The company sees the partnership as a springboard to mainland China and the Asia-Pacific region.
IT legacy modernization solutions developer BluePhoenix Solutions Ltd. (Nasdaq: BPHX; TASE: BPHX) has established a partnership with ChannelMaker Technology Corporation to develop and market solutions in the Taiwanese market.
BluePhoenix noted that entering the the Taiwanese market is part of the company's strategy to expand into mainland China and in the Asia-Pacific region. The partnership with ChannelMaker will also add value to the company's legacy modernization products, especially in the area of financial services.
BluePhoenix CEO Arik Kilman said, "Our partnership with ChannelMaker provides us with a great opportunity to further extend our modernization reach to financial organizations in the Taiwanese market."
BluePhonex closed at $17.45 on Nasdaq yesterday, giving a market cap of $314 million. The share rose 0.4% at the opening on Nasdaq today and rose 1.5% on the TASE.
Published by Globes [online], Israel business news - www.globes-online.com - on December 11, 2007
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