MONTREAL, Sept. 15 /CNW Telbec/ - Speedware Limited, a leading provider of innovative enterprise software solutions and productivity tools, today announced the signing of a contract to provide legacy modernization services for its client CANNEX Financial Exchanges Ltd. The contract is based on the sale of licenses and the provision of support and consulting services over a period of approximately seven months.
CANNEX's modernization project includes moving from an HP e3000 to an HP-UX server, replacing the company's TurboIMAGE database system with an Eloquence system and migrating their Speedware V7 and Speedware Autobahn application technologies to the modern platform. CANNEX decided to retain their core technology instead of moving to newer technologies such as .NET and Java. "The business applications written in Speedware V7 and Speedware Autobahn software have brought our company incredible gains in productivity and efficiencies and have helped us to remain competitive. We don't believe those efficiencies can be rivaled by other technologies such as .NET or Java," said Steve Waters, Vice President of Systems at CANNEX. "And, since no one knows their own technology better than Speedware, it made sense to have them handle the whole modernization project."
Legacy modernization is increasing in importance as more companies realize that it is both costly and risky to continue doing business using older computing environments. Legacy modernization can extend the life of older systems by maintaining current functionality and protecting the investment in current business applications while moving to modern platforms and technologies that are more open and powerful. Speedware offers comprehensive modernization solutions designed to protect companies' investments and enable business continuity as they move toward newer computing platforms.
"Speedware is pleased to see one of our long-time customers recognizing the continued benefits of our Speedware V7 and Autobahn software tools," said Andy Kulakowski, General Manager of Speedware. "CANNEX has been a Speedware customer for over 20 years and is very satisfied with the level of productivity that our products provide to their developers. This is a key reason why they were not willing to consider a .NET or Java environment."
CANNEX Financial Exchanges Limited is a privately held Canadian company that has provided data and information services to the financial services industries in Canada since 1983 and the United States since 1996. The company gathers and compiles interest rates and calculation values for financial products and services offered by financial institutions in Canada. CANNEX redistributes this information to brokers and agents, financial institutions, print and electronic media, analytical services and consumers in the most efficient method for each client.
CANNEX is an independent third party and is not licensed to sell financial products. None of its shareholders, directors or employees are licensed to sell financial products. No financial institution or broker/agent organization owns or controls any shares of CANNEX.
Speedware Ltd. is a leading provider of enterprise software solutions and offers a complete suite of legacy modernization, migration and application portfolio management solutions, business intelligence tools and application development solutions. Speedware has been dedicated to helping companies modernize their business applications for over 30 years. The company offers market leaders the end-to-end solutions that allow them to react quickly to the needs of a changing business.
Speedware Ltd. is a wholly-owned subsidiary of Activant Solutions Inc., a leading US-based technology provider of business management solutions serving distributors and specialty retailers since 1972.
For more information, visit Speedware at www.speedware.com.
This announcement relating to Activant and Speedware (together the "Company") may contain statements that are forward looking within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, such as statements concerning trends, future revenues, technology, products, services or contractual relationships, or the Company's execution. These statements are based on current expectations and are subject to risks and uncertainties which could materially affect the Company's results, including, without limitation, market demand for products and technology, the Company's ability to successfully execute, meet contractual obligations, and satisfy customer requirements or expectations, the integration and utilization of the Company's technology and products with technology and products supplied by others, customer acceptance of the Company's products or services, and the retention and deployment of skilled service providers. Except to the extent required by applicable securities laws, we undertake no obligation to update or publicly revise any of the forward-looking statements. Please refer to Activant's Quarterly Report on Form 10-Q for the quarter ended June 30, 2009 and Annual Report on Form 10-K for the year ended September 30, 2008, which have been filed with the Securities Exchange Commission and can be found through the Activant investor relations website at www.activant.com/company/investors for a full discussion of the risks and other factors.
Note: Activant and the stylized Activant logo design are registered trademarks of Activant Solutions Inc., Speedware is a registered trademark of Speedware Ltd. and Speedware V7 and Autobahn are trademarks of Speedware Ltd. All other trademarks are the property of their respective owners.
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For further information: For further information: Dani Knezevic, Speedware Ltd., (514) 747-7007, ext. 8404, firstname.lastname@example.org