BluePhoenix Solutions

BluePhoenix Solutions Ltd.
Type Public
Traded as NASDAQ: BPHX
TASE: BPHX
Industry Technology
Predecessor A. Crystal Solutions Ltd.(1987–1996)
Crystal Systems Solutions Ltd. (1996–2003)
Founder(s) Aaron Crystal
Headquarters Herzliya, Israel
Key people Shimon Bar-Kama, CEO
Services Business software
Revenue US$57.12 million (2010)
Operating income US$–37.53 million (2010)
Net income US$–38.15 million (2010)
Website www.bphx.com
References: [1]

BluePhoenix Solutions is a publicly traded company, headquartered in Israel, that develops and sells modernization solutions for legacy information technology (IT) systems. Its shares are traded on the NASDAQ Global Market exchange and on the Tel Aviv Stock Exchange.

Contents

Company

BluePhoenix Solutions specializes in the modernization of corporate legacy databases and applications. Some financial institutions, particularly banks and insurance firms, continue to rely on outdated databases, applications and programming languages. BluePhoenix develops and installs solutions for bringing these institutions' systems up to modern standards. In this regard, BluePhoenix competes with companies the likes of IBM, Accenture, EDS, and India-based TCS.[2]

History

BluePhoenix Solutions was founded by Aaron Crystal in 1987 under the name A. Crystal Solutions. Aaron Crystal served as the company's CEO until 1996, when its name was changed to Crystal Systems Solutions. In January 1997 shares of Crystal Systems began trading on what was then the NASDAQ National Market under the symbol CRYSF. Among the company's clients were Microsoft, Synopsys and Bank Leumi. In 2003 the name Crystal Systems was changed to BluePhoenix Solutions, subsequent to a merger of Crystal Systems with Liraz Systems, of which BluePhoenix was a subsidiary. BluePhoenix functioned as a subsidiary of Formula Systems until June 2007, when Formula sold its shares in the company to international institutional investors.[3][4][5][6][7][8]

Management

BluePhoenix appointed Yaron Tchwella CEO of the company in 2009 to replace Arik Kilman, who had served as the company's CEO since 2003. Kilman returned to the position of CEO in 2010, as Tchwella announced he was leaving for personal reasons. In 2011 Kilman announced his retirement and in November was replaced by Shimon Bar-Kama.[9][10][11]

Acquisitions

Company Year Price Reference
SDC-FinansSystem
2002
  
[12]
IntraComp
2003
  
[13]
CePost
2004
  
[14]
CodeStream Software (Xitec)
2006
  
[15]
ASNA
2007
  
[16]

