May 6, 2009 (FinancialWire) — BluePhoenix Solutions (NASDAQ: BPHX) (Current Market Cap: US$44.80 Mil.) said it has signed an IT modernization contract with an international provider of relocation solutions. The value of the contract is around $3.5 million and the project is scheduled to complete in early 2010.

The project consists of range of application and database modernization and platform re-hosting. The resultant benefits, according to BluePhoenix, include reduced IT costs, improved operational efficiencies, and the ability for the business to provide its end clients with new and enhanced customer services.

Cary, North Carolina-based BluePhoenix Solutions provides IT modernization solutions to companies in the automotive, banking and financial services, insurance, manufacturing, and retail industries, among others. is the leading provider of value-driven legacy IT modernization solutions.

The company has 15 offices in the USA, UK, Denmark, Germany, Italy, France, The Netherlands, Romania, Russia, Cyprus, South Korea, Australia, and Israel.

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