HALIFAX (July 14, 2005) — Versata, Inc. (NASDAQ: VATA), a leading independent provider of rapid automated application development platforms, headquartered in Oakland, Calif., has transferred its development lab and resources from Bangalore, India, to Halifax, Nova Scotia, Canada. The strategic shift brings development and engineering positions to one of North America’s most promising nearshore locations.
Nova Scotia’s Economic Development Minister Ernest Fage made the announcement today, July 14, along with Brett Adam, Chief Technology Officer of Versata, and Stephen Lund, president and CEO of Nova Scotia Business Inc. (NSBI).
“Versata is a well-respected and innovative software firm that has recognized the benefits of Nova Scotia’s ideal environment for application development and maintenance," said Minister Fage. "Nova Scotia is determined to attract entrepreneurial high-tech companies to the province to enrich the diversity of our software code development, IT competencies and growth opportunities."
NSBI will provide Versata with a maximum $2.49-million (CDN) payroll rebate, over seven years, based on its locating up to 85 new positions at its Halifax location. Versata currently employs 15 people in Halifax.
"Our Nova Scotia team represents one of Versata’s most valuable developmental assets,” said Mr. Adam. “The location has proven itself to be a cost-effective, creative and reliable development environment. In addition to the province’s highly-educated workforce and top rate broadband infrastructure, we were pleased to discover a progressive business climate characterized by a mature alignment between government, academic and business communities."
Versata’s existing development team in Halifax has already made its mark by taking the lead in the development of the recently released Versata 6™, an integrated and comprehensive business rules engine (BRE).
NSBI's CEO said Versata's growing presence in Nova Scotia is another endorsement of the province's strong business case for companies that calculate value based on the full costs of their chosen outsourcing option.
"By shifting its offshore operations to our location in Eastern Canada, Versata is telling the world about the business case for application development in Nova Scotia," said Mr. Lund. "The ‘total business costs’ calculation is critical for companies choosing
to locate development operations in the Nova Scotia nearshore environment.”
Nova Scotia Business Inc. is the business-development agency for Nova Scotia, led by a private-sector board of directors. It is the investment attraction arm of the province and helps companies in Nova Scotia meet their growth potential through business advisory, export development and financial services.
Versata provides solutions for automating and simplifying the building, maintenance and ongoing evolution of large, complex, data-intensive enterprise applications. The Versata solution effectively and efficiently replaces time intensive hand-coding efforts with simple, intuitive business rules and graphical process flow specification. Versata Global 2000 customers include Bank of America, B.T., Cendant, CGI-AMS, JPMorgan Chase & Co., Meridian Health Care Management, Merrill Lynch, and Union Bank of California. For more information, please visit http://www.versata.com .
Versata and Versata 6 are registered trademarks or trademarks of Versata, Inc. in the United States and other countries. Other brands or products appearing are trademarks of their respective holder(s).