Magic Software Enterprises Signs Estimated $1 Million Deal With NMB-Heller Holding N.V. To Develop New EDP System
(EMAILWIRE.COM, March 01, 2001 ) IRVINE, CA (March 1, 2001) ? Magic Software Enterprises (Nasdaq: MGIC), a leading provider of state-of-the-art application development technology and business solutions, announced today that it has signed a deal totaling more than $1 million with NMB-Heller Holding N.V. to develop and implement a new EDP system for its subsidiaries in Germany, Poland, the Czech Republic and Slovakia. NMB-Heller Holding N.V. is a member of the Heller International Group, a subsidiary of Heller Financial (NYSE: HF) and the Dutch ING Group NV. The new Magic EDP system is expected to be fully operational by the end of this year.
The core business of NMB-Heller Holding N.V. is capital financing (flexibly linked to purchase and sales transactions) and adapted credit management. Increasingly, it also is becoming involved in solution-focused financing.
In 2000, NMB-Heller Holding N.V. determined that it needed a new EDP system to replace its old one. Because the current system was built using RPG running on the AS/400, the new system would need to continue to run on the AS/400, at the same time it provided platform-independence with Windows and browsers at the front end.
?Magic was selected because of its speed of development, platform- and database-independence, and open communication and interfacing with other commercial products,? said Jan den Oudsten, project manager for NMB-Heller Holding N.V. ?It?s one thing to hear about all the features and benefits of the various products on the market. It?s another thing altogether to see those same qualities successfully demonstrated in a competitive situation.?
Magic was awarded the business following a four-day workshop where it competed against other development tools.
?Magic has a solid reputation working with companies worldwide in the financial sector, and we are pleased to have this opportunity to build a more sophisticated solution for NMB-Heller Holding N.V.,? said Menachem Hasfari, chief executive officer of Magic. ?We expect to provide a smooth transition from the old system to the new solution, which can be expected to grow as NBM-Heller Holding N.V.?s business continues to flourish.?
About Magic Software Enterprises
Magic Software Enterprises, a member of the Formula Group (Nasdaq: FORTY), develops, markets and supports software development and deployment technology that enables enterprises to accelerate the process of building and deploying applications that can be rapidly customized and integrated with existing systems. Magic technology, applications and professional services are available through a global network of subsidiaries, distributors and Magic solutions partners in approximately 50 countries. The Company?s North American subsidiary is located at 1642 Kaiser Avenue, Irvine, Calif., 92614, telephone (949) 250-1718, fax (949) 250-7404, http://www.magicsoftware.com.
The Formula Group is an international information technology company principally engaged, through its subsidiaries and affiliates, in providing software consulting services, developing proprietary software products and producing computer-based solutions.
Except for the historical information contained herein, the matters discussed in this news release include forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary significantly based upon a number of factors including, but not limited to, risks in product and technology development, market acceptance of new products and continuing product conditions, both here and abroad, release and sales of new products by strategic resellers and customers, and other risk factors detailed in the Company?s most recent annual report and other filings with the Securities and Exchange Commission.
The core business of NMB-Heller Holding N.V. is capital financing (flexibly linked to purchase and sales transactions) and adapted credit management. Increasingly, it also is becoming involved in solution-focused financing.
In 2000, NMB-Heller Holding N.V. determined that it needed a new EDP system to replace its old one. Because the current system was built using RPG running on the AS/400, the new system would need to continue to run on the AS/400, at the same time it provided platform-independence with Windows and browsers at the front end.
?Magic was selected because of its speed of development, platform- and database-independence, and open communication and interfacing with other commercial products,? said Jan den Oudsten, project manager for NMB-Heller Holding N.V. ?It?s one thing to hear about all the features and benefits of the various products on the market. It?s another thing altogether to see those same qualities successfully demonstrated in a competitive situation.?
Magic was awarded the business following a four-day workshop where it competed against other development tools.
?Magic has a solid reputation working with companies worldwide in the financial sector, and we are pleased to have this opportunity to build a more sophisticated solution for NMB-Heller Holding N.V.,? said Menachem Hasfari, chief executive officer of Magic. ?We expect to provide a smooth transition from the old system to the new solution, which can be expected to grow as NBM-Heller Holding N.V.?s business continues to flourish.?
About Magic Software Enterprises
Magic Software Enterprises, a member of the Formula Group (Nasdaq: FORTY), develops, markets and supports software development and deployment technology that enables enterprises to accelerate the process of building and deploying applications that can be rapidly customized and integrated with existing systems. Magic technology, applications and professional services are available through a global network of subsidiaries, distributors and Magic solutions partners in approximately 50 countries. The Company?s North American subsidiary is located at 1642 Kaiser Avenue, Irvine, Calif., 92614, telephone (949) 250-1718, fax (949) 250-7404, http://www.magicsoftware.com.
The Formula Group is an international information technology company principally engaged, through its subsidiaries and affiliates, in providing software consulting services, developing proprietary software products and producing computer-based solutions.
Except for the historical information contained herein, the matters discussed in this news release include forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary significantly based upon a number of factors including, but not limited to, risks in product and technology development, market acceptance of new products and continuing product conditions, both here and abroad, release and sales of new products by strategic resellers and customers, and other risk factors detailed in the Company?s most recent annual report and other filings with the Securities and Exchange Commission.
Contact Information:
Magic Software Enterprises
Kathy Hanley
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Email us
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Magic Software Enterprises
Kathy Hanley
Tel:
Email us
This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/us-press-release-distribution.php.
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