Ness Expands its Unique Offshore Service Delivery Model Within Life
Sciences Industry
HACKENSACK, New Jersey, October 3 /PRNewswire-FirstCall/ -- Ness
Technologies, Inc. (NASDAQ: NSTC), a global provider of information
technology services and solutions, today announced that it has completed
the acquisition of MS9 Consulting LLC, a privately-held IT services company
based in the United States with a strong presence in the life sciences
industry. The purchase price was $11.4 million, with an additional amount
to be paid in the future based on the achievement of certain performance
goals over the next two years. For the full year 2006, MS9 generated
revenues of over $13 million and was profitable.
MS9 provides information technology, business advisory and management
consulting services to the life sciences industry, specifically to
healthcare companies. These services include change management, business
transformation, architecture, business process re-engineering, and
strategic technology services, among others. MS9's clients include Kaiser
Permanente, Novartis, Bayer and Lucille Packard, among others.
"The acquisition of MS9 Consulting is another milestone in the
strengthening of Ness' activities in the North American market," said Sachi
Gerlitz, president and CEO of Ness Technologies. "This acquisition expands
our service portfolio and strengthens our presence in the healthcare and
pharmaceutical markets, in which MS9 has built an excellent reputation.
This strategic acquisition will enhance our global delivery capabilities
and accelerate the expansion of our unique offshore service delivery model
within the life sciences vertical."
"We welcome MS9's talented and highly skilled professionals and expect
them to provide leadership and help build a strong presence for Ness in the
life sciences vertical," said Rajkumar Velagapudi, president of Ness
Innovative Business Services, who identified and facilitated the
acquisition.
"We are delighted to join Ness Technologies, an outstanding global
company that offers great opportunities for professional development and
growth," said Elaine Wischmann, co-founder and now executive vice president
of sales and marketing for MS9. "We look forward to leveraging the combined
experience of Ness and MS9 on a wide variety of business solutions and
offshore services."
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. Ness specializes in outsourcing and offshore, systems
integration and application development, software and consulting, and
quality assurance and training. With 7,500 employees, Ness maintains
operations in 17 countries, and partners with numerous software and
hardware vendors worldwide. For more information about Ness Technologies,
visit http://www.ness.com.
About MS9 Consulting
MS9 Consulting was founded in 2004 to help enterprises gain competitive
edge. MS9 provides state-of-the-art information technology solutions and
services that simplify organizational initiatives and complexities while
maximizing business productivity and drastically reducing total cost of
ownership in the healthcare vertical. For more information about MS9, visit
http://www.ms9consulting.com.
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 14, 2007. 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
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SOURCE Ness Technologies Inc
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CONTACT:
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
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