• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Persistence Software Announces New Business Partner Alliance With Shanghai Data Solutions Co., Ltd.

Posted on: Thursday, 21 August 2003, 06:00 CDT

SAN MATEO, CA -- (MARKET WIRE) -- 08/21/2003 -- Persistence® Software (NASDAQ: PRSW), the leading provider of real-time data services software, today announced a partnership agreement with Shanghai Data Solutions Company, Ltd. (SDS), a leading provider and systems integrator for network and communications services in Shanghai, China. Persistence and SDS have agreed to work jointly to provide high performance and scalable data services solutions to outsource suppliers of China’s largest financial trading systems.

Chris Keene, Persistence’s CEO, commented, “This strategic partnership creates a win-win scenario for both Persistence and Shanghai Data Solutions. Such arrangements allow Persistence to provide its unique data services solution to a company like SDS that is an expert at developing and integrating multiple technologies for the benefit of large and diverse clients. SDS has introduced Persistence’s technologies to four of the top Chinese software corporations, entities that provide outsourcing IT solutions for 90% of China’s financial trading institutions. I am excited at this partnership and think the possibilities of supporting the emerging Chinese market have significant potential.”

“Caching and cache synchronization are critical technologies required to deliver cost effective, high performance and high availability systems that are also scalable for China’s IT industry,” commented JianFeng Zhang, General Manager, Shanghai Data Solutions. “The opportunity within China’s IT industry is significant. Persistence has the technology and the proven track record with major U.S., United Kingdom and European based financial institutions to help SDS deliver mission-critical applications that have complex, globally distributed data that require stringent accuracy and response times.”

Persistence data tools and services, protected by seven patents, have helped well-known companies achieve breakthrough performance, scalability and productivity. A leading US-based capital markets financial institution has used Persistence products to build a Data Services Architecture for its equity trading systems. This global institution requires instant and accurate information across 40 different trading applications and three data centers processing more than $8.5 billion in trades daily. With its Persistence-supported Data Services Architecture, this customer is able to deliver information efficiently across every trading application and location. Their capacity has been increased by over 200% and now has the ability to support unlimited growth in volumes because of business expansion, mergers or acquisitions. Mainframe utilizations costs have been cut by $2 million per year with a significant improvement in the accuracy and timeliness of all data.

Mr. Keene concluded, “We respect the expertise of SDS, and are confident their well trained engineers can rapidly assimilate our technology into their comprehensive product offerings and present our Data Services solutions to China’s software vendors that are building the securities trading systems for the key financial trading institutions.”

ABOUT SHANGHAI DATA SOLUTIONS

Shanghai Data Solutions Co., Ltd. (SDS) is a Hi-Tech Information Technology Company co-invested by Shanghai Telecom, Shanghai Zhangjiang Hi-Tech Park Development Corp.,Guotong Telecom, DaZhong Transportation (Volkswagen Ltd. Shanghai Branch), ZiJiang (Group) and PuDong Network. Five out of the six investors are public listed companies in China Stock Market.

Positioning itself initially in the telecom operation business, SDS is mainly involved in data communication, network access, information value added services and software development. SDS’s software products include the management software and e-commence application software for companies that are targeting at the managing demands of Chinese companies and providing services through Internet. SDS also provides consultants and technical services for software development and integration.

As one of the leading providers for network and communication services in Shanghai, SDS has set up a broadband network covering the whole Shanghai area via ATM mode. The ATM has been fully set up, tested ,is operational and has been proved to be of high quality.

SDS has set up partnerships with the largest telecom operators in China, including China Telecom, XinTian, China Unicom, China JiTong, China Railcom. Additionally, SDS has agent relationships with Microsoft, NOKIA, CHECKPOINT, IBM, CISCO, Microsoft, and Computer Associates.

ABOUT PERSISTENCE

Persistence Software provides to Global 2000 companies the Data Services infrastructure to create real-time, highly scalable applications without incurring the high costs of additional hardware and replicated databases. Data Services addresses a critical need for most global companies to eliminate costs from their highly fragmented data infrastructure by creating integrated and synchronized data across the enterprise.

Founded in 1991, Persistence is a publicly traded company (NASDAQ: PRSW) with a large, established customer base. Over the past 11 years, Persistence pioneered the core data services technologies and has been awarded seven caching and mapping patents, some of which have been licensed to Sun and Cisco Systems. Persistence data services solutions power some of the world’s most demanding applications, including those of Citigroup, Prebon Yamane, Reuters, FedEx, NetJets, Eurocontrol and Sabre. Please visit www.persistence.com for more information.

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements involving risks and uncertainties, which could cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, Persistence Software's limited operating history, potential fluctuations in our operating results, our potential need to raise cash in the future, uncertainties related to our long sales cycle, our reliance on a relatively small number of customers, our dependence on the Java programming language and the Enterprise JavaBeans standard becoming widely accepted standards, failure to manage our resources or attract and retain the services of key employees, our need to deliver products that are free of defects and errors and meet rapidly changing technology standards and customer requirements, our need to build a strong direct sales team and develop third party sales channels, our dependence on enterprise-wide system deployments, and our need to address competition from companies with substantially greater resources. Further information regarding these and other risks and uncertainties is included in our Annual Report on Form 10-K for the year ended December 31, 2002, the Form 10Q for the quarter ended June 30, 2003 and in our other filings with the Securities and Exchange Commission.© 2001 Persistence Software Inc. Persistence currently holds U.S. Patents Nos. 5,499,371; 5,615,362; 5,706,506; and 6,078,926. All other product, trademark, company, or service names mentioned herein are the property of their respective owners.

Contact: Lesley Daley

Company: Persistence Software, Inc.

Phone: 650-372-3696

Email: lesley.daley@btopenworld.com

Phone: 866-875-1905

Contact: Ana Bolitho

Company: Kaizo

Phone: + 44 (0) 20 7580 8852

Email: ana.bolitho@kaizo.net

Contact: Liz Barrass

Company: Kaizo

Phone: + 44 (0) 20 7580 8852

Email: liz.barrass@kaizo.net

Contact: Joe Diaz

Company: RCG Capital Markets Group, Inc.

Phone: 480-675-0400

Contact: Joe Dorame

Company: RCG Capital Markets Group, Inc.

Phone: 480-675-0400

More News in this Category