K2 strengthens investment in Greater China

June 6 — SourceCode Technology Holdings, Inc. strengthened its investment in Asia this week by establishing a WFOE (wholly foreign-owned enterprise) in Shanghai and two new subsidiaries in Hong Kong and Taipei.

In addition to its main office in Shanghai, SourceCode, doing business as K2, now has satellite offices in Beijing, Shenzhen, Guangzhou, Hong Kong and Taipei to support more than 60 customers in the Greater China region.

“This is an area of the world with a dynamic and growing market,” says TAN Choon Ngee, K2 regional director in Greater China. “It’s an exploding economy, and K2-based solutions offer companies the ability to swiftly adapt their applications to capture opportunities ahead of the competitors.”

K2 provides the software platform that enables developers and business users to work together and assemble dynamic business applications from reusable items. It is built on .NET 3.0 and integrates with Microsoft technology.

K2 has had a successful presence in Greater China since 2005 and decided to increase its investment there in order to grow its customer base and to ensure excellent support of its current clients, according to KOH Weng Him, K2 vice president for Asia Pacific. K2 hopes to increase its staff base in these China offices from its current roster of 35 employees to at least 50 in the next two years, he says.

"K2’s global presence and its continued investment and focus in the Greater China region is very much welcomed,” says Mi Danning, assistant vice president, Shanda Interactive Entertainment Limited (Nasdaq: SNDA), a leading interactive entertainment media company in China. “K2 is now our core BPM platform. To date, we have implemented 40 processes in various areas of our business such as finance, operations and human resources. We will continue to work closely with K2 to develop more innovative use of the K2 platform to solve our business problems and adapt to the changes more quickly.”

K2 provides the platform for a new generation of users to collaboratively assemble dynamic business applications from reusable items. K2-based solutions are deployed by a growing number of the global Fortune 100, and since the release of its first software in 2000, K2 has helped clients in more than 40 countries increase profitability and productivity. K2 is a business unit of SourceCode Technology Holdings, Inc., based in Redmond, Washington, and has offices in Australia, Canada, China, France, Germany, Singapore, South Africa, the United Kingdom and the United States.

Copyright © 2007. SourceCode Technology Holdings, Inc. All rights reserved. Patents pending. SourceCode, K2 and K2.net are registered trademarks or trademarks of SourceCode Technology Holdings, Inc. in the United States and/or other countries. The names of actual companies and products mentioned herein may be the trademarks of their respective owners.