SAN MATEO, Calif. and MUNICH, April 6, 2011 /PRNewswire/ -- SuccessFactors, Inc. (NASDAQ: SFSF), will list its stock on the Deutsche Borse, the NYSE Euronext Paris and the New York Stock Exchange, where it will trade in multiple currencies for 21 hours each day. "This move reflects our obsession with real-time business execution across multiple geographies," said Lars Dalgaard, CEO of SuccessFactors.
"Our customers operate multiple teams across multiple time zones and multiple languages. And so do we," said Dalgaard. "Our ambition is to improve global productivity, with cloud applications that allow complex organizations to align and motivate their people for results. We're the most global cloud company because we have to be to achieve our ambition. From the first day, our customers used the product internationally, operating simultaneously in German, French, English, Japanese and several other languages. Today we unite millions of users from 168 countries in the cloud, harmonizing goals in 34 languages with the flick of a button."
"This move is a positive sign of SuccessFactors' increased commitment to the European market," said Dr. Norbert Kleinjohann, CIO of Siemens AG. "We chose to work with SuccessFactors based on functionality and usability and the provisioning of an integrated solution."
"Lars embodies our global reach," said Bill Harris, a SuccessFactors board member. "A Danish citizen, he speaks seven languages, has homes and offices in both Europe and the U.S., and is hyper-connected around the world and around the clock."
"Europe has been especially welcoming to SuccessFactors and our 'on-demand' philosophy," said Bruce Felt, CFO of SuccessFactors. "We operate six offices in Europe, have local employees in every country, and have customers everywhere from Finland to Italy to Liechtenstein. With a population of 830 million, Europe is a burgeoning market for us, delivering close to 100 percent growth over the past year. We expect to get up to half our sales from Europe over the next decade. With this change, our capital strategy will now align with our corporate strategy – being available to all our investors at any time across the globe."
As the only major cloud company with a dedicated data center in Europe, SuccessFactors has the expertise and technology to address the demographic and market issues that European businesses face. SuccessFactors has main international offices in Paris, London and Munich, where the company has seen substantial growth and development. The company's international revenue is now one third of the business, with the most significant portion of that coming from Europe. SuccessFactors has the single largest cloud deployment in Europe with 400,000 end-users at Siemens.
"As a demonstrated leader in cloud innovation and capital efficiency, we welcome SuccessFactors' decision to join the NYSE Euronext community of listed companies," said Scott Cutler, EVP and Head of Listings, Americas, for NYSE Euronext. "SuccessFactors' move to the NYSE Euronext markets in New York and Paris reflects the increasing popularity of our exchanges among technology companies and the convenience of our fast-path cross listing, which provides an easy, cost-effective way to gain a high-visibility trading presence in both Europe and the U.S. We welcome the opportunity to partner with SuccessFactors and its shareholders."
In early February 2011, Deutsche Borse and NYX announced the intention to combine, subject to regulatory approvals and other customary conditions. Following the successful listing of its shares on these markets, SuccessFactors will be positioned to be the first to take advantage of the transatlantic footprint of the newly combined company. The company expects to transfer from the NASDAQ Global Select market and begin trading on the NYSE in late April 2011. Pending full NYSE Euronext and Deutsche Borse approvals, the company expects trading to begin on the Euronext Paris and Deutsche Borse as soon as late April 2011 under its current ticker symbol "SFSF." The Company will continue to trade on the NASDAQ Global Select Market until the transfer is completed.
SuccessFactors is the leading provider of cloud-based Business Execution (BizX) software solutions to organizations of all sizes, with more than 8 million users across multiple industries and geographies. We strive to delight our customers by delivering innovative solutions, a broad range of content, process expertise and best practices knowledge gained from serving our large and varied customer base. Today, we have more than 3,200 customers in more than 168 countries using our application suite in 34 languages.
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"Safe harbor" statement under the Private Securities Litigation Reform Act of 1995:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are SuccessFactors' current expectations and beliefs.
These forward-looking statements include statements about future growth prospects. Factors that could cause actual results to differ materially from those contemplated by these forward-looking statements include: our ability to retain customers and to experience high customer renewal rates; whether customers renew their agreements for additional modules or users; pricing pressures; the uncertain impact of the overall global economic conditions, including on customers, prospective customers and partners, renewal rates and length of sales cycles; the fact that the business execution market is at an early stage of development, and may not develop as rapidly as we anticipate; risks related to the integration of the acquisitions, including retaining customers and employees and managing geographically-dispersed operations; competitive factors; outages or security breaches; our ability to develop, and market acceptance of, new services; the impact of any discovered product defects or outages; our ability to continue to sell our services outside the HR area; our ability to manage our growth; our ability to successfully expand our sales force and its effectiveness; whether our resellers and other partners will be successful in marketing our products; our ability to continue to manage expenses; the impact of unforeseen expenses, including as a result of integrating acquisitions; and general economic conditions worldwide. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make.
Further information on these and other factors that could affect these forward-looking statements is included in the section entitled "Risk Factors" in our Annual Report on Form 10-K and in our most recent report on Form 10-Q and in other filings we make with the Securities and Exchange Commission from time to time.
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