BluePhoenix Wins $0.7 Million COBOL to Java Modernization Contract From a Leading US Financial Organization

BluePhoenix Solutions BPHX today announced that it was awarded a $0.7 Million contract from a leading US financial organization. The customer selected BluePhoenix to modernize the COBOL to Java environment in order to reduce its cost structure, improve flexibility and have a solid platform for future growth. In choosing BluePhoenix to provide this solution, the customer will preserve a fully functional equivalent of the applications in the new Windows, Microsoft SQL, and Java. The new solution is reliable, flexible and cost effective and enables the customer to develop its business without the constraints imposed by legacy technology. “We are very pleased to be awarded this contract. It is a great example of the growing trend of enterprises realizing significant cost savings and efficiency gains from IT modernization,” said Arik Kilman, CEO of BluePhoenix Solutions. “This contract continues to demonstrate the strong market interest in our automated COBOL automation solution. Our ability to automatically modernize COBOL applications to Java creates an excellent opportunity for future growth.”