Key Developments For BLUFENIKS PITRONOT BE`AM
BLUFENIKS PITRONOT BE`AM (BPHX.O) (Consolidated Issue listed on NASDAQ Global Market)
BluePhoenix Solutions, Ltd. Announces Award Of $1.2 Million Contract From Business Process and Information Technology Services Partner
BluePhoenix Solutions, Ltd. announced that it has been awarded a $1.2 million modernization contract from a leading business process and information technology services partner. The contract is the third contract from this partner over the last year. Under the agreement BluePhoenix will modernize a Cobol application that is used by city agencies in the USA to a UNIX platform and will modernize the Adabas legacy database to an Oracle database. The two main reasons for this modernization are to reduce costs of maintaining the legacy application and create greater platform flexibility that will allow increased market potential.
BluePhoenix Solutions, Ltd. Announces Award Of Multi-Million Dollar Contract By IBM To Modernize Mission Critical Systems Of Global Tier 1 Retail Chain
BluePhoenix Solutions, Ltd. announced that it has been awarded a multi-million dollar modernization contract for a global Tier 1 retail chain by IBM. The Company is partnering with IBM to integrate, synchronize, convert, and remediate the customer`s disparate legacy purchase order systems, including associated applications and technologies. The Company will modernize the databases from legacy IMS and VSAM systems to an IBM DB2 environment providing the customer with improved productivity with a lower cost of ownership.
BluePhoenix Solutions, Ltd. Issues Q4 2009 Guidance; Revenue Guidance Slightly Below Analysts' Estimates; Issues FY 2010 Guidance In Line With Analysts' Estimates-Conference Call
BluePhoenix Solutions, Ltd. announced that for fourth quarter of 2009, it expects revenues to be between $19-$20 million with a non-GAAP earnings per share (EPS) between $0.03 to $0.09. For fiscal 2010, it expects revenue guidance between $83-$87 million and a non-GAAP EPS between $0.28-$0.30. According to Reuters Estimates, analysts are expecting the Company to report revenue of $21 million and EPS of $0.09 for fourth quarter of 2009; revenues of $83 million and EPS of $0.29 for fiscal 2010.
BluePhoenix Solutions, Ltd. Signs Purchase Agreement To Acquire Certain Assets Of DSKnowledge Ltd
BluePhoenix Solutions, Ltd. announced that it signed a purchase agreement to acquire certain assets of DSKnowledge Ltd, a knowledge management software company and affiliates (Business). Under the terms of the agreement, BluePhoenix will acquire the Business for approximately $3.7 million of which BluePhoenix may, at its sole discretion, pay approximately $1.8 million in BluePhoenix shares and will assume liabilities of approximately $1.2 million. In addition, BluePhoenix may pay additional consideration based upon the future performance of the Business. The transaction is anticipated to close toward the end of 2009.
BluePhoenix Solutions, Ltd. Raises $4.2 Million In Private Placement of Ordinary Shares And Warrants
BluePhoenix Solutions, Ltd. announced that it has entered into a Securities Purchase Agreement with certain institutional investors for the sale of approximately $4.2 million of its ordinary shares at a purchase price of $3.05 per share. Pursuant to the Securities Purchase Agreement, the investors also received 818,744 Series A warrants, 1,364,575 Series B warrants and 818,744 Series C warrants, each exercisable for the purchase of the Company's ordinary shares. The Series A warrants are exercisable immediately at an exercise price of $3.95 and have a five-year term. The Series B warrants are exercisable immediately at an exercise price of $3.05 and a term expiring upon the earlier of (a) four and one-half months from the effective date of the registration statement with respect to the Series B warrants and (b) four and one-half months from the date on which each of the ordinary shares, Warrants and shares underlying the Warrants sold pursuant to the Securities Purchase Agreement (the Securities) may be sold by non-affiliates of the Company. The Series C warrants are exercisable immediately upon the exercise of the Series B warrants at an exercise price of $3.95, and will expire upon the earlier of (a) five years and four and one-half months from the effective date of the registration statement with respect to the Series C warrants and (b) five years and four and one-half months from the date on which all of the Securities may be sold by non-affiliates of the Company.
