Archive for December, 2011

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Advent Software Inc (ADVS) Shares Downgraded to a “Neutral” Rating by Zacks Investment Research Analysts

December 29th, 2011
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Advent Software Inc (NASDAQ: ADVS) was downgraded by equities research analysts at Zacks Investment Research from an “outperform” rating to a “neutral” rating in a research note issued to investors on Wednesday.

Separately, analysts at JPMorgan Chase & Co. (NYSE: JPM) cut their price target on shares of Advent Software Inc to $28.00 in a research note to investors on Tuesday, October 25th.

Advent Software, Inc. (Advent) offers software and services that automate work flows and data across investment management organizations, as well as the information flows between an investment management organization and external parties. It derives revenues from the development, marketing and sale of software products, hosting services, data interfaces and related maintenance and services that automate, integrate and support certain mission-critical functions of investment management organizations primarily in the United States, Europe, Asia, the Middle East and Africa. Advent’s clients are investment management institutions and service providers that manage, advice and perform recordkeeping functions on financial assets. In October 2009, the Company completed the sale of its subsidiary, MicroEdge, Inc. to Vista Equity Partners. In March 2010, the Company’s wholly owned subsidiary, Advent Norway AS, acquired Goya AS.

Shares of Advent Software Inc opened at 25.32 on Wednesday. Advent Software Inc has a 52 week low of $19.00 and a 52 week high of $31.63. The stock’s 50-day moving average is $26.04 and its 200-day moving average is $24.54. The company has a market cap of $1.286 billion and a price-to-earnings ratio of 42.13.

Source:http://localizedusa.com/2011/12/28/advent-software-inc-advs-shares-downgraded-to-a-neutral-rating-by-zacks-investment-research-analysts/

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‘M’sia needs to produce own cyber security software’

December 29th, 2011
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Malaysia needs to produce its own cyber information security software as depending on foreign software may risk information leaks and intelligence breaches, said a software expert here yesterday.

Universiti Putra Malaysia (UPM) Computer Science and Information Technology Faculty dean Prof Dr Ramlan Mahmod said infiltration could happen covertly as currently there was a lack of understanding on source code logic streams used by foreign software.

“At the moment, there is no software capable of checking the source code of software to ensure the software used is confirmed safe.

“For the realisation of this information technology, the country needs to acquire ‘technical knowhow’ in information security and expertise in various fields such as computer science, mathematics and engineering,” he told Bernama.

He said to acquire the expertise, the nation needed to carry out the foundation work such as training more experts in information technology and by bringing in more external technologies into the country.

Dr Ramlan said information leaks could happen in two situations, that is when the data was in transmission and hacking of existing data in storage.

“To prevent hackers from attacking data in transmission or unauthorised access to data storage, the information could be encrypted or hidden.

“This is the basis of information and software development important to ensure our cyber defence,” he said.

He said the government needed to play a major role to set up a strong system of cyber defence as it needed financial commitment, expertise, legislation and continuous monitoring.

Source:http://www.theborneopost.com/2011/12/29/msia-needs-to-produce-own-cyber-security-software/

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Progress Software Names Henry Hicks Supply Chain Industry Vice President

December 29th, 2011
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Progress Software Corporation PRGS -3.21% , a leading software provider that enables companies to be operationally responsive, announced it has named Henry Hicks as Industry Vice President, Supply Chain. A long-time advocate for the optimization of the virtual supply chain, Hicks will drive the market strategy and solution development for Progress Software’s global Supply Chain Practice, helping customers gain real-time foresight into disruptions and offering them the ability to conquer supply chain complexity and meet service level agreements.

Hicks’ unparalleled expertise in sales and marketing strategy and supply chain management has been honed through a breadth of strategic positions. Recently, Hicks was the Vice President of Worldwide Services Sales and Marketing for Lenovo Computers and was responsible for long-term growth strategies and overall sales performance of the division. Prior to Lenovo, Hicks was a Vice President at Capgemini Consulting and led the West Supply Chain Practice, where he advised clients on how to optimize and virtualize their supply chains. He has also held key roles with Deloitte, Dell, Frito Lay and UPS.

Jay Bhatt, president and chief executive officer, Progress Software said: “Business leaders need real visibility to mitigate risks and take quick, decisive actions, and the supply chain presents an enormous opportunity to realize these benefits. Hicks’ expertise and leadership will help Progress customers deploy supply chain technologies that enable them to become more operationally responsive and build market share.”

Hicks earned his bachelor’s degree in Operations Management from Auburn University and his master’s of business administration from Emory University.

