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Conversion Services International, Inc. Receives Proceeds From Sale of Similarity Systems to Informatica
EAST HANOVER, N.J. (February 13, 2006) - - Conversion Services International, Inc. (AMEX: CVN), 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 that it received $2,050,000 as a result of Informatica Corporation's recent acquisition of Similarity Systems. In July 2005, Conversion Services International (CSI) had sold substantially all the assets of its subsidiary, Evoke Software Corporation, a provider of data discovery and profiling software, to Similarity Systems for cash and future consideration. CSI will use the proceeds for general corporate purposes.
"We anticipated that together, Similarity Systems and Evoke could provide a more comprehensive data quality solution to the market," said Scott Newman, president, CEO and chairman. Newman continued, "It is satisfying to see that Informatica has recognized the value of the resulting integration of the technologies of the two companies. We applaud Informatica for its plan to incorporate this data quality technology into their data integration platform, providing a full information management solution to clients."
About Conversion Services International, Inc.
A Note On Forward-Looking Statements
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