Ness Technologies Ltd. (Nasdaq: NSTC; TASE: NSTC) has had its outsourcing contract with the Ministry of Environmental Protection extended for three years, for a total of NIS 10 million (about $2.6 million). This is Ness's third outsourcing contract with an Israeli ministry so far this year.
Ness will operate and maintain the ministry's IT systems round-the-clock, including infrastructure systems and application development. It will also assume overall responsibility for the ministry's IT systems under a service level agreement.
Ness Israel president Effi Kotek said, "In 2010 we have also won outsourcing contracts with the Ministry of Immigrant Absorption and the Ministry of the Interior."
Ness's share price fell 4.4% on Nasdaq yesterday to $4.30, giving a market cap of $164 million, but rose 1.6% by midday on the TASE today to NIS 17.05.
Published by Globes [online], Israel business news - www.globes-online.com - on June 28, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010