Adiv Baruch, Presently Executive VP Business Development of Ness Technologies, Will Be the Company's New CEO and President
TERADYON, ISRAEL - December 3, 2003 B.O.S. Better On-line Solutions Ltd. (the "Company" or "BOS") (Nasdaq:BOSC - News; TASE:BOS) announced today that Mr. Adiv Baruch will be the next CEO and President of the Company, and will assume his position January 1, 2004. Mr. Adiv Baruch, presently Executive VP Business Development of Ness Technologies, has expertise in the Telecom and High-tech industry. Mr. Baruch is well respected in the Israeli High-tech market as well as the international markets with his strategic capabilities and marketing vision.
Mr. Baruch is also a former partner and active director holding an executive position at IPEX, acquired by Ness. He has served as founder and an executive or director for several IT companies and Internet start-ups, and was significantly involved in the M&A process and in assisting these companies in their global expansion. Mr. Baruch is actively involved as the chairman of the Israeli Export Institute Hi-Tech and Telecom Division. He has a B.S. in Computer Science and Industrial Engineering from the Technion -- Israel Institute of Technology.
Mr. Israel Gal, founder and incumbent CEO and President, will continue to serve as a director of the Company, as well as the CEO of the Company's wholly-owned subsidiary, Boscom Ltd., thus allowing him to fully devote his time to the development and marketing of Boscom's innovative products.
Edouard Cukierman, B.O.S. Chairman stated: "I believe that the nomination of Mr. Adiv Baruch as the new CEO will contribute to the development of the Company. Mr. Baruch brings with him significant relevant experience that will enable the Company to further expand and increase its position in the international markets."
Through its wholly owned subsidiary, BOScom, the Company develops, produces and markets multi-functional, cross-enterprise communication and networking products. Marketed under the BOS?NOVA brand, these products are renowned for their simplicity of use, quality, and reliability.
The IP Telephony line offers innovative convergence migration solutions that leverage a corporation's existing equipment infrastructure.
The legacy line provides solutions for IBM midrange-to-PC and LAN connectivity and GUI emulation, and printing solutions that are operating system-independent.
B.O.S. (www.boscorporate.com) was established in 1990 and became a public company traded on the Nasdaq National Market in 1996 (Nasdaq:BOSC), and on the Tel Aviv Stock Market in 2002 (TASE:BOS).
For further information, please contact:
B.O.S. Better On-Line Solutions [nk] Ltd.
The forward-looking statements contained herein reflect management's current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of BOS, including, but not limited to, those risks and uncertainties detailed in BOS' periodic reports and registration statements filed with the U.S. Securities Exchange Commission.