[November 21, 2009] BluePhoenix Solutions Signs Purchase Agreement to Acquire Assets of DSKnowledge Tweet Nov 20, 2009 (Close-Up Media via COMTEX) -- BluePhoenix Solutions announced that it signed a purchase agreement to acquire certain assets of DSKnowledge, a knowledge management software company and affiliates. "The addition of Knowledge Management modernization products to our offering establishes BluePhoenix as an enterprise wide modernization company. We are eager to expand our portfolio of solutions as it enables us to modernize enterprises starting from infrastructure components such as platforms and databases and ending with the modernization of the knowledge base," said Yaron Tchwella, CEO, BluePhoenix Solutions. "DSKnowledge is the de-facto leader in Israel with customers including El Al Airlines, Visa, Orange, Bezeq, Yes Cables, Hot cables and DHL among others. We believe that our global sales force will enable us to expand the reach outside of Israel to additional enterprises around the world." Under the terms of the agreement, BluePhoenix will acquire the Business for approximately $3.7 million of which BluePhoenix may, at its sole discretion, pay approximately $1.8 million in BluePhoenix shares and will assume liabilities of approximately $1.2 million. In addition, BluePhoenix may pay additional consideration based upon the future performance of the Business. The transaction is subject to the satisfaction of certain closing conditions and is anticipated to close toward the end of 2009. BluePhoenix Solutions is a provider of legacy IT modernization solutions. The BluePhoenix portfolio includes a suite of tools and services from global IT asset assessment and impact analysis to automated database and application migration, rehosting, and renewal. ((Comments on this story may be sent to [email protected])) [ Back To TMCnet.com's Homepage ]