Making inroads into the global software market by establishing a local subsidiary
Posting date: 2014-01-03
TOBESOFT establishes a US subsidiary.
- Making inroads into the global software market by establishing a local subsidiary
TOBESOFT (CEO Kim Hyeong-gon), a specialist in business UI/UX, announced on December 20 through electronic disclosure that it would invest $5 million in the US and establish NEXAWEB, Inc. to expand its overseas sales network and lay the foundation for entry into the global software market.
“We have been strategically preparing to make inroads into the global software market for a few years,” said an insider of TOBESOFT about the background of the establishment of the local subsidiary. “The US subsidiary is a second local subsidiary after the subsidiary in Japan. The purpose is to pre-empt the development tool market related to HTML5, the next-generation web standard technology, and smart work, which are attracting the public's attention.”
The purpose of TOBESOFT's establishment of a local subsidiary in the US is thought to be to use the Xplatform and multi product lineup, which are regarded as the next-generation UI/UX development platform standard, to “expand its presence in overseas markets” and “become a global software company.”
In relation to TOBESOFT's global move, a company official said, “TOBESOFT's RIA Technology Standard RFP was officially adopted by the US-based 'Object Management Group (OMG),' an international technological standardization organization, last April, and already entered into a strategic business partnership with a global ERP company, SAP, and embarked on development for upgrading the SAP UI. We have been preparing to enter the US, European and Asian software market in stages."
TOBESOFT is scheduled to establish the US subsidiary on January 27, and TOBESOFT will own 100% of the equities in this subsidiary.