Expands Reach in European Markets, Emphasizing Large Scale Outsourcing in Enterprise Applications
FREMONT, CAlif and LONDON -- (MARKET WIRE) -- October 19, 2006 -- Sierra Atlantic, www.SierraAtlantic.com, a leader in offshoring enterprise applications, today announced the acquisition of UK-based Iterion www.iterion.com, a leading independent consultancy with delivery capabilities reaching throughout Europe with a strong reputation in project management, business analysis and technology implementation and strengths in human capital management and payroll solutions.

With this acquisition, Sierra Atlantic is adding local domain talent to their outsourcing model while strengthening its European presence. The purchase of Iterion is another indication of Sierra Atlantic's commitment to being a full service provider to its Global customers while focusing on their local domain needs. Combined, Sierra Atlantic and Iterion bring over two decades of excellence in large scale enterprise services such as implementation, upgrade, development, maintenance and support, serving over 500 customers globally.

"The driving factor in this acquisition is the market shift from large scale commoditized outsourcing to business process and local domain knowledge centric outsourcing," said Bob Hersh, CFO, Sierra Atlantic.

"In traditional offshoring, capacity and price are the driving factors," said GK Murthy, SVP Enterprise Solutions, Sierra Atlantic. "In our vision, customers ideally like to leverage a blend of local talent with a large scale offshore ramp up. Sierra Atlantic has several Global customers where this blended model offers the best of both worlds."

Iterion's focus in human capital management domain and Sierra Atlantic's enterprise application capabilities offers the best value to the European market and for the New Oracle Economy. "This is a strategic move for Iterion to join forces with a best in class global services company like Sierra Atlantic," said Ani Kyriacou co-founder of Iterion. "Sierra Atlantic provides us with an established offshore arm, as well as an excellent track record in providing global enterprise services for Oracle, Siebel, PeopleSoft, Microsoft, SAP and other application customers. By joining forces with Sierra Atlantic we will be able to offer our existing client base as well as new clients, a broader range of service offerings." In his new role, Mr. Kyriacou will serve as VP of Services, Europe for Sierra Atlantic, while co-founder Rupert Moreton will be VP of European Delivery.

About Iterion
Established in 2003, Iterion is one of Europe's fastest growing independent consultancy firms, providing strategic and technical solutions to top tier clients across the continent. With strong experience within manufacturing, banking and professional services industry verticals, Iterion provide strategic, functional and technical experience in Human Capital Management. Iterion has a solid reputation for providing full lifecycle PeopleSoft delivery and for working closely with clients to ensure that they achieve maximum return on HR systems investment. For more information please visit www.Iterion.com

About Sierra Atlantic
Sierra Atlantic is a leader in offshoring enterprise applications, helping our customers optimize their investments in enterprise business applications -- ERP, CRM and SCM -- from leading vendors such as Agile, Oracle and SAP. With expertise derived from deep R&D relationships with enterprise software leaders, we offer complete lifecycle e-business application management solutions -- development, implementation, integration, upgrade and support -- using our NShore(TM) methodology. Sierra Atlantic integrates these point solutions into Application Networks® that enable seamless business processes within and outside the enterprise. With over 750 highly satisfied customers since 1993, Sierra Atlantic is headquartered in Silicon Valley with offices in Boston, Chicago, Dallas, New York, Toronto, London, Paris, Switzerland, Dubai, India, Malaysia and Singapore. For more information, please visit www.SierraAtlantic.com.

For more information, please contact:
Paul Macchia
Fusion Public Relations
+ 1 212-651-4216
paul.macchia@fusionpr.com

Brian P. Rogan
SVP of Strategic Business and Marketing
+1 312-502-2851
brian.rogan@sierraatlantic.com
SOURCE: Sierra Atlantic