Bangkok--Feb 14--Penner-Madison
Despite the global economic slowdown, Asia Pacific remains the fastest-growing region for VERITAS Software (Nasdaq: VRTS), the world’s largest independent storage software management company, and an area which will accelerate in 2002 as the company continues to expand in key markets – with China, Korea and India remaining top priorities.
“We see tremendous opportunities in Asia Pacific in the year ahead and have resolved to invest significantly to expand our engineering, marketing, sales and technical capabilities for this market,” said Gary Bloom, Chairman, President and CEO of VERITAS Software.
“Much of our sales growth and presence in the region has only really happened in the past three years, so we are committed to increase our resources in all major cities and countries,” he said.
Excluding Japan, the company recorded 100 percent revenue growth for the past two years in the region, with Asia North (China, Hong Kong, Korea and Taiwan) representing the largest revenue generating area.
VERITAS has established offices in Australia, China, Hong Kong, India, Japan, Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, Taiwan, while Indonesia and IndoChina offices are expected to open by 2002. The company has opened a key research centre in Pune, India as part of its annual US$3 billion global Research and Development programme.
“The proliferation of the Internet and data-intensive applications coupled with large scale infrastructure projects in the emerging markets of China and India will help boost demand for the storage. Because of this we are confident that the Asia Pacific region will remain a key driver for revenue growth at VERITAS,” said Mr. Bloom.
VERITAS Software is the de-facto standard for data-availability solutions, with more than 60 of the world’s leading servers and operating systems integrating its software. The company established strategic partnerships with more than 85 major industry drivers including the leading makers of operating systems and platforms, database and messaging enterprise applications, network infrastructure and hardware devices.
With the explosive growth of data, businesses are increasingly looking to storage software to assist in the management of their data storage and data availability systems. As storage vendors respond to customers’ needs for greater interoperability and integration, VERITAS’ storage management software will assume a much more prominent role in the heterogeneous storage environment.
“To further strengthen our product portfolios, additional resources will also be added to help us penetrate into new platform areas such as HP, IBM and Linux which we have never had before,” said Mr. Bloom.
The IT revenues from Asia Pacific (excluding Japan) are expected to grow 13.5% in 2002 while data storage falls under the highest growth area and is expected to hit 76% growth rate, according to research firm IDC.
Mr. Bloom also said that the tragedies in the US in last September have also underscored the importance of data protection and disaster recovery, in a boost to their secondary and complementary role in the IT infrastructure of a few years ago. As data volume expands, the dependency on storage solutions will also increase.
“Despite the adverse economy situation, spending on mission-critical areas such as data storage and protection is an undeniable priority of businesses. We believe that advanced storage technology will see the biggest sector growth in the IT market and the demand will continue to grow.”
Ranked the top-ten software companies in the world, VERITAS is also the first company to be named as one of the fastest growing technology companies by Deloitte & Touche’s Fast 50 Program for six consecutive years.
About Veritas Software Corporation
VERITAS Software Corporation (Nasdaq: VRTS) provides essential data availability software solutions that enable customers to protect and access their business-critical data for Business Without Interruption?.
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