THE KOREA TIMES
[Article on Pg. 18 of March 27th, 2015 edition]
TmaxSoft, Korea’s leading software firm specialized in middleware and database software, said it will increase the number of its overseas subsidies to 30 from 7 this year.
Its global expansion is in line with its goal to become a multi-billion dollar business by promoting its latest database systems.
Spokeswoman Jeong Hye-won said it has already named the heads of country managers in Turkey, Poland, Australia and Taiwan.
It currently has offices in Malaysia, and is considering setting up offices in Thailand, Indonesia and Vietnam this year.
“TmaxSoft will aggressively bolster its international presence in target markets in Europe, and North and South America by promoting the TIBERO 6-branded database management system (DBMS) and TIBERO rational products,” the company said in a statement. “We will establish joint ventures, if necessary.”
The market value of the global DBMS industry is estimated at some 40 trillion won, and the company aims to get a 10 percent share.
“This target may look ambitious. But it’s achievable because our TIBERO products are competitive in quality and pricing,” said company CEO Chang In-soo.
Although the global DBMS market is currently led by Oracle and International Business Machines, TmaxSoft is confident that it will be able to attract new customers as it can offer competitive maintenance costs.
The TIBERO 6 has strengthened security to handle jobs for data processing inside networks.
“One of the striking factors is that our latest achievements can be fully operational within frameworks in IBM’s DB2, Microsoft’s SQL and interfaces that are already connected in various Oracle DBMS without technology interruption,” said the company.
Chang said the industry is cutting its reliance on Oracle and IBM systems due to high costs.
He stressed TmaxSoft has been consistent in supplying high-quality software with an affordable pricing strategy.
“A lot of vendors feel an increased financial burden with Oracle. We need alternatives to cut down on Oracle reliance,” Chang said in the statement.
“Our software costs are significantly lower than more traditional relational database systems.”
With TIBERO 6, it released three Big Data products ― a product that can handle a high volume of unstructured data, a real time big data analytic tool and a real time virtualization system.
Based on such market factors, TmaxSoft said new partnerships have been achieved through its strategic partner program. It said more than 1,000 enterprises are using its software.
The company seeks to pursue a localization strategy according to different markets. For greater maintenance service, the company plans to use experts who are experienced in Oracle systems.
The company will put more resources on improving its China business, and set up a joint venture with Inspur there in the first half of the year. Chang said he aims to generate 60 billion won in sales from China.
In Korea, the firm plans to approach telecom and financial firms, industries that Tmax has a minor presence in.
TmaxSoft acquired 400 new customers globally in 2014. The company is aiming for $100 million in sales in Korea and an additional $110 million from its overseas operations, with $10 million coming from the Southeast Asian region.