About Progress Software Corporation

Progress Software Corporation PRGS -3.21% is an independent enterprise software company that enables businesses to be operationally responsive to changing conditions and customer interactions as they occur — to capitalize on new opportunities, drive greater efficiencies and reduce risk. The company offers a comprehensive portfolio of best-in-class enterprise software spanning event-driven visibility and real-time response, open integration, data access and integration, and application development and deployment — all supporting on-premises and SaaS/Cloud deployments. Progress maximizes the benefits of operational responsiveness while minimizing IT complexity and total cost of ownership. Progress can be reached at www.progress.com or +1-781-280-4000.

Progress and Progress Software are trademarks or registered trademarks of Progress Software Corporation and/or its subsidiaries or affiliates in the U.S. and other countries. Any other names contained herein may be trademarks of their respective owners.

Source:http://www.marketwatch.com/story/progress-software-names-henry-hicks-supply-chain-industry-vice-president-2011-12-28

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U.S. judge guts Marin racketeering lawsuit in computer software fiasco

December 29th, 2011
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A federal judge has rejected most of Marin County’s racketeering claims against the computer consultants who allegedly sold the county a $30 million software lemon.

But the judge also denied a motion by Ernest Culver, a former assistant county auditor, to dismiss outright the county’s lawsuit against him. The county claims software vendor SAP bribed Culver with a job offer while he was still managing the doomed computer project for the county.

Judge Susan Illston issued the decision Tuesday in federal court in San Francisco. The county has 20 days to amend its lawsuit with more factual information to support the racketeering allegations.

The lawsuit is part of an expensive legal war Marin has mounted over the accounting software, which the county ordered in 2005 to help with financial and personnel management. The county says the software does not work and must be replaced.

The county claims the defendants fraudulently induced Marin to buy the software, failed to implement it properly and covered up its failings. The defendants — Culver, SAP and Deloitte Consulting LLP — deny the allegations.

Last week, county supervisors approved another $1 million for legal expenses, on top of the $2.5 million the county has already spent.

The county has one lawsuit in Marin Superior Court and a racketeering suit in federal court. Judge Illston’s decision Tuesday addressed motions by Culver and SAP to dismiss the federal action.

The decision was largely favorable to SAP. The judge ruled that Marin had failed to allege enough evidence to support claims of mail fraud, wire fraud and conspiracy.

“We are encouraged and think that in this action, the court did the right thing,” said Andy Kendzie, a SAP spokesman based in Washington D.C.

However, the judge allowed a bribery claim against SAP and Culver to go forward. Culver went to work for SAP after the software project imploded, and the county claims SAP baited Culver with a future job to keep the software project funded.

“Although a thin reed, the Court finds the County has alleged sufficient facts to state a plausible claim of bribery,” Illston wrote.

The judge also rejected Culver’s claim that he is immune from the lawsuit because he was acting in his capacity as a public official.

County Counsel Patrick Faulkner could not be reached for comment Wednesday. Culver’s attorneys, Thomas Mayhew and Christina Rose Hollander, are out of their office until next week.

Source:http://www.marinij.com/marinnews/ci_19634990

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Smith Micro Software to Present at 2012 Needham Growth Conference

December 29th, 2011
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Smith Micro Software, Inc. SMSI -3.51% , a leading provider of wireless and mobility solutions, today announced that William W. Smith, Jr., President and CEO, will be presenting at the Needham & Company 14th Annual Growth Conference on Wednesday, January 11, 2012, at 11:20 am ET. The conference is being held at the New York Palace Hotel in New York City.

Smith Micro will offer a live audio webcast of its presentation at 11:20 am ET on January 11, 2012, at http://wsw.com/webcast/needham49/smsi/ , as well as an archived replay, which may be accessed in the investor relations section of Smith Micro’s website at www.smithmicro.com .

Conference Details:

– Needham & Company 14th Annual Growth Conference

– January 10-12, 2012

– The New York Palace Hotel in New York City, NY

– More information can be found at http://www.needhamco.com .

About Smith Micro Software, Inc.:

Smith Micro Software, Inc. provides software solutions that simplify, secure and enhance the mobile experience. Our portfolio of products and services spans Connectivity Management and Communications Management solutions. Smith Micro’s solutions include client and server software applications used by the world’s leading wireless operators, device manufacturers and enterprises. For more information about Smith Micro Software SMSI -3.51% , visit smithmicro.com.

Safe Harbor Statement:

This release contains forward-looking statements that involve risks and uncertainties, including without limitation, the company’s ability to increase its business and the anticipated timing and financial performance of its new products and potential acquisitions. Among the important factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements are changes in demand for the company’s products from its customers and their end-users, new and changing technologies, customer acceptance of those technologies, new and continuing adverse economic conditions, and the company’s ability to compete effectively with other software companies. These and other factors discussed in the company’s filings with the Securities and Exchange Commission, including its filings on Forms 10-K and 10-Q, could cause actual results to differ materially from those expressed or implied in any forward-looking statements. The forward-looking statements contained in this release are made on the basis of the views and assumptions of management regarding future events and business performance as of the date of this release, and the company does not undertake any obligation to update these statements to reflect events or circumstances occurring after the date of this release.

