Ness Technologies Completes Acquisition of Selesta S.p.A. in Italy
HACKENSACK, New Jersey, September 5 -- Ness Technologies, Inc. (NASDAQ: NSTC), a global provider of information technology (IT) services and solutions, today announced the completion of its acquisition of Selesta S.p.A., a privately-held IT software distribution and systems integration company based in Italy.
Selesta distributes software products developed by global independent software vendors (ISVs) to customers in Italy in the private and public sectors. The company has 130 employees in Italy.
The purchase price was EUR 9 million, with an additional EUR 9 million to be paid over the following two years based on the achievement of certain performance goals. Following the deal's closing, Selesta became part of NessPRO, Ness Technologies' product distribution business, currently operating in Israel, Spain, Portugal, Singapore and Thailand. Selesta changed its name to NessPRO Italy. Adriano Prefumo, President of Selesta, will serve as an active director on NessPRO Italy's board, and Emilio Cremonesi, Chief Executive Officer and Chief Financial Officer of Selesta, was appointed Managing Director of NessPRO Italy.
"The acquisition of Selesta reflects Ness Technologies' strategy to expand the global activity of NessPRO, positioning it as a global distribution channel for best-of-breed enterprise software products," said Sachi Gerlitz, President and CEO of Ness Technologies. "We anticipate that NessPRO will be one of our highest margin segments."
"In December 2006, Ness Technologies acquired the Spanish subsidiary of Selesta, which has become NessPRO Spain, and now we are delighted to strengthen our presence in Europe with the acquisition of Selesta," said Yoram Michaelis, Executive Vice President, Corporate Strategy, and President of NessPRO. "Selesta has more than 25 years of experience in distribution of innovative IT solutions, and has a very good reputation in the Italian market."
"We are very happy to join Ness Technologies, giving us the opportunity to become part of a highly regarded global IT company," said Adriano Prefumo. "Integrating Selesta's experience in Italy with Ness' global know-how would create a powerful combination."
NessPRO is the Ness Technologies' line of business which sells enterprise software licenses of third-party software vendors to corporate clients in geographies which are underserved or completely uncovered by the software vendors' own sales forces. NessPRO also provides a range of implementation, customization and support services around those licenses.
About Selesta S.p.A
Founded in 1981 and headquartered in Genoa, Italy, Selesta distributes software products spanning a wide range of applications, and offers various professional services in Italy. The company serves a large client base in the banking, insurance, manufacturing, telecommunications and government sectors, among others. For more information about Selesta, visit selesta.com.
About Ness Technologies
Ness Technologies (NASDAQ: NSTC) is a global provider of end-to-end IT services and solutions designed to help clients improve competitiveness and efficiency. Ness specializes in outsourcing and offshore, systems integration and application development, software and consulting, and quality assurance and training. With 7,500 employees, Ness maintains operations in 16 countries, and partners with numerous software and hardware vendors worldwide. For more information about Ness Technologies, visit www.ness.com.
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E-Mail: media.int@ness.com
Source: Ness Technologies Inc
