TEL AVIV, Israel, Dec. 9, 2010 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (Nasdaq:TISA) (TASE:TISA), the leading ECM (Enterprise Content Management) innovator of intelligent document recognition, announced today that it has been included in Software Magazine's 2010 Software 500 list of the world's largest software and services companies.
The Software 500 is a revenue-based ranking of the world's largest software and services suppliers targeting medium to large enterprises and their IT professionals, software developers and business managers involved in software and services purchasing. Some 46% percent of the 2010 Software 500 companies are privately held.
"We delivered a sound performance in 2009, proving that our content management technology adds real value even in a challenging economic environment. Since 2009, we have focused our resources on defined vertical markets and mailroom projects. The execution of this plan has been successful and has resulted in strengthening metrics and increased visibility into our performance in 2011," commented Dr. Ido Schechter, Chief Executive Officer of Top Image Systems.Dr. Schechter added, "We are honored that Top Image Systems was included in Software Magazine's Software 500 list. Recognition such as this helps to increase awareness of Top Image Systems among large customers and IT professionals who seek ECM sophisticated solutions." The ranking is based on total worldwide software and services revenue for 2009. This includes revenue from software licenses, maintenance and support, training and software-related services and consulting. Suppliers are not ranked on their total corporate revenue, since many have other lines of business, such as hardware. The financial information was gathered by a survey prepared by King Content Co. and posted at www.Softwaremag.com. About Software Magazine Software Magazine, the Software Decision Journal, has been a brand name in the industry for more than 30 years. Software Magazine and its related website, Softwaremag.com, comprise the online catalog to enterprise software and is the home of the Software 500 ranking of the world's largest software and services companies. About Top Image Systems Top Image Systems is a leading innovator of enterprise solutions for managing and validating content entering organizations from various sources. Whether originating from mobile, electronic, paper or other sources, TIS solutions deliver the content to applications that drive the organization. TIS' eFLOW Unified Content Platform is a common platform for the company's solutions. TIS markets its platform in more than 40 countries through a multi-tier network of distributors, system integrators, value-added resellers as well as strategic partners. Visit the company's website www.topimagesystems.com for more information. The Top Image Systems logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4212 Caution Concerning Forward-Looking Statements Certain matters discussed in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results expressed or implied in those forward looking statements. Words such as "will," "expects,", "anticipates," "estimates," and words and terms of similar substance in connection with any discussion of future operating or financial performance identify forward-looking statements. These statements are based on management's current expectations or beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially including, but not limited to, risks in product development, approval and introduction plans and schedules, rapid technological change, customer acceptance of new products, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of TIS and its competitors, risk of operations in Israel, government regulation, litigation, general economic conditions and other risk factors detailed in the Company's most recent annual report on Form 20-F and other subsequent filings with the United States Securities and Exchange Commission. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether as a result of new information, future events or otherwise .
CONTACT: Top Image Systems, Ltd. Dana Rubin, Director of Corporate Marketing and Investor Relations +972 3 767 9114 firstname.lastname@example.org