New Office Expands Company's Global Reach in Emerging Markets
Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, announced today further expansion into the Asia Pacific region with the opening of a new office in Beijing. Staffed with more than 50 employees, the Beijing office is Advent's largest office outside of North America and will play an important role in establishing the Company's presence in mainland China.
The 50-plus employees in the Beijing office were previously part of Advent's contract workforce with a Beijing software outsourcing firm, and have been working on the research and development of Advent's portfolio of products for the past four years.
"We are excited to be expanding our presence in Asia Pacific, and we look forward to deepening our relationships with clients in the region," said Lily Chang, Executive Vice President and Chief Technology Officer at Advent. "Having a presence in China is part of our growth strategy and is a must for a global company like Advent. The fast-growing China market is rapidly embracing new technology and we see enormous long-term potential in the Chinese market for our broad and innovative portfolio of investment solutions. As an industry leader with a proven history of success, Advent is well-prepared to support this growth."
Although this is the Company's first office in mainland China, Advent established a full-time presence in Asia Pacific last year with the opening of its Hong Kong office, and the Company currently has more than 30 clients in the region. Advent's Beijing office is located at 1218, China Resources Building, 8 Jianguomembei Avenue. It marks Advent's 12th office worldwide; the Company also has a presence throughout North America, Europe and the Middle East.
Advent Software, Inc., a global firm, has provided trusted solutions to the world's financial professionals since 1983. Firms in 60 countries rely on Advent technology to run their mission-critical operations. Advent's quality software, data, services and tools enable financial professionals to improve service and communication to their clients, allowing them to grow their business while controlling costs. Advent is the only financial services software company to be awarded the Service Capability and Performance certification for being a world-class support and services organization. For more information on Advent products visit http://www.advent.com/about/resources/demos/pr  (http://www.advent.com/about/resources/demos/pr ) .
Any forward-looking statements included in this press release involve risks and uncertainties that could cause actual results to differ materially from our expectations. These risks and uncertainties include difficulty in developing localized versions of products and marketing and distributing our products internationally, unfamiliar or evolving legal and regulatory requirements, difficulties in managing foreign operations, acceptance of existing and new products and enhancements, the impact of initiatives by competitors, continued uncertainties and fluctuations in the financial markets and economic conditions and other risks detailed in Advent's most recent filings with the Securities and Exchange Commission, including, but not limited to, its quarterly reports on Form 10-Q and its 2008 annual report on Form 10-K, copies of which may be obtained by contacting Advent Software at (415) 645-1787 or by visiting Advent's Investor Relations Web site at www.advent.com  (http://www.advent.com ) .
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