Innodata Isogen Inc. : Innodata Announces First Major Synodex Contract Innodata Announces First Major Synodex Contract NEW YORK - April 8, 2013 - INNODATA INC. (NASDAQ: INOD) announced today that its Synodex subsidiary has signed a two-year services contract with a Fortune 1000 life insurance company. Based on initially expected volumes, the Company anticipates that the contract's revenue value will approximate $1,400,000 over the two years of the contract. Synodex utilizes a proprietary platform to transform medical data from health records into concise, highly-structured human-readable reports as well as computer-readable XML data. Life insurance companies can use Synodex reports to support underwriter decision-making and can use Synodex XML data to power automated systems. Jack Abuhoff, Innodata's Chairman and CEO, said, "Synodex began marketing its products in October 2012 and has since completed 12 pilot programs with large insurance companies and brokers. Our pilot programs are being received with interest and our roster of prospects continues to grow. "We are pleased that our marketing program has now yielded its first major contract. We believe that the contract provides significant validation of our innovation and platform." About Innodata and Synodex Innodata (NASDAQ: INOD) operates through its Content and Innodata Advanced Data Solutions (IADS) segments. The Content segment is a leading provider of business process, information technology and professional services to publishers, information providers, and other enterprises that are focused on digital enablement. Clients of this segment include leading media, publishing and information services companies, as well as enterprises that are prominent in information technology, manufacturing, aerospace, defense, financial services, government, healthcare, insurance, intelligence, manufacturing and law. Synodex is an IADS subsidiary that designs and develops new capabilities to enable clients in the insurance, medical and healthcare sectors to improve decision-support through digital technologies. Synodex offers the ability to unlock the contents of paper and imaged medical documents and turn them into usable information. Synodex operations are HIPAA, DPA and SSAE 16SOC 1Type II compliant, and are also ISO 27001 certified. Synodex and Innodata are on the US Safe Harbor registry. Recent Innodata honors include EContent Magazine's EContent 100, KMWorld Magazine's 100 Companies That Matter in Knowledge Management, the International Association of Outsourcing Professionals' (IAOP) Global Outsourcing Top 100, D&B India's Leading ITeS and BPO Companies and the Black Book of Outsourcing's Top List ofLeading Outsourcing Providers to the Printing and Publishing Business. Headquartered in the New York metro area, Innodata has offices and operations in the United States, the United Kingdom, Israel, India, Sri Lanka, and the Philippines. This release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words "project," "head start," "believe," "expect," "should," "anticipate," "indicate," "point to," "forecast," "likely"and other similar expressions generally identify forward-looking statements, which speak only as of their dates. These forward-looking statements are based largely on our current expectations, and are subject to a number of risks and uncertainties, including without limitation, that contracts could be terminated by clients, projected or committed volumes of work may not materialize; that our Innodata Advanced Data Solutions segment has not reported any substantial revenues to date and is subject to the risks and uncertainties of early-stage companies; the primarily at-will nature of the contracts with our customers and the ability of customers to reduce, delay or cancel projects; continuing Content Services revenue concentration in a limited number of customers; continuing Content Services reliance on project-based work; inability to replace projects that are completed, cancelled or reduced; depressed market conditions; changes in external market factors; the ability and willingness of our customers and prospective customers to execute business plans which give rise to requirements for digital content and professional services in knowledge processing; difficulty in integrating and deriving synergies from acquisitions, joint venture and strategic investments; potential undiscovered liabilities of companies that we acquire; changes in our business or growth strategy; the emergence of new or growing competitors; various other competitive and technological factors; and other risks and uncertainties indicated from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update or review any guidance or changes in status of customer contracts, client relationships, or other forward-looking information, whether as a result of new information, future developments or otherwise. Actual results could differ materially from the results referred to in the forward-looking statements. In light of these risks and uncertainties, there can be no assurance that the results referred to in the forward-looking statements contained in this release will occur. Company Contact Raj Jain Vice President Innodata Isogen, Inc. firstname.lastname@example.org (201) 371-8024 or Media Contact Stanley or Andrew Berger SM Berger & Company (216) 464-6400 ------------------------------------------------------------------------------ This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Innodata Isogen Inc. via Thomson Reuters ONE HUG#1690957
Innodata Isogen Inc. : Innodata Announces First Major Synodex Contract
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