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BluePhoenix Solutions Boosts Executive Team, Adds Sales VP From IBM

SEATTLE, WA--(Marketwired - May 05, 2014) - BluePhoenix (www.bphx.com) (BPHX), the legacy application lifecycle company, announced the hiring of Martin Korsin, Vice President of Sales. 

Mr. Korsin brings over thirty years' experience in enterprise infrastructure and applications. He joins BluePhoenix after 7 years at IBM leading infrastructure initiatives with Fortune 200 retail and financial services clients. Prior to IBM, Mr. Korsin served in executive sales roles for technology consulting firms focused on application migration and outsourcing. Mr. Korsin also worked in application development for Financial Services as Corporate Vice President for Distributed Systems for New York Life Group Department prior to moving into sales.

"Legacy system modernization is certainly a growth area," says Mr. Korsin. "IBM gave me the opportunity to work with and evaluate the vendors in this space, and BluePhoenix delivers the most complete solution and comprehensive approach."

"Martin brings a unique perspective to BluePhoenix," says Matt Bell, President and CEO. "He's worked with one of our biggest partners and customers. He's helped put together solutions for the companies we're targeting, and even has direct technical experience with the applications we touch. We're excited to leverage his experience and guidance in helping the company grow."

Mr. Korsin's goals for 2014 include broadening relationships with Fortune 1000 customers, global IT outsourcing partners and contributing to the extension of BluePhoenix's service line.

"I'm excited to have the opportunity to work with BluePhoenix. The company brings a great value proposition and is unique in its space. I look forward to partnering with the rest of the executive team to focus on growth," says Mr. Korsin.

About BluePhoenix Solutions
BluePhoenix Solutions Ltd. (BPHX) is a legacy platform modernization provider. The BluePhoenix portfolio includes a comprehensive suite of tools and services for automated database and application migration. Leveraging over 20 years of best-practice domain expertise, BluePhoenix works closely with its customers to minimize risk and provide a clear path from legacy platforms like COBOL, Natural/Adabas and others to modern solutions like SQL, DB2, Java and more.

BluePhoenix customers come from diverse industries and vertical markets such as automotive, banking and financial services, insurance, manufacturing, and retail. BluePhoenix has six offices in the United States, United Kingdom, Italy, Romania, and Israel.

Cautionary Statement Regarding Forward-Looking Statements
Certain statements contained in this release may be deemed forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal Securities laws. You can identify these and other forward-looking statements by the use of words such as "may," "will," "plans," "believes," "estimates," "expects," "predicts", "intends," the negative of such terms, or other comparable terminology. Because such statements deal with future events, plans, projections, or future performance of the Company, they are subject to various risks and uncertainties that could cause actual results to differ materially from the Company's current expectations. These risks and uncertainties include but are not limited to: the effects of the global economic and financial trends; market demand for the Company's products; successful implementation of the Company's products; changes in the competitive landscape, including new competitors or the impact of competitive pricing and products; and such other risks and uncertainties as identified in BluePhoenix's most recent Annual Report on Form 10-K and other reports filed by it with the SEC. Except as otherwise required by law, BluePhoenix undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. This press release is also available at www.bphx.com. All names and trademarks are their owners' property.