Global growth continues with 400 new wins in 2014, strong momentum in Southeast Asia with seven new customers
SINGAPORE, Mar 17, 2015 - (ACN Newswire) - TmaxSoft, Korea's leading enterprise software company specializing in middleware, database and framework software solutions, continues to make headway in its goal to become a one-billion dollar business and to make Korea a global software powerhouse. Positioned as the new choice in IT challenging predatory services of oligopoly, TmaxSoft has acquired 400 new customers globally in 2014. In Southeast Asia, the company has successfully penetrated the market by securing several key accounts, including a telco and a government agency in Malaysia, and a leading logistics company in Singapore, and fostered regional partnerships with the likes of Hewlett-Packard and IBM. TmaxSoft now has an office in Malaysia and is reviewing opportunities to set up offices in Thailand, Australia, Indonesia and Vietnam within 2015. TmaxSoft targets to achieve a revenue of USD100 million in Korea and an additional USD110 million from its overseas operations, with USD10 million coming from the Southeast Asian region.
TmaxSoft offers a wide portfolio of products addressing enterprise business concerns and challenges in the middleware market. The company released its flagship product JEUS, a Web Application Server, in 2000, to the domestic market dominated by global brands like BEA, Oracle, and IBM. Within three years, JEUS was ranked at the top with the highest market share of 23.9%, and was recognized by Gartner as a "Visionary" in the Magic Quadrant twice in 2009 and 2011.
With the strong belief that domestic software can achieve success globally, TmaxSoft launched one of its key DBMS solutions, the most difficult system software to develop - Tibero 1.0, in 2003. By 2008, the company became the first in Korea and the second in the world to successfully develop a software based on Tibero Active Cluster (TAC), a shared database clustering technology known for its reliability and performance, in a bid to compete with big global software leviathans. Tibero achieved the highest growth rate of 69.5% in the Korean market in 2011/2012, according to IDC, surpassing global brands like Oracle (9.9%), Microsoft (23.3%) and IBM (5.1%).
Over the past few years, TmaxSoft has been expanding into overseas markets backed by a growing number of business referrals from multinational customers in and outside of Korea. Currently, the company has offices across eight countries including Korea, Japan, USA, China, UK, Singapore, Russia and Brazil. They have secured many customer wins and projects including Nomura, Posco, SK Telecom, KT, Bank of Korea, Hyundai, Kia Motors, Samsung Life Insurance and Daewoo Securities.
Dae Yeon Park, TmaxSoft's founder and CTO, is excited about the achievements and comments: "In the past one year that TmaxSoft has been in Singapore, we have made significant progress in building our channel partner ecosystem and acquiring several key regional customers. The market is ripe for the picking. Gartner has projected that IT spending within the Asia-Pacific region is going to grow by eight per cent this year. Currently we are very focused on the Singapore and Malaysian markets; but there are a couple more countries in the region we are reviewing and wish to enter in the years to come."
David Kim, Managing Director, Southeast Asia, shares his optimistic outlook for the Asia Pacific software market: "Big data and data analytics are on the rise globally. IDC predicted that big data spending will grow three-fold in 2015. However, 90% of all current digital data remains unstructured in the market. TmaxSoft sees a lot of potential to capitalize on in the Asia Pacific market and our expandable database solutions would help meet the increasing demand for big data storage and analytics from the local market."
TmaxSoft currently holds approximately 40% market share in the Web Application Server (WAS) sector in its home country, according to IDC Korea's data in 2014, and three titles as the No.1 Enterprise Software Company, the fastest growing database company in Korea, and the No.1 Mainframe Rehosting solution vendor Japan.
TmaxSoft is also organizing its inaugural Global Partner Conference in Seoul, Korea, from March 26th to 27th, which will feature a comprehensive overview of TmaxSoft's cutting-edge technology and products. TmaxSoft will also unveil a new partnership policy and benefits guideline that organizes partnerships into multiple categories and grades. The new policy is expected to reinforce existing relationships as well as facilitate formations of new partnerships across its overseas subsidiaries. In addition, TmaxSoft will share details of its specialized business strategy with the attendees by outlining the new business policies and support for partners.
Founded in 1997, TmaxSoft, Inc. has built a reputation as a leading provider of world-class enterprise solutions designed to meet the global standards for next-generation systems. TmaxSoft has successfully completed over 3,000 projects at more than 2,630 customer sites across the finance, telecommunications, manufacturing, and government sectors. TmaxSoft has its global headquarters in Bundang , South Korea, and major offices in UK, Russia, Brazil, Japan, China, Singapore and the United States. Major products include Sysmaster(R) - system management solution, OpenFrame(R) - mainframe rehosting solution, JEUS(R) - web application server, ProFrame(TM) - application development framework, Tibero (RDBMS) and InfiniData - big data solution, Tmax(R) transaction process monitor, and WebtoB(R) - web server. For more information, please visit www.tmaxsoft.com.