Smith Micro and the Smith Micro logo are registered trademarks or trademarks of Smith Micro Software, Inc. All other trademarks and product names are the property of their respective companies.

Source:http://www.marketwatch.com/story/smith-micro-software-to-present-at-2012-needham-growth-conference-2011-12-28

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ManagementPlus Contributes $140,000 in EHR Software to People’s Health Clinic in Park City

December 29th, 2011
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More than 9,000 office visits to the People’s Health Clinic (PHC) in Park City, Utah, in 2012 will use the latest in Electronic Health Record (EHR) technology, thanks to a holiday donation of $140,000 in practice management software from ManagementPlus. ManagementPlus’ EHR 5.0 software will now assist the clinic’s staff and volunteer doctors in providing care to uninsured patients in Utah’s Summit and Wasatch counties.

Under executive director Nann Worel, The People’s Health Clinic will use the software to further ensure accurate and excellent care with alerts and reminders the software provides during each patient contact. The increased ability to gather and submit summary information on patients will make it easier for PHC to apply for and receive additional grant funding in the future.

Funding is critical, as the clinic’s traffic is steadily increasing due to rising unemployment and skyrocketing insurance costs, according to Worel. The clinic’s traffic increased from 700 visits in 2007 to more than 7,000 visits in 2010.

Dr. John Hanrahan, PHC founder and one of the two staff doctors, said, “We’re seeing more people each year who’ve lost their health insurance or are unable to get insurance due to being seasonal or temporary workers or working multiple part time jobs. The complexity of care is also increasing. This software will be especially beneficial for ensuring continuity of care when multiple volunteers and staff work with patients. This is a huge issue, and one of the biggest benefits the EHR system provides. ManagementPlus is perfect for meeting this kind of need.”

“I am pleased to join with all of our employees to help this tremendous clinic provide excellent care for the growing base of individuals in need in these two counties,” said Christine Archibald, ManagementPlus founder and CEO.

Source:http://www.marketwatch.com/story/managementplus-contributes-140000-in-ehr-software-to-peoples-health-clinic-in-park-city-2011-12-28

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Correcting and Replacing Event 1 Software Announces OEM Endorsed Partner Relationship with Sage North America

December 29th, 2011
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Award Winning Excel-based Reporting and Business Intelligence Solution to be Sold and Marketed by Sage North America’s Construction and Real Estate Business Unit

Event 1 Software announced today that it has signed an agreement as an Endorsed Partner of Sage’s Construction and Real Estate Development Partner Program.

Effective November 1, 2011 Sage North America’s Construction and Real Estate business unit has assumed exclusive sales and marketing rights for Office Connector products within North America. Sage customers can now order Sage Timberline Office Connector as part of the Sage Timberline Office product offerings.

Sage Timberline Office Connector works with data from Sage Timberline Office for analysis and data manipulation using familiar Excel reports, worksheets and graphs. Additionally, data stored in Excel worksheets are automatically mapped to Sage Timberline Office, improving accuracy involved with database maintenance and updates and reducing risk through better access to data. Once set up, spreadsheets and their connections remain intact, allowing customers to easily refresh data as needed without demanding additional reformatting.

“Although we have a very large customer base and were already represented by most of Sage’s top Sage Timberline Office Business Partners, being an endorsed partner leverages Sage’s very effective direct sales capabilities, marketing strength, and brand recognition. We’re very excited because this provides both Sage and Event 1 Software the opportunity to reach a much larger audience of companies who would benefit from this technology,” said James Coyle, President, Event 1 Software.

Event 1 Software has been providing integrated Excel-based financial reporting for Sage Timberline Office customers since 2001 and was recognized as Development Partner of the Year in 2011 for Sage Timberline Office pertaining to the Office Connector product suite. Event 1 Software was also recognized as Development Partner of the Year in 2011 for Sage Master Builder pertaining to Liberty Reports for Sage Master Builder. Liberty Reports is an Excel Add-in which transforms Excel into a powerful and intuitive reporting engine.

Located in Vancouver, WA, Event 1 Software is a leading developer of Microsoft Excel-based Reporting, Inquiry and Business Intelligence software. Since 1998, Event 1 Software has provided technology to thousands of forward-thinking end users through its suite of Excel-based integration products, including Liberty Reports and Office Connector. Other products from Event 1 Software include Event 1 Integrator for Meridian Prolog Manager and Sage Timberline Office as well as Event 1 Forecast for distributed Excel-based project cost forecasting.

Source:http://www.marketwatch.com/story/correcting-and-replacing-event-1-software-announces-oem-endorsed-partner-relationship-with-sage-north-america-2011-12-28

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