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Ness Technologies Wins $5 Million Contract Extension with Derech Eretz, Operator of Trans-Israel Toll Road
HACKENSACK, New Jersey, March 21, 2011/PRNewswire-FirstCall/ -- Ness Technologies, Inc. (NASDAQ: NSTC and TASE: NSTC), a global provider
of IT services and solutions, announced today a four-year, NIS 18 million, or
approximately $4.9 million, maintenance and development contract extension
with Drench Eretz Highways Management Corporation and HaCarmel Lanes. Derech
Eretz operates the Trans-Israel Highway, a 140 km toll road known also as
Highway 6. HaCarmel Lanes operates the Carmel toll road tunnels in the city
of Haifa.
Under the terms of the contract, Ness will upgrade and maintain the
Revenue Management System (RMS), a toll road billing and CRM system
implemented on the two toll roads. RMS, which is connected to a License Plate
Recognition (LPR) system, manages the entire billing and customer
relationship management processes of toll roads. The system handles trip
information on any car that uses the toll road, calculates the fee according
to various rates, generates invoices, and manages the collection process. The
billing component of RMS was developed by Ness.
Ness will provide ongoing maintenance services to ensure sussessful 24/7
operation of the critical billing and CRM system. In addition, Ness will
adapt the system to new regulations and conduct ongoing technological
upgrades, as well as new development according to the clients' needs and
requirements.
"We have been working with Ness Technologies for the last ten years and
are satisfied with their professional and responsive service," said Miri
Dvash-Hermoni, Derech Eretz's CIO. "Trans-Israel Highway serves approximately
150,000 vehicles a day. The integration RMS with an LPR system allows
uninterrupted trips with no barriers at the entrances and exits."
"The decision of Derech Eretz and HaCarmel Lanes to extend its strategic
contract with Ness is a tribute to our expertise and to our commitment in
maintaining the system in the highest quality manner," said Effi Kotek,
president of Ness Israel. "The sophisticated system that we developed for
toll roads is considered one of the most advanced worldwide, and can be
easily adapted to any language, law and regulation."
About Ness Technologies
Ness Technologies (NASDAQ: NSTC and TASE: NSTC) is a global provider of
IT and business services and solutions with specialized expertise in software
product engineering; and system integration, application development,
consulting and software distribution. Ness delivers its portfolio of
solutions and services using a global delivery model combining offshore,
near-shore and local teams. With about 7,700 employees, Ness has operations
in North America, Europe, Israel and India, has customers in over 20
countries, and partners with numerous software and hardware vendors
worldwide. For more information about Ness, visit http://www.ness.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 on Form 10-K filed with the
Securities and Exchange Commission on March 4, 2011. Ness is under no
obligation, 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.
Media Contact:
David Kanaan
Intl: +972-54-425-5307
Email: media.int@ness.com
Investor Relations Contacts:
Drew Wright
USA: +1-201-488-3262
Email: investor@ness.com
Maya Lustig
Israel: +972-3-767-5110
Email: maya.lustig@ness.com
Source: Ness Technologies Inc
Media Contact: David Kanaan, Intl: +972-54-425-5307, Email: media.int@ness.com; Investor Relations Contacts: Drew Wright, USA: +1-201-488-3262, Email: investor@ness.com; Maya Lustig, Israel: +972-3-767-5110, Email: maya.lustig@ness.com
Ness Technologies Wins $5 Million Contract Extension with Derech Eretz, Operator of Trans-Israel Toll Road
HACKENSACK, New Jersey, March 21, 2011/PRNewswire-FirstCall/ -- Ness Technologies, Inc. (NASDAQ: NSTC and TASE: NSTC), a global provider
of IT services and solutions, announced today a four-year, NIS 18 million, or
approximately $4.9 million, maintenance and development contract extension
with Drench Eretz Highways Management Corporation and HaCarmel Lanes. Derech
Eretz operates the Trans-Israel Highway, a 140 km toll road known also as
Highway 6. HaCarmel Lanes operates the Carmel toll road tunnels in the city
of Haifa.
Under the terms of the contract, Ness will upgrade and maintain the
Revenue Management System (RMS), a toll road billing and CRM system
implemented on the two toll roads. RMS, which is connected to a License Plate
Recognition (LPR) system, manages the entire billing and customer
relationship management processes of toll roads. The system handles trip
information on any car that uses the toll road, calculates the fee according
to various rates, generates invoices, and manages the collection process. The
billing component of RMS was developed by Ness.
Ness will provide ongoing maintenance services to ensure sussessful 24/7
operation of the critical billing and CRM system. In addition, Ness will
adapt the system to new regulations and conduct ongoing technological
upgrades, as well as new development according to the clients' needs and
requirements.
"We have been working with Ness Technologies for the last ten years and
are satisfied with their professional and responsive service," said Miri
Dvash-Hermoni, Derech Eretz's CIO. "Trans-Israel Highway serves approximately
150,000 vehicles a day. The integration RMS with an LPR system allows
uninterrupted trips with no barriers at the entrances and exits."
"The decision of Derech Eretz and HaCarmel Lanes to extend its strategic
contract with Ness is a tribute to our expertise and to our commitment in
maintaining the system in the highest quality manner," said Effi Kotek,
president of Ness Israel. "The sophisticated system that we developed for
toll roads is considered one of the most advanced worldwide, and can be
easily adapted to any language, law and regulation."
About Ness Technologies
Ness Technologies (NASDAQ: NSTC and TASE: NSTC) is a global provider of
IT and business services and solutions with specialized expertise in software
product engineering; and system integration, application development,
consulting and software distribution. Ness delivers its portfolio of
solutions and services using a global delivery model combining offshore,
near-shore and local teams. With about 7,700 employees, Ness has operations
in North America, Europe, Israel and India, has customers in over 20
countries, and partners with numerous software and hardware vendors
worldwide. For more information about Ness, visit http://www.ness.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 on Form 10-K filed with the
Securities and Exchange Commission on March 4, 2011. Ness is under no
obligation, 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.
Media Contact:
David Kanaan
Intl: +972-54-425-5307
Email: media.int@ness.com
Investor Relations Contacts:
Drew Wright
USA: +1-201-488-3262
Email: investor@ness.com
Maya Lustig
Israel: +972-3-767-5110
Email: maya.lustig@ness.com
Source: Ness Technologies Inc
Media Contact: David Kanaan, Intl: +972-54-425-5307, Email: media.int@ness.com; Investor Relations Contacts: Drew Wright, USA: +1-201-488-3262, Email: investor@ness.com; Maya Lustig, Israel: +972-3-767-5110, Email: maya.lustig@ness.com