IT service and solution providor a global provider Ness Technologies Ltd. (Nasdaq: NSTC; TASE: NSTC) has been awarded a NIS 60 million ($17.3 million) contract from Israel Electric Corporation (IEC) (TASE: ELEC.B22) to implement SAP-based projects, including software testing. Ness won the deal as lead contractor in an international public tender.
The projects include implementation of SAP solutions for the maintenance of power stations and the electricity network, real estate management, financing transactions, oil and gas management and other functions. The implementation of these solutions will be conducted over the next five years. In addition to implementing the projects, Ness will continue to help in the maintenance of IEC's existing SAP ERP over the next five years.
IEC VP and head of Information Systems & Communications Division Yosi Shneck said, "Ness was selected following a rigorous evaluation process. Based on our successful experience with Ness in the implementation of our ERP systems, we are convinced that Ness will help us meet our goals and successfully implement applications that will provide an added value to IEC and its customers."
Ness Israel president Effi Kotek said, "We will provide IEC, which is a strategic client, with our extensive experience and expertise in the utilities industry, including experts from Israel as well as from our subsidiaries in Eastern Europe, where we routinely conduct similarly complex projects for European utilities companies."
Ness's share price was up 2.94% to NIS 23.13 in afternoon trading on the TASE, after closing at $6.64 on Nasdaq yesterday, giving a market cap of $254.13 million.
Published by Globes, Israel business news - www.globes-online.com - on April 13, 2011
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