Ness Technologies
 | |
Type | Private |
|---|---|
| Industry | Software services |
| Fate | Acquired by Rohatyn Group (2014) |
| Founded | 1999 |
| Headquarters | Tel Aviv, Israel |
| Services | IT Consulting IT Services Outsourcing |
| Revenue |  US$ 545 million(Plus) (2014) |
Number of employees | Over 4500 (2014) |
| Website | NESS.com |
Ness Technologies (Hebrew: נס טכנולוגיות) is an Israel-based provider of IT services.
Contents
1 Overview
2 History
2.1 Origins
2.2 Founding Ness
2.3 Global expansion and IPO on NASDAQ
3 Ranking and awards
4 Notable projects
4.1 Leumitrade Israel
4.2 dbMotion
5 See also
6 References
Overview
Ness Global HQ in Tel Aviv
Ness Technologies provides information technology and business planning services in North America, Europe, the Middle-East, and the Asia Pacific. It operates in two sectors: software engineering (Ness Digital Engineering), and technology and integration (Ness CEE).
Leadership Team:
- Paul Lombardo – Chief Executive Officer
- Anand Subramanian – Senior Vice President, Delivery
- Ed Galati – President, CFO and COO
- Moshe Kranc – Chief Technology Officer
- Vinay Rajadhyaksha - President and Chief Delivery Officer
History
Origins
The origins of Ness Technologies can be traced to TEKEMO, one of the first software houses in Israel, which was co-founded in 1969 by Dr. laxmi, Meir Burstein and Yoram Rosenfeld. The name of the company came from its Hebrew initials, which stand for Advanced Technology (it was known in English as Advanced Technology Limited, or ATL). TEKEM's first major project was for the Israeli Air Force in cooperation with Hughes Aircraft Company, which also bought a share of the company. In the 1970s, the company was acquired by the Tadiran conglomerate and grew to become Israel's leading software house.[1]
Founding Ness
Between 1997 and 1999 the Wolfson family, New York based real estate investors, acquired six Israeli IT companies, of which TEKEM was the largest. Following completion of these acquisitions, all the acquired companies were consolidated into a single operating structure, within Ness Technologies a new company that was incorporated in Delaware in March 1999.[2] Shortly afterword, Warburg Pincus an American private equity firm bought 20% of the company.[3]
Global expansion and IPO on NASDAQ
By 2001, Ness became Israel's largest IT services company, and embarked on a global expansion strategy; the following acquisitions were made as part of that strategy:
- In November 2001, Ness acquired Blueflame Inc., a company founded in 1985, and it had 120 employees and annual revenues of approximately $18 million at the time of its acquisition.[4]
- In September 2002, Ness acquired APP Group CEE B.V., a privately held IT services firm operating in the Czech Republic and Slovakia specializing in CRM, ERP, EAI, enterprise asset management and e-commerce solutions.[5]
- In June 2003, Ness acquired APAR Infotech, a privately held U.S./Indian IT services company, founded in 1998 and providing a wide range of ERP, CRM and EAI software services to the financial services, manufacturing, telecom, retail sales and logistics sectors. In addition to Apar's U.S. headquarters, Apar had operations in the United Kingdom, India and Singapore, and offices in Canada, Australia, Japan and Malaysia. At the time of its acquisition, effective in June 2003, it had approximately 1,200 employees.[6]
- In February 2006, Ness acquired Innova Solutions, another privately held U.S/Indian IT Services company founded in 1997 for $25MN. Innova Solutions was an IT services provider and system integrator, offering a portfolio of offshore and on-site IT services and solutions. At the time of acquisition Innova Solutions had approximately 1000 employees.[7]
IPO and CVCI Acquisition:
- In September 2004, Ness Technologies became a public company following an initial public offering on the Nasdaq.[3]
- In 2011 Ness was acquired by Citi Venture Capital International for US$307 million and delisted from NASDAQ[8]
Ranking and awards
Ness Technologies has been ranked as one of the top ten global IT outsourcing vendors by Brown-Wilson Group. In addition, Ness Technologies was included on the 2007 Top 50 Best Managed Global Outsourcing Vendors list. In 2009, Ness was named in the FinTech 100 ranking of top global technology providers to the financial services industry. Ness has been on the list for three consecutive years.[9] Ness has 7,800 employees and maintains operations in 18 countries.[10] Its clients include Google, IBM, Health Insurance,Cisco, Lockheed Martin, the Israel Police, Pfizer, Visa, Automatic Data Processing, Ebay, Pearson Education, De Beers, Long & Foster Amadeus IT Group and Vysya.[11]
Notable projects
Leumitrade Israel
In 2003, Ness Technologies was chosen to build a stock market trading site for Bank Leumi. "Bashan," as the project was called, suffered many setbacks and delays, but the site was launched in 2005.[12] The site won many prizes, including 2 consecutive WebiAwards for the best site in Israel.[13]
dbMotion
In 2004 Ness established dbMotion as a spin-off of its business intelligence solutions unit, which began to develop healthcare software solutions in 2000. In 2007, Ness Technologies announced the sale of its ownership interest in dbMotion.[14]
See also
- Economy of Israel
- Science and technology in Israel
- Silicon Wadi
References
^ Yossi Vardi - Profile - Business Insider
^ Ness Technologies Annual Report 2005 (Form 10-k)
^ ab Konfortas, Yehuda (August 1, 2005). "Ness Technologies Targets Global Growth The leading IT-services company in Israel looks worldwide for growth opportunities". InformationWeek..mw-parser-output cite.citation{font-style:inherit}.mw-parser-output .citation q{quotes:"""""""'""'"}.mw-parser-output .citation .cs1-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/6/65/Lock-green.svg/9px-Lock-green.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .citation .cs1-lock-limited a,.mw-parser-output .citation .cs1-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/d/d6/Lock-gray-alt-2.svg/9px-Lock-gray-alt-2.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .citation .cs1-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Lock-red-alt-2.svg/9px-Lock-red-alt-2.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration{color:#555}.mw-parser-output .cs1-subscription span,.mw-parser-output .cs1-registration span{border-bottom:1px dotted;cursor:help}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/4/4c/Wikisource-logo.svg/12px-Wikisource-logo.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output code.cs1-code{color:inherit;background:inherit;border:inherit;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;font-size:100%}.mw-parser-output .cs1-visible-error{font-size:100%}.mw-parser-output .cs1-maint{display:none;color:#33aa33;margin-left:0.3em}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration,.mw-parser-output .cs1-format{font-size:95%}.mw-parser-output .cs1-kern-left,.mw-parser-output .cs1-kern-wl-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right,.mw-parser-output .cs1-kern-wl-right{padding-right:0.2em}
^ Ness Technologies buys BlueFlame for $5 mln Globes - 4 Nov 2001
^ Ness paying $16m for Czech company APP Group, The Marker, 24 Sep 2002
^ Israel's Ness buys APAR Infotech for $78 M , Silicon India, 14 May 2003
^ [1], Business Standard, 22 Feb 2006
^ "Ness Technologies merger completed". Globes. 16 October 2011. Retrieved 17 October 2011.
^ Ness Technologies Named to FinTech 100 List for Third Consecutive Year
^ Ness to fine fuel-guzzling staff, Haaretz
^ Silicon India
^ Eliav Gnessin's homepage [heb], 2009
^ "Leumi Wins Awards", PR Leumi, 2009, archived from the original on 2011-06-16
^ "Ness Technologies Announces Sale of its Ownership Interest in dbMotion", PR Newswire, Jan 2007
