BluePhoenix Solutions Ltd. (BluePhoenix) develops and markets value driven enterprise information technology (IT) modernization, solutions that enable companies to automate the process of modernizing and upgrading their mainframe and distributed IT infrastructure. The Company’s complete modernization solutions consist of a combination of automated technologies and services that minimize the risk through the whole life cycle of the modernization process. BluePhoenix’s solutions are based on technologies that support the four phases of the process: Understanding, Migration, Remediation, and Redevelopment, which allow companies to leverage their existing systems and applications, and update their systems in order to adapt to new business demands, such as service oriented architecture (SOA). In January 2008, The Company sells its entire holdings in Mainsoft.