Ness sells document mg't system to Czech bank

The customer, Raiffeisenbank, is the country's fifth largest bank.

IT integrator Ness Technologies Ltd. (Nasdaq: NSTC; TASE: NSTC) has signed a new multi-million dollar contract to provide Czech bank Raiffeisenbank a.s. with a document management system, which will run on the Documentum platform. Raiffeisenbank a.s., the fifth largest bank in the Czech Republic, is a subsidiary of Austria's Raiffeisen International Bank Holding AG (ATX: RIBH).

Ness said that the new cooperation is part of a long-term strategic partnership with Raiffeisenbank, a strategic partner of the company for business intelligence systems for over five years. In November 2009, the bank extended the contract for business intelligence services for more than $6 million annually.

Ness will provide Raiffeisenbank with a document management system based on the EMC xCelerated Composition Platform (xCP).

Ness' share closed at $6 on Nasdaq yesterday, giving a market cap of $230 million. The share price rose 3.3% in morning trading on the TASE today to NIS 23.44.

Published by Globes [online], Israel business news - - on March 10, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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