Solution to Provide a Scalable Data Platform Across the Enterprise for Group Companies
Hackensack, NJ and Baarn, The Netherlands – September 3, 2008 – Ness Technologies, Inc. (NASDAQ: NSTC), a global provider of information technology services and solutions, today announced that KBC Group NV, an international financial group with headquarters in Brussels, has selected the Ness Financial Data Enterprise™ solution as its consolidated data management platform in a large multi-year agreement.
Through a combination of Ness’ proprietary software and services, Ness Technologies will provide KBC Group with an end-to-end data management solution ensuring that the data-driving processes such as performance attributions, risk analysis, pricing, research, fund accounting and customer servicing is clean, complete and consistent across KBC group companies.
“We are always looking for ways to serve our customers better and we chose to work with Ness because their offering is robust, comprehensive, and has a proven track record,” said Eli De Mil, General Manager ICT, and Geert Fransen, Procurement Officer Market Data Services, KBC Group added, “The Ness solution will bring tremendous benefits – allowing us to work more effectively within a multi-source environment to better manage reference data. We see this as a scalable platform that can grow along with our future needs and dovetail with plans to centralize data across group companies.”
Sudhakar Kondisetty, Chief Business Officer of Ness’ Financial Services vertical said, “We are delighted that KBC has chosen Ness as its data management partner for the future. After years of working with capital markets and retail banking clients on system integration and application development, we’ve turned our insight on business process and the intricacies of data management into a solution that consolidates data sources and improves data quality and dynamic intelligence for end users. We look forward to helping KBC Group companies around the world optimize data quality for the benefit of their customers.”
“KBC Group is a valued client, and we are very pleased to expand our existing relationship with such a prestigious firm,” said Sachi Gerlitz, Ness President and CEO. “This contract exemplifies our growing strength in Europe, where the demand for our unique services and products just continues to increase. We remain committed to further penetrating this important market, with a particular focus on the financial services, utilities and public sector verticals.”
The Ness Technologies Financial Services vertical offers specialized and proprietary solutions for institutions focused on Banking, Capital Markets, and Investment Management. Proprietary software includes the Ness Financial Data Enterprise solution, which automates the acquisition, management and distribution of reference data and accelerates provisioning of higher quality and dynamic intelligence to end users. Ness provides consulting, system integration, core systems, data management and knowledge process operations outsourcing services with onsite and local presence in North America, Europe, Israel and Asia Pacific – complemented by Global Delivery Model capabilities via centers across India and Eastern Europe. Clients include Credit Suisse, Deutsche Bank, Erste Bank, Franklin Templeton, Invesco, Standard & Poor’s, UBS and others.
Ness Financial Data Enterprise is a cost-effective and flexible solution that allows financial institutions to take control of their enterprise data by automating end-to-end acquisition, management and distribution of reference data. Ness’ data management platform acts as a transformation and enrichment hub consolidating disparate data sources through an intelligent and dynamic metadata layer in order to deliver higher value data to end users, systems and value-chain participants.
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 www.ness.com
About KBC Group
KBC’s headquarters are located in Brussels (Belgium), the heart of Europe. The KBC group is present in more than 30 countries worldwide, employs 57,000 staff (nearly 32,000 of whom in Central and Eastern Europe) and caters to 12 million customers (some 8 million in Central and Eastern Europe). KBC Group NV is listed on EURONEXT Brussels and the Luxembourg Stock Exchange (ticker symbol ‘KBC’).
KBC is a multi-channel bancassurer with a geographic focus on Europe, catering mainly for retail and private banking customers and small and medium-sized enterprises. Besides focusing on providing retail and private bancassurance services (via bank branches, insurance agents/brokers and the Internet), KBC is active in asset management and in the field of corporate banking, leasing, factoring, re-insurance, insurance, brokerage, private equity, project and trade finance in Belgium, Central and Eastern Europe and elsewhere (mainly in Europe). It also has an extensive private banking network in eight Western European countries. Moreover, KBC is active in the European debt capital markets, has a solid position in the domestic cash equity markets and is a prominent niche player in a number of global derivatives markets. For more information about KBC Group visit www.kbc.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 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 contacts:
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