Establishes Verity Japan K.K. to Better Pursue Market Opportunities, Provide In-Country Technical Support
SUNNYVALE, Calif. and TOKYO, Japan - 2003-10-21 - Verity Inc. (NASDAQ: VRTY), a leading provider of enterprise software that helps organizations maximize the return on their intellectual capital investment, today announced the establishment of Verity Japan K.K. in Tokyo.
"The establishment of Verity Japan K.K. confirms to our customers, partners, shareholders, and employees Verity's commitment to expand our technological leadership and market share in intellectual capital management software on a global basis," said Anthony J. Bettencourt, Verity's president and CEO. "We believe Japan is one of the world's great economies with a tremendous demand for our technology. Verity looks forward to becoming an active contributor to the Japanese business community and serving the different needs and requirements of our customers in the country."
"Verity Japan K.K. intends to build on the company's strong, existing strategic partnerships with such companies as NEC Corporation and Digital Garage Inc. to drive business growth," Bettencourt added. "With the establishment of Verity Japan K.K., we will be better able to help Japanese enterprises of all sizes maximize the return on their intellectual capital investments and assets with the award-winning Verity Ultraseek and Verity K2 product lines. Our dedicated technical support staff will also be on hand to serve our Japanese customers."
Recognized for excellence and innovation by industry analysts, Verity's Ultraseek and K2 product lines enable enterprises of all sizes to identify, manage and utilize the information contained in their digital and human assets to realize competitive advantages such as increased productivity, shortened business cycles, and expanded sales and revenue.
Verity K2 Enterprise fully integrates search, classification and personalization capabilities for enterprise portals to uncover vast amounts of information and data residing in both internal and external repositories. The product is a fault-tolerant, highly scalable solution that delivers a host of other advanced search capabilities, such as adaptive ranking, support for 26 languages, as well as comprehensive gateway support to leading information repositories, including Lotus Notes, Microsoft Exchange, ODBC and Documentum.
"NEC welcomes the establishment of Verity's subsidiary in Japan," said Akihiko Shinora, division manager, Front Office Systems Division of NEC Corporation. "We are very pleased with the Japanese introduction of Verity K2 Enterprise, the company's flagship intellectual capital management software. It offers many unique features that will allow organizations throughout Japan to maximize the value of their intellectual capital. This impressive software reflects Verity's extensive experience in developing knowledge management technology, including NEC JTOPIC software."
"Combining Verity K2 Enterprise with NEC's StarOffice21 will result in a highly effective enterprise information portal solution that we look forward to offering to our Japanese customers. Further, the Verity software integrated with NEC's CRM solutions will provide a powerful system that will help ensure consumer loyalty and cost-effective customer service," Shinora said. "NEC looks forward to an ever-strengthening partnership with Verity that brings great benefits to Japanese organizations in both the private and public sectors."
Verity Ultraseek is a downloadable search engine that can be deployed rapidly for organizations of all sizes that need to locate intellectual capital contained in multiple file formats within their enterprises. It provides superior search relevance, with easy, effective administration, proven reliability and extremely low total cost of ownership.
"This is an exciting and important development for Verity Ultraseek customers in Japan," said Kaoru Hayashi, Digital Garage's CEO. "They will be able to take full advantage of the very best in enterprise search solutions. Digital Garage is pleased to be able to work with Verity, the clear leader in this software category, in bringing Verity Ultraseek to Japanese-based customers."
Verity named Digital Garage a premier distributor of Verity Ultraseek software, formerly known as Inktomi Enterprise Search (IES), in Japan earlier this year, shortly after Verity acquired the technology from Inktomi Corporation. That move was made to ensure that current Ultraseek users continue to enjoy the same excellent level of service and support they have come to expect. Digital Garage first introduced the Ultraseek product to the Japanese market in 1997. Since then, the company has been instrumental in the product's success with Japanese customers, including NTT Data, Mitsubishi, Sony and Unisys.
Verity Japan K.K. is located at 15th Floor, Cerulean Tower, 26-1 Sakuragaoka-cho, Shibuya-ku, Tokyo, 150-8512, Japan. More information about Verity Japan K.K. can be found at www.verity.com/japan/index.html.
About Verity
Headquartered in Sunnyvale, Calif., Verity provides software solutions that help organizations maximize the return on their intellectual capital investment by utilizing Verity's industry-leading enterprise search, classification and personalization technologies. Verity software is used for sharing information within and between enterprises; for facilitating e-commerce sales; and for B2B activities on Web-based market exchanges. In addition, Verity technology serves as a core component of many leading e-business applications.
Verity products are used by more than 3,500 organizations in the private and public sectors. Customers include Adobe Systems, AT&T, Bristol-Myers Squibb, Cap Gemini Ernst & Young, Cisco, Documentum, Dow Jones, EDGAR Online, Financial Times, H-P, Home Depot, Lotus, META Group, SAP, Siemens, Stellent, Sybase, Time New Media and Timex.
The statements in this press release regarding the benefits that will result to Verity customers from Verity's establishment of its subsidiary, Verity Japan K.K. and its combination of its software with NEC's software are forward-looking statements that involve risks and uncertainties. Actual results could differ materially as a result of many factors, including: these expectations and beliefs are based on assumptions regarding the demand for Verity's software in Japan that may not prove to be accurate; the risk that integration of the Verity and NEC software will not occur as easily, or at all, due to unforeseen technical difficulties; the risk that changes may occur in the Japanese market and in Japanese customers demands; and the risk that Verity's partners in Japan may cease or curtail their distribution of Verity software. These and other risks relating to Verity and its business and products are set forth under the caption "Risk Factors" in Item 1 of Verity's latest Form 10-K filed with the Securities and Exchange Commission.
For more information, contact Verity at info@verity.com or at World Wide Web site http://www.verity.com or call 408-541-1500.
Verity and the Verity logo are registered trademarks or trademarks of Verity, Inc.
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