ModSys International Ltd. - Ord
MDSY
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- ModSys International Ltd. (NASDAQ:MDSY) develops and markets enterprise legacy information technology (IT) modernization solutions and services worldwide. The company offers software renovation tools and methodologies for complex conversion and migration projects, including assessment, conversion, testing, and deployment phases; incremental modernization services for transitioning legacy systems such as COBOL and Natural/Adabas to modern platforms like SQL, DB2, and Java; and portfolio modernization capabilities supporting cloud deployment. Its solutions target industries including insurance, financial services, retail, automotive, manufacturing, and government entities. Founded in 1987 and headquartered in Dallas, Texas, at 6600 LBJ Freeway Suite 210, the company previously operated as BluePhoenix Solutions Ltd. In 2014, ModSys completed a significant merger with ATERAS (Sophisticated Business Systems, Inc.), an all-stock transaction that created Modern Systems as the branded entity, expanded its U.S. presence with headquarters initially in Seattle, Washington, enhanced partnerships with IBM, Dell, HP, and Fujitsu, and broadened its customer base to over 200 enterprises across North America, Western Europe, Eastern Europe, the Middle East, the United States, the United Kingdom, Canada, Singapore, and the Netherlands. The company changed its name to ModSys International Ltd. in January 2015 following the integration. No major acquisitions, funding rounds, or strategic shifts have been reported in the last 1-2 years.