INTERVIEW - Informix bets on Latin American growth
08:39 PM ET 11/05/98
infobeat.com
By Alejandro Lifschitz
BUENOS AIRES, Nov 5 (Reuters) - California-based Informix
Corp. , the fifth largest database software company in
the world, is making long-term bets on Latin America and hoping
the region's quick growth will translate into profits.
"Latin America is very important for us because of its
strong growth, especially when it comes to Argentina," Chief
Executive Officer Robert Finocchio told Reuters.
"In the last 12 months, Latin America has been the fastest
growing region (for Informix). We will continue to make
long-term investments here because it is a great opportunity
for companies like ours which are trying to grow," he said.
Informix's Latin American sales grew 35 percent last year,
accounting for around 10 percent of total sales of $662
million. It has 250 employees in the region.
Finocchio, in Buenos Aires visiting clients, said the
global financial crisis which has dragged down Latin American
financial markets would not deter Informix's interest in the
region.
"What is going on in Asia is very different from what is
going on in South America," he said in reference to what he
considered solid economic fundamentals in Latin America.
Finocchio said the company's strength in the region was
based on its data warehousing software, which stores consumer
information key to developing sales strategies.
Informix plans to target its software to the
telecommunications, finance, education and health sectors.
The company, which competes with companies like Oracle
Corp. and IBM , reported third quarter net
income of $18.4 million against a $110.5 million loss last
year.
Once the number two company in the market, the firm has
been trying to make a comeback since Finocchio took the helm in
August 1997.
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