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Conversion Services International Announces Sale of Evoke Software to Similarity Systems
EAST HANOVER, N.J. (July 18, 2005) - Conversion Services International, Inc. (OTCBB: CSII) ("CSI"), a premier professional services firm focused on delivering the value in business intelligence, data warehousing and data management solutions to Global 2000 organizations and other businesses, today announced its sale of Evoke Software Corporation to Similarity Systems.
Terms of the transaction were not disclosed. CSI originally acquired the assets of Evoke Software, a provider of data discovery and profiling software, in 2004.
Scott Newman, CSI's President, Chief Executive Officer and Chairman, said, "We consider Evoke Software's AXIO product to be one of the finest in the industry. At this juncture, our strategic forward direction is to focus heavily on intensifying our professional services practices. As such, we chose to exit the software product business by selling Evoke to Similarity, with whom we have a long-standing productive business relationship. The strengths of all of the organizations are better leveraged under this arrangement."
In Gartner's report entitled MarketScope Update: Data Quality Technology 2005, it states that the data quality technology market is at a critical point. Newman added, "The combination of Evoke's AXIO product with Similarity Systems' ATHANOR product creates a more comprehensive market solution, which ultimately benefits our clients."
Newman continued, "Data quality is one of the most pressing issues faced by any business today. Solid business decisions rest on quality data, which is also imperative to compliance reporting requirements, such as Sarbanes-Oxley. CSI's policy is to work with best-of-breed software vendors and we will continue to work with AXIO and ATHANOR, under the auspices of Similarity Systems, in our client engagements."
More information about this transaction can be accessed in the Similarity Systems press release dated July 18, 2005.
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About Conversion Services International, Inc.
A Note on Forward-Looking Statements
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