See also

References

  1. ^ "BPHX Income Statement". Yahoo! Finance. 2011. http://finance.yahoo.com/q/is?s=BPHX+Income+Statement&annual. Retrieved 8 October 2011. 
  2. ^ Yom-Tov, Shirley (16 July 2007). "גם אחרי ריצה של 160%, בבלופניקס רואים את המניה ממשיכה לעלות [Even after a 160% run, at BluePhoenix there is conviction that the stock will continue to rise]" (in Hebrew). TheMarker. http://www.themarker.com/markets/1.450882. Retrieved 8 October 2011. "בלופניקס, עד לאחרונה בשליטת קבוצת פורמולה שבשליטת אמבלייז, עוסקת במודרניזציה של מערכות תוכנה ישנות באמצעות כלי תוכנה אוטומטיים." 
  3. ^ "Crystal Systems Solutions Ltd. Begins Trading on Nasdaq". Farlex. Herzliya: Thefreelibrary.com. 31 January 1997. http://www.thefreelibrary.com/Crystal+Systems+Solutions+Ltd.+Begins+Trading+on+Nasdaq-a019078148. Retrieved 8 October 2011. "Crystal Systems Solutions Ltd. (Nasdaq: CRYSF), a developer of conversion projects for mainframe computer systems, various programming language upgrades and data field conversions, today announced its initial public offering of 3 million Ordinary Shares of Common Stock at a price of $7.50 for an aggregate of $22.5 million." 
  4. ^ "קריסטל גייסה בניו-יורק 22 מיליון דולר לפי שווי חברה של 75 מ' ד' [Crystal raises 22 million dollars in New York per market cap of $75M]" (in Hebrew). Globes. 3 February 1997. http://www.globes.co.il/news/article.aspx?did=145637. Retrieved 8 October 2011. "קריסטל השלימה ביום חמישי גיוס של מיליון דולר תמורת 3.15 מיליון מניות." 
  5. ^ Ankori, Meirav (14 November 2001). "קריסטל פתרונות: שיפור בתוצאות לעומת הרבעון הקודם" (in Hebrew). Bizportal. http://www.bizportal.co.il/shukhahon/biznews02.shtml?mid=16748. Retrieved 8 October 2011. "על לקוחות החברה נמנות מיקרוסופט, סינופסיס, אמדוקס והבנקים דיסקונט, טפחות, לאומי והבינלאומי." 
  6. ^ "BluePhoenix and Crystal Systems Join Forces, Extending Solutions Offerings and Global Reach". Goliath. PR Newswire (Cary, North Carolina; Roosendaal, Netherlands). 11 March 2003. http://goliath.ecnext.com/coms2/gi_0199-2548439/BluePhoenix-and-Crystal-Systems-Join.html. Retrieved 8 October 2011. "Pursuant to a cash tender offer placed in December 2002, Crystal Systems Solutions Ltd. now owns 90% of Liraz Systems Ltd., the parent company of BluePhoenix(TM) Solutions." 
  7. ^ Yom-Tov, Shirley (20 June 2007). "מנהלים באלוט קומיוניקיישנס מכרו מניות בלמעלה מ-2 מיליון דולר; מייסד בלופניקס מכר מניות ב-3 מיליון דולר [Executives at Allot Communications sold shares for over 2 millions dollars; BluePhoenix founder sold shares for 3 million dollars]" (in Hebrew). TheMarker. http://www.themarker.com/markets/1.491419. Retrieved 8 October 2011. "בסוף השבוע מכרה פורמולה את החזקותיה בבלופניקס תמורת 64 מיליון דולר." 
  8. ^ "Purchase of Formula Systems Holdings in BluePhoenix Completed". Goliath. PR Newswire (Herzliya). 28 June 2007. http://goliath.ecnext.com/coms2/gi_0199-6685395/Purchase-of-Formula-Systems-Holdings.html. Retrieved 8 October 2011. "BluePhoenix Solutions Ltd. , the leader in value driven legacy modernization, today announced that it has been informed by Formula Systems (1985) Ltd. that Formula's agreement to sell their entire shareholdings in BluePhoenix to international institutional investors was closed on June 20, 2007." 
  9. ^ "BluePhoenix promotes Yaron Tchwella to CEO, Arik Kilman named Chairman - Update". RTTNews. 6 January 2009. http://www.rttnews.com/Content/BreakingNews.aspx?Node=B1&Id=816673%20&Category=Breaking%20News. Retrieved 7 November 2011. 
  10. ^ "BluePhoenix reappoints Kilman as CEO". Globes. 13 April 2010. http://www.globes.co.il/serveen/globes/docview.asp?did=1000552688&fid=1725. Retrieved 7 November 2011. 
  11. ^ "BluePhoenix Solutions, Ltd. Appoints New CEO". Reuters. 3 November 2011. http://www.reuters.com/finance/stocks/BPHX.TA/key-developments/article/2427533. Retrieved 7 November 2011. 
  12. ^ "BluePhoenix Acquires the Activities and Employees of SDC-FinansSystem". Farlex. Thefreelibrary.com. 31 October 2002. http://www.thefreelibrary.com/BluePhoenix+Acquires+the+Activities+and+Employees+of+SDC-FinansSystem.-a0132313133. Retrieved 8 October 2011. "BluePhoenix(TM) Solutions announced today that it has acquired the activities and employees of SDC-FinansSystem owned by Sparekassernes Datacenter (SDC) and ALLTEL Corporation." 
  13. ^ "Acquisition results in name change for BluePhoenix's Indiana operations". Triangle Business Journal. 25 August 2003. http://www.bizjournals.com/triangle/stories/2003/08/25/daily2.html. Retrieved 8 October 2011. "IntraComp Group Inc. will become the BluePhoenix Solutions US Solution Center effective Sept. 1 as part of a company-wide consolidation triggered by Cary-based BluePhoenix's acquisition of ICG." 
  14. ^ "BluePhoenix Solutions Ltd acquires CePost Ltd". AlacraStore.com. 31 December 2004. http://www.alacrastore.com/deal-snapshot/BluePhoenix_Solutions_Ltd_acquires_CePost_Ltd-374374. Retrieved 8 October 2011. 
  15. ^ "CodeStream Software, Ltd.: Private Company Information". Bloomberg Businessweek. http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=126301. Retrieved 8 October 2011. "As of December 14, 2006, CodeStream Software, Ltd. operates as a subsidiary of BluePhoenix Solutions Ltd." 
  16. ^ Burger, Dan (14 April 2009). Alex, Woodie. ed. "So Long ASNA--It's BluePhoenix System i Division From Now On". Four Hundred Stuff (IT Jungle) 9 (15). http://www.itjungle.com/fhs/fhs041409-story05.html. Retrieved 8 October 2011. "BluePhoenix purchased ASNA in August 2007." 
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