSF %CPR V%PRN P%PRN
RESEARCH TRIANGLE PARK, N.C., June 10 /PRNewswire/ -- Sapiens International Corporation N.V. (Nasdaq: SPNSF)
today announced that a leading European company has awarded Sapiens a year 2000 testing project valued at approximately
$4.5 million. Sapiens will perform comprehensive testing of the customer's entire application portfolio using its Validation 2000 test
kit and proven methodology. The project is scheduled to be completed by mid- 1999.
Commenting on the deal, Mr. Moti Weiss, Chief Operating Officer of Sapiens, noted: "We are particularly pleased by our
customer's vote of confidence in our testing solution. This deal represents our initial success in penetrating the year 2000 testing
market, which analysts estimate will amount to 40-50% of worldwide year 2000 costs."
About Sapiens
Sapiens is a leading provider of enterprise-wide solutions for the rapid development of scalable, mission-critical software
applications. The Company provides comprehensive software solutions that substantially improve software developer productivity,
reduce the cost of building and maintaining software applications, and preserve investment in legacy systems. These solutions
integrate the Company's core rules-based, object-oriented technology, efficient rapid application development (RAD)
methodology, and comprehensive consulting expertise. The Company's solutions also are targeted at specialized software
redevelopment problems, such as those related to the year 2000 and the adoption of a single European currency.
The Company provides solutions to organizations in a broad range of industries worldwide. The Company markets through its
direct sales force, distributors, value-added resellers and system integrators. Representative customers of Sapiens include
AGF/SI, General Accident Insurance Group, Guardian Royal Exchange, IBM, International Paper, Principal Financial, and
Siemens Energy & Automation. Information about Sapiens and its products is available on the World Wide Web at
sapiens.com.
Except for historical information contained herein, the matters set forth in this release are forward-looking statements that are
dependent on certain risks and uncertainties, including such factors, among others, as market acceptance, market demand, pricing,
changing regulatory environment, changing economic conditions, risks in new product and service development, the effect of the
company's accounting policies and other risk factors detailed in the Company's SEC filings.
SOURCE Sapiens International Corporation N.V.
/CONTACT: Lauri Hanover, Chief Financial Officer of Sapiens
International, +972-8-938-2701 or lauri.h@sapiens.com; or John W. Heilshorn,
Jr. of Lippert-Heilshorn & Associates Inc., 212-838-3777 or john@lhai.com, for
Sapiens/
/Web site: sapiens.com
(SPNSF) |
