BVRP SOFTWARE CHANGES NAME TO AVANQUEST SOFTWARE, UNIFYING OPERATIONS UNDER ONE GLOBAL BRAND
Initiative Establishes Clear Global Identity for Software Developer and Publisher,
Following Period of Both Internal and Acquisition-based Growth and Expansion
BVRP Software, a worldwide developer and publisher of mobility, productivity and utilities software, unveils a new, unifying global identity with the announcement of a corporate name and branding change to Avanquest Software.
The Avanquest Software name change and unification of company operations under a single global brand follows a sustained period of acquisition-based and internal growth and responds to the successful use of the Avanquest brand by company subsidiaries, including Avanquest UK formerly Kommunicate, Guildsoft and Media Gold, acquired and rebranded in 2004 as the group’s software publishing division.
Avanquest Software’s new name will allow the organisation to continue its recent period of global expansion and growth of revenue via its owned IP Mobility, Productivity and Utilities divisions and its strengthened software publishing division, to be known as Avanquest Publishing under the new global branding initiative.
“As we enter a third decade of successful operations, the new Avanquest Software name and identity are emblematic of a changed company that has experienced tremendous growth through success of its internally developed software and also through acquisition and diversification in the global consumer marketplace,” said Bruno Vanryb, BVRP’s founder, chairman and CEO.
“We are proud to unfurl Avanquest Software as the new corporate banner, leading our three product divisions, our software publishing business and our worldwide subsidiaries forward with our expansion and growth plans for 2005 and beyond,” Vanryb said.
On March 21, 2005, the company posted the best annual financial results of its 20-year history, with FY-04 annual sales jumping 17% to $74 million (€ 57M), accompanied by a year-on-year increase of 75% in operating income to €6.9M, or 12.1% of total sales. At the same time, net earnings per share tripled during 2004 to reach €0.65, as compared to €0.22 in 2003.
The hallmark of Avanquest Software’s recent growth has been its global expansion and diversification of revenues. Headquartered in Paris, where the company has been listed since 1996 on the Euronext stock exchange, Avanquest Software today operates European subsidiaries in France, Germany, Spain and the U.K. It recently established new Asia-Pacific offices in Korea and China and nearly 50% of total revenues during 2004 derived from the U.S. market, where the group’s Mobility, Utilities, Productivity and OEM divisions are based.
On March 21st, concurrent with its posting of record financial performance for 2004, Avanquest Software also unveiled its expansion into Asia, with the launch of new China and Korea business units, strengthening of its Shanghai R&D center’s work across all software product lines and appointment of a new director for the group’s Asian OEM software division, Nana Kurosawa, who works from the Pleasanton offices. The Asia expansion news followed on the heels of the Feb. 1st acquisition of Silicon Valley-based VCOM, which strengthened Avanquest Software’s presence in both the U.S. and in the global PC utilities software market.
About Avanquest Software
Avanquest Software is a global developer and leading publisher of best-selling personal and professional software designed for utilities, office productivity, communications and mobility worldwide. Headquartered in France, with operating units, subsidiaries and offices located in United States, France, Germany, Great Britain, Spain, China and Korea, Avanquest Software products are marketed in over 100 countries, through e-commerce, OEM partnerships and IT resellers. Founded in 1984 as BVRP Software and listed since December 1996 on Euronext (ISIN FR0004026714), Avanquest Software forms part of the Eurolist, NextEconomy segment and SBF 250 index. In 2004, Avanquest Software posted record financial results, with revenue of €57.0M ($72.0M), operating income of €6.9M ($8.7M) and a net income of €5.3M ($6.7M). Additional information on Avanquest Software is available at www.avanquest.com.
Alison Hall, Public Relations
Tel: 07899 986932
Tel: 01962 835053
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