Ness Technologies Acquires Czech IT Services Provider Logos

PRAGUE, July 31 /PRNewswire-FirstCall/ -- Ness Technologies, Inc.
(NASDAQ: NSTC), a global provider of IT services and solutions, today
announced that it has signed a share purchase agreement to acquire 100% of
the shares of Logos a.s., a privately-held, Czech-based leading IT services
and consulting company. For the fiscal year ended March 31, 2008, Logos
generated revenues of EUR29.7 million and was profitable. Logos has
approximately 570 employees.
Logos has been one of the fastest growing IT services and solutions
providers in the Czech Republic. With a strong presence in the Czech
financial and telecom sectors, Logos provides a variety of IT services
including consulting, custom software development, testing and quality
assurance, information systems analysis, outsourcing and staffing. Upon
completion of the acquisition, Logos will be merged into Ness Czech.
"The acquisition of Logos strengthens our already significant leadership
position in Central and Eastern Europe, one of our fastest growing and most
profitable geographies," said Sachi Gerlitz, president and CEO of Ness
Technologies. "Coupled with our very strong organic growth in the region,
this deal positions us for greater penetration of this strategic market."
Logos complements the Ness service portfolio, with little overlap in
services and customers. Ness Czech's strong position in the utilities,
manufacturing and public sectors will be complemented by Logos' strong
presence in the financial and telecom industries. On the technology side, the
combined company will offer deep expertise and experienced teams in leading
technologies, including Microsoft, SAP, Oracle, Documentum and IBM. By
combining offerings, the merged Ness Czech will be able to provide its
clients with an even broader range of services - within the Czech IT services
market itself as well as across the Central and Eastern European IT services
market. Logos' clients will also benefit from Ness' near-shore and offshore
capabilities, including its software product development center in Kosice,
Slovakia.
"We are delighted to join Ness Technologies and to become the major
leader in the Czech IT services market," said Pavel Stovicek, chairman of the
board of directors of Logos. "Together, we will continue in an approach based
on very deep understanding of customers' needs. Our highly skilled team of
consulting and IT professionals will join Ness Czech specialists, creating
large multi-disciplinary teams that will provide best-of-breed services based
on our combined experience in business and technology."
"We are pleased by the planned merger," said Mr. Vaclav Grepl, CIO of
Komercni Banka, a member of Societe Generale Group. "We work successfully
with both Ness Czech and Logos today as major vendors for application
development, and we believe that we will benefit from the acquisition in
several ways: through a broader technology portfolio, increased flexibility,
the ability to handle larger engagements and also in more strategic
positioning within our organization."
Logos' customer list includes prominent companies and organizations such
as: Komercni Banka (a member of Societe Generale Group), GE Money,
Raiffeiensen Bank, Ceska Sporitelna (a member of Erste Bank), CSOB (a member
of the KBC Group), Telefonica 02, T-Mobile, DHL, Skoda Auto (part of the
Volkswagen Group) and many others.
The acquisition, which is subject to customary closing conditions, is
expected to close early in the fourth quarter of 2008. The acquisition is
also subject to approval by the Czech Office for the Protection of
Competition.
About Ness Technologies
Ness Technologies (NASDAQ: NSTC) is a global provider of end-to-end IT
services and solutions designed to help clients improve competitiveness and
efficiency. The Ness portfolio of solutions and services consists of software
product development, including both offshore and near-shore outsourcing;
system integration, application development and consulting; and software
distribution. With over 7,800 employees, Ness maintains operations in 18
countries, and partners with numerous software and hardware vendors
worldwide. For more information about Ness Technologies, visit
http://www.ness.com.
NESS Czech s.r.o., the Czech subsidiary of Ness Technologies, was
established in 1990 as a Czech private company named APP and was acquired by
Ness Technologies in 2002. Since its inception, Ness Czech has been a pioneer
in introducing new technologies and software products to the Czech market,
and today it is one of the largest providers of IT services in the Czech
Republic. Currently, Ness Czech employs more than 400 people.
About Logos
Logos is a leading Czech provider of consulting and technology services.
Through its innovative approach, Logos creates new opportunities for its
customers and provides complex solutions specifically for the financial and
telecommunications sectors. The company was founded in 1994 and currently
employs more than 500 IT professionals. Logos has been named to Deloitte Fast
50 list of the fastest growing IT companies for seven consecutive years, was
awarded the Progressive Employer award for 2006 and 2007 and was ranked as
the Best Employer for 2008. For more information about Logos, visit
http://www.logos.cz.
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 include the "Risk
Factors" described in Ness' Annual Report of Form 10-K filed with the
Securities and Exchange Commission on March 17, 2008. Ness is under no
obligation to, 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.
Ness Technologies media contact:
David Kanaan
USA: +1-888-244-4919
Intl: +972-3-540-8188
Email: media.int@ness.com

Ness Technologies investor contact:
Drew Wright
USA: +1-201-488-3262
Email: investor@ness.com

SOURCE Ness Technologies Inc

Ness Technologies media contact: David Kanaan, USA: +1-888-244-4919, Intl:
+972-3-540-8188, Email: media.int@ness.com; Ness Technologies investor
contact: Drew Wright, USA: +1-201-488-3262, Email: investor@ness.com