TEL AVIV, Israel, March 24, 2016 (GLOBE NEWSWIRE) -- Top Image Systems Ltd. (NASDAQ:TISA) a global innovator of intelligent content processing solutions, today announced that members of the executive management team have in recent days purchased shares and will continue to make additional purchases of the Company’s common stock in the open market using their own personal funds in compliance with applicable securities regulations.
The purchase of common stock in the open market is a reflection of the confidence that the executive management team has in the strategy to refocus the company from being a technology platform provider to delivering end to end solutions that drive growth and profitability.
The strategy is designed to capitalize on the accelerated adoption of cloud and hybrid financial process automation solutions with shorter sales cycles, higher volumes and more predictable recurring revenue streams while extending market coverage through global partnerships, such as the recently announced partnership with Xerox.
Coupled with the recently announced restructuring to take costs out of the business, the executive management team is committed to returning the company to profitable growth, earning the confidence of its stakeholders and generating sustainable customer and shareholder value.
“I deeply appreciate this expression of personal commitment and the belief of our entire management team in the future of Top Image Systems,” commented Michael Schrader, CEO Top Image Systems. “The support and leadership from this team will drive the company to new levels of success.”
About Top Image Systems
Top Image Systems™ (TIS™) is a leading innovator of enterprise solutions for managing and validating content entering organizations from various sources. Whether originating from mobile, electronic, paper or other sources, TIS solutions deliver the content to applications that drive the organization. TIS's eFLOW is a common platform for the company's solutions. TIS markets its platform in more than 40 countries through a multi-tier network of distributors, system integrators, value-added resellers as well as strategic partners. Visit the company's website http://www.TopImageSystems.com for more information.
Caution Concerning Forward-Looking Statements
Certain matters discussed in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results expressed or implied in those forward looking statements. Words such as "will," "expects," "anticipates," "estimates," and words and terms of similar substance in connection with any discussion of future operating or financial performance identify forward-looking statements. These statements are based on management's current expectations or beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially including, but not limited to, risks in product development, approval and introduction plans and schedules, rapid technological change, customer acceptance of new products, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of TIS and its competitors, risk of operations in Israel, government regulation, litigation, general economic conditions and other risk factors detailed in the Company's most recent annual report on Form 20-F and other subsequent filings with the United States Securities and Exchange Commission. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
Company Contact: Shelli Zargary Director of Corporate Marketing firstname.lastname@example.org +972 3 767 9114 Investors: James Carbonara Regional Vice President, Hayden IR email@example.com + 1 646 755 7412
Source:Top Image Systems Ltd.