SOURCE: Kovair Software, Inc.

September 14, 2006 18:11 ET

Kovair Software and Speedev, Inc. to Go to Market as Kovair Software; New Strategic Direction to Focus on Global Application Lifecycle Management

MILPITAS, CA -- (MARKET WIRE) -- September 14, 2006 -- Kovair Software, Inc. and Speedev, Inc. today announced that the company formed from their recent merger will go to market as Kovair Software, Inc., and will focus its strategic direction on application lifecycle management solutions supporting global software development and management of offshore outsourcing.

The market for offshore IT services will be worth $29.4 billion by 2010, according to data released in a recent report, by IDC's Program Manager for Application Outsourcing and Offshore Services, Barry Rubenstein. In the US alone, that represents a compounded annual growth rate of over 14%. IDC notes that much of the growth is because of aggressive moves by outsourcers into enterprise operations and core IT services.

"Kovair Software and Speedev share a proven track record in providing industrial-strength collaborative Web platform and document management solutions," said Kovair Chairman and CEO Bipin Shah. "With the explosive growth in outsourced application development, we believe that focusing our efforts on this market segment will enable significant growth opportunities for Kovair. As more and more IT work is multi-sourced to several locations globally, the need for location-sensitive process management tools that automate workflow across the application lifecycle, and allow management to have oversight and control regardless of where the work is being done, is growing even faster."

"We intend to focus Kovair's resources on establishing a global application lifecycle management solution that builds on our core competencies, enables us to pursue these growth opportunities, and helps organizations reduce the cost and complexity of managing global application development," Shah continued.

Kovair Software, Inc.'s flagship product, Kovair Global Lifecycle, is a feature-rich, configurable global development platform that offers a complete set of integrated tools and processes for managing the entire application lifecycle. Architected with a common user interface and a single shared repository to ease the complexities of "any time, anywhere" development, Kovair Global Lifecycle has been adopted rapidly in market sectors where there is a critical need for automated workflow and reliable, predictable application lifecycle management processes.

Kovair Software also today announced the appointment of Sky Basu to the position of chief marketing officer. Mr. Basu, president of Kovair Software, will expand and refocus his responsibilities to align the company's strategic marketing initiatives with the tremendous growth opportunity in the market for global application lifecycle solutions. As the founder and CEO of Speedev, Inc., Mr. Basu led the development and launch of the most comprehensive third-generation application lifecycle management system in the market, Speedev's Application Lifecycle and Process Flow Management suite.

"I am happy to announce Sky's appointment today," said Bipin Shah. "As Kovair Software enters its next growth phase, we are significantly increasing our focus on marketing to support our continued growth and protect our competitive edge. Sky brings a wealth of product expertise and customer insight to this important role."

About Kovair Software, Inc.

Kovair Software, Inc. is the innovation leader in global application lifecycle management solutions, supporting globally distributed application development and management of offshore outsourcing. With adaptive workflow and highly configurable process management, Kovair solutions are designed from the ground up as an integrated web-based platform enabling anytime, anywhere access. Founded in 1999, Kovair Software has offices in Silcon Valley and Kolkata, India, and employs its own unique software products to manage its globally distributed software development operations. For more information, visit www.kovair.com or call 408-262-0200 x2007.

Kovair and the Kovair logo are registered trademarks of Kovair Software, Inc. Kovair Global Lifecycle is a trademark of Kovair Software, Inc. All other trademarks are the property of their respective owners.

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