Ness Technologies

Ness Technologies Limited
Private
Industry Software services
Fate Acquired by Citi Venture Capital International (2011)
Founded 1999
Services IT Consulting
IT Services
Outsourcing
Revenue Increase US$ 547 million(Plus) (2009)
Number of employees
 Over 7800 (As on 31st Dec, 2009)[1]
Website NESS.com

Ness Technologies ( Hebrew: נס טכנולוגיות‎) is an Israel-based provider of IT services.

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 three sectors: software engineering, technology and integration (Ness CEE). And advanced solutions for defense and homeland security (Ness TSG).

History

Origins

The origins of Ness Technologies can be traced to TEKEM, one of the first software houses in Israel, which was co-founded in 1969 by Dr. Yossi Vardi, 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.[2]

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.[3] Shortly afterword, Warburg Pincus an American private equity firm bought 20% of the company.[4]

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 September 2004, Ness Technologies became a public company following an initial public offering on the Nasdaq.[4]

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, 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

References

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