Recent IPO Evolve (EVLV) running today (+20%). News out:
(REUTERS) RESEARCH ALERT-McData/ScreamingMedia/Evolve start
NEW YORK, Sept 5 (Reuters) - Deutsche Banc Alex. Brown on Monday said it started McData Corp. <MCDT.O>, ScreamingMedia Inc. <SCRM.O> and Evolve Software Inc. <EVLV.O> as buys.
-- firm initiated McData with a six to 12-month price
target of $120 and ScreamingMedia with a 12-month price target
of $23.
-- McData shares closed on Friday at $107-2/16, Screaming
Media shares closed at $12-2/16, and Evolve closed at $23-4/16,
all on Nasdaq.
((New York newsroom, 212 859 1700))
REUTERS
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(BSNS WIRE) Evolve Wins 10 New Professional Services Companies and Secures Two Follow-On
Orders From Existing Customers
Business Editors and Technology Writers
EMERYVILLE, Calif.--(BUSINESS WIRE)--Sept. 5, 2000--
New Customers Join Growing Portfolio and Extends Evolve's
Professional Services Automation Lead in IT Services
Evolve(R) (Nasdaq:EVLV), a leading provider of 100 percent
Internet end-to-end solutions for automating professional services
organizations, today announced 10 new customers including: Akili,
Benchmarking Partners, BSI Consulting, Extreme Logic, Fort Point
Partners, LavaStorm, Luminant Worldwide Corporation, MimEcom, Syncata
and Zeneb.
Evolve also secured two follow-on orders from live customers
further signaling the efficiency of Evolve's professional services
automation (PSA) solution for professional services firms. The new
additions join more than 50 other leading e-business, IT and
professional services providers that have selected Evolve's
ServiceSphere(R) ePlatform, deployable in self-hosted and ASP models,
to increase the effectiveness of their core business operations.
Rare Medium Group, Inc. (Nasdaq:RRRR), a provider of Internet
professional services and a strategic investor and incubator of
Internet-focused companies, purchased Evolve's solution in the first
quarter of this year and returned to purchase additional Evolve
ServiceSphere modules to support the company's continued growth.
"We selected Evolve because it was the best possible PSA solution
we evaluated," said Steve Birgfeld, chief administrative officer for
Rare Medium. "We're pleased with its robust infrastructure,
performance and functionality. This solution is an integral tool for
our company as we continue to achieve maximum operational efficiency
and resource utilization."
Evolve President and Chief Executive Officer John Bantleman
commented, "When you look under the hood of some of the fastest
moving, most technology savvy professional services firms, you find
that Evolve is the engine providing the power to drive the core
value-generating business processes. We believe that the quality of
our customer roster distinguishes us from other PSA vendors, and we
look forward to providing our new customers with the same powerful
means for creating more efficient business interactions."
Extreme Logic is a new Evolve customer that Microsoft recently
selected as its Partner of the Year for North America. As such, they
represent what Microsoft deems as this continent's premier eBusiness
solution provider in terms of technical expertise, strategic thinking
and hands-on skills.
Extreme Logic CFO Gerald Wicker commented, "The purchase of a PSA
solution was a critical decision for Extreme Logic, due to the
Company's tremendous growth and geographic expansion. Based on our
extensive evaluation of professional service software, Evolve was the
best total solution for our business model."
The new customers will implement Evolve ServiceSphere to monitor
and manage the core operations of their entire organization from a
single, unified ePlatform. ServiceSphere will enable them to more
quickly and easily implement projects, access up-to-the-minute
information, and manage operations, personnel and resources.
New professional services firms that have selected Evolve include:
-0-
*T
Akili Systems -- a rapidly growing Internet integrator that provides
scalable, enterprise-extending solutions for fast growth business
innovators;
Benchmarking Partners Inc. -- the first and foremost e-business
strategy firm dedicated to accelerating how companies transform
themselves for the net economy;
BSI Consulting -- named one of the fastest-growing companies in
the country, BSI helps companies build and extend their business on
the Web;
Extreme Logic -- builds and delivers innovative e-business
solutions, focusing on technology strategy, business process design,
application development and technical architecture; practice areas
include business-to-business (B2B), business-to-consumer (B2C),
workflow and collaboration, and knowledge management;
Fort Point Partners -- is an Internet services firm that uses
their proprietary eSelling(TM) approach-strategy, end-to-end systems
development and program management to help their clients increase
revenues across all channels;
LavaStorm -- the Internet systems engineering company focused on
delivering technologically advanced solutions that solve complex
problems;
Luminant Worldwide Corporation -- one of the world's largest and
most experienced eServices firms, helps clients capitalize on their
eBusiness investments by leveraging innovative, rapidly delivered
eBusiness concepts;
MimEcom -- provides e-commerce Application & Infrastructure
Management (AIM) services for Global 2000 companies and fast growing
Internet-centric companies;
Syncata -- a premier eBusiness solutions company providing
integrated, reliable business-to-business services that enable
customers to respond rapidly to the changing economy; and
Zeneb -- a leading end-to-end eBusiness Solutions Provider that
helps clients build scalable frameworks and deploy adaptive business
models using top-tier packaged eCommerce applications that create a
winning combination in this Internet economy.
*T
About Evolve
Evolve (Nasdaq:EVLV) provides Internet-based end-to-end solutions
for automating professional services organizations. Our ServiceSphere
software suite integrates and streamlines the core processes that are
critical to professional services organizations: managing project
opportunities, professional resources and service delivery. Evolve's
Services.com(TM) online applications portal enables smaller
professional services providers to rapidly and cost-effectively access
the benefits of Evolve's technology to manage their businesses.
Evolve's solution combines the efficiency gains of automating business
processes with the benefits of online inter-company collaboration,
creating an ePlatform for Connecting the Service Chain(TM) in the
professional services industry. Customers include Broadbase, Cambridge
Technology Partners, eGain, Ericsson, Exodus, iPlanet, Lante,
marchFIRST, Novell, Personify, Rare Medium, Razorfish, Scient, Xpedior
and Zefer. Evolve is headquartered in Emeryville, Calif. (San
Francisco Bay area) with offices in Atlanta, Boston, Chicago, Dallas,
Los Angeles, New York, Silicon Valley, the United Kingdom and
Washington, D.C. Additional information can be found at www.evolve.com
or 888/2EVOLVE.
Safe Harbor Statement
This news release contains forward-looking statements, including
but not limited to statements regarding Evolve's current and new
customers, the success of the Company's products in meeting its
customer needs, and the implementation of the Company's products at
its new customers. Actual results could differ and such differences
could be material. These statements involve risks and uncertainties,
including without limitation, the fact that the Company may not
successfully implement its products at its new customers, customers
may not achieve the benefits anticipated from such products, and
customers may not increase their use of the Company's products and
order new products. The Company undertakes no obligation to update
publicly any forward-looking statements to reflect new information,
events or circumstances after the date of this release. Investors are
encouraged to review the Company's filings with the Securities and
Exchange Commission for a discussion of additional factors that could
affect Evolve's future performance.
Evolve, the Evolve logo, ServiceSphere, Services.com, "Connecting
the Service Chain," and "Evolve. Connect. Thrive." are registered
trademarks or trademarks of Evolve Software, Inc.
--30--brm/se*
CONTACT: Evolve
Shannon Hart, 510/428-6262
shart@evolve.com
or
hypelab
Cynthia Randall, 415/977-1344
cynthia@hypelab.com
KEYWORD: afxeu CALIFORNIA
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS E-COMMERCE INTERNET
NETWORKING SOFTWARE PRODUCT
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