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NEW YORK, August 7, 2000 /PRNewswire/ -- August
7, 2000--The A Consulting Team, Inc. ("TACT®") (Nasdaq: TACX)
a leading provider of e-Services to Fortune 1000 companies , announced
today that it has made an investment in Methoda, LTD., an Israeli
company that specializes in the development and implementation
of full e-Services life cycle methodology. Methoda's life cycle
development framework addresses planning, developing, implementing
, and deploying e- Services systems across the enterprise. Methoda
will enhance its comprehensive framework by merging TACT's existing
methodology. TACT will adapt Methoda's enhanced methodology and
apply it to existing and impending large-scale e- Services development
and integration projects with its Fortune 1000 client base. TACT's
clients will enjoy the benefits of reduced time to market , on
time and on budget delivery of high quality, critical Web applications.
Methoda's scalable framework is designed to meet the enterprise-wide
needs of a wide variety of firms - from medium-sized organizations
to the needs of large companies. The framework has been adopted
by the Israeli Government and many large companies based in
Israel. "TACT is now integrating its own proven development
methodology with Methoda's framework to provide an industry-leading
comprehensive, systematic methodology for developing and implementing
web-based e-Services applications for our clients. The result
will be quality, on target systems that will help our clients
increase revenues, improve service and decrease costs in the
new economy marketplace. We just announced that over half of
TACT's revenues are generated from e-Services and we expect
that this portion of our business will dramatically increase.
TACT's customers will be well served by the enhanced capabilities
provided by Methoda's proven technology," said Shmuel BenTov,
CEO of TACT.
After integrating this technology within its current development
efforts, TACT will consider introducing the framework as a separate
product offering to large and medium sized U.S. organizations.
"We're very pleased with TACT's investment and adoption of our
development framework and its immediate implementation in Fortune
1000 eServices applications. This is a great way to introduce
Methoda's technology to the U.S. corporate marketplace," said
Asher Yuval, President and founder of Methoda.
About Methoda
Methoda, LTD. is a consulting company specializing in software
quality assurance (SQA) and software engineering and management,
offering versatile services to the IT market. Methoda's clients
include the major industries in Israel: government, finance, high-tech,
utilities, manufacturing, and software development firms. Methoda's
services allow its customers to implement high quality and cost
effective IT systems that meet their budgets while significantly
shortening the project development cycle.
About
TACT
TACT®
is an end-to-end e-Services provider including web strategy and
design, web development and integration, and web application hosting
to a broad range of Fortune 1000 companies and other large organizations.
In addition, TACT provides its clients with enterprise-wide Information
Technology consulting, software and training services and solutions.
TACT is a majority owner of T3 Media, Inc. www.t3media.com,
an e-business web integrator, holds a minority interest in Always-On,
Inc. www.always-on.com,
and is the parent of American Catalyst, LLC www.americancatalyst.com.
More information about TACT® can be found at its web site at www.tact.com.
TACT is traded on the Nasdaq under the symbol TACX.
"Safe
Harbor" Statements under the Private Securities Litigation Reform
Act of 1995: Statements made in this press release which are not
historical facts, including those that refer to TACT plans, beliefs
and intentions, are "forward-looking statements" that involve
risks and uncertainties. These risks and uncertainties could cause
actual results to differ materially from the forward-looking statements,
and include, but are not limited to, TACT's ability to scale its
existing and any new businesses. For a more complete description
of the risks that apply to TACT's business, please refer to the
Company's filings with the Securities and Exchange Commission.
The Company's actual results may differ materially from the results
anticipated in these forward-looking statements as a result of
certain factors set forth under Risk Factors and elsewhere in
the Company's Annual Report on Form 10-K with the Securities and
Exchange Commission on March 31, 1999.
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