BASIS TECHNOLOGY STARTS 2002 WITH STRONG RESULTS FROM 2001
Cambridge, MA, March 4, 2002—Basis Technology (www.basistech.com), the leading provider of globalization solutions, today announced that 2001 was a strong year for the company. New customers included industry leaders such as State Street Corporation, Hewlett-Packard, L.L.Bean, and RightNow Technologies. The company also continued to strengthen its product line with over ten product releases and received industry recognition for its successes by winning Deloitte & Touche’s New England Technology Fast 50, recognizing the 50 companies achieving the highest five-year revenue growth; and the Mass eComm 10 award, recognizing important contributions to e-business.
“Building strong businesses today means building global businesses,” said Carl Hoffman, founder and CEO, Basis Technology. “With the help of our expertise and dedication to their success, our customers realize the benefits of market diversification with the cost and support efficiencies of single-source technology platforms.”
“Basis Technology’s services present a strong value proposition to companies like State Street,” said Richard Napoli, Executive Vice President, Software and Technology Group, State Street Corporation (NYSE: STT). “Relying on their globalization expertise, we leveraged a large investment in IT across our global enterprise—saving millions of dollars in time and resources.”
Basis Technology enhanced its products with increased performance, decreased memory requirements and expanded product functionality. For example, Basis Technology’s Euclid, an OEM software product for detecting languages and encodings of incoming text, now detects over 72 language/encoding pairs—more than any other product.
In addition to new customers, product releases and industry awards, Basis Technology closed its largest financing round with Kyocera Goldman Sachs Venture Capital in May and added additional management experience to their team. John Machonis, Vice President of Sales, and John DiBartolomeo, Chief Financial Officer, joined in November bringing an additional 40 years of business experience, international operations knowledge, and proven leadership skills to the company’s executive team.
“Our 2001 accomplishments position us to maintain our preeminent role in the growing globalization space,” said Benson Margulies, Chief Operating Officer, Basis Technology. “We enter 2002 poised to solve more technology challenges for major software companies, device manufacturers, multinational corporations—anyone who needs to do business on a global scale.”
About Basis Technology
Basis Technology (www.basistech.com) provides software solutions for extracting meaningful intelligence from multilingual text. The company’s Rosette® Platform is a suite of high-performance, highly reliable, interoperable software components designed for applications that analyze and process all the world’s languages.
Top-tier software vendors, content providers, multinational enterprises, and government agencies rely on Basis Technology’s solutions for Unicode compliance, language identification, multilingual search, normalization, transliteration, and entity extraction. Clients include America Online, Convera, Endeca, Google, Hewlett-Packard, InQuira, Inktomi, L.L Bean, Northrop Grumman, PeopleSoft, Siebel Systems, Verity and Yahoo!.
Company headquarters are located in Cambridge, Massachusetts, with branch offices in San Francisco, California; Herndon, Virginia; and Tokyo, Japan. For more information, visit www.basistech.com or call 800-697-2062.