Array is the first foreign company listed on Taiwan Emerging Stock Market
MILPITAS, CA - May 13, 2009 -Silicon Valley based Array Networks, a global leader in enterprise secure application delivery and universal access solutions, announced today that it has completed the listing process with the Taiwan (GreTai) Emerging Stock Market. Array will be traded under the ticker symbol: 3664. The lead investment bank for the transaction is ChinaTrust.
Array is the first foreign company to be listed under a policy passed by Taiwan in 2008 to encourage “foreign businesses” to list in Taiwan. The goal of the plan is to help facilitate the synchronization of these “foreign businesses” with Taiwan’s capital markets to fulfill the local investors’ diversified needs.
“It is very exciting for Array to qualify as the first foreign company to be listed in Taiwan,” said Michael Zhao, Chief Executive Officer at Array Networks. “We are pleased that investors in Taiwan have recognized our strong global growth and profitable earnings. Our company would not have achieved this milestone without the full support and innovation of Array’s employees, partners, customers and investors.”
“The Taiwan Stock Markets provide a great alternative platform and cost effective opportunity for profitable emerging technology companies, like Array Networks, to raise capital,” said Robert Shen, Chairman of Array Networks and Managing Director of H&Q Asia Pacific.
“We are pleased to observe this exciting and promising new trend in Taiwan to open up its financial markets to foreign companies,” said Dr. Ta-lin Hsu, Chairman of H&Q Asia Pacific. “The timing of Taiwan’s move towards liberalizing its capital markets is especially welcomed by foreign investors and the private equity community in light of the relatively illiquid global IPO market. As a lead investor in Array Networks, H&Q Asia Pacific is pleased to be at the forefront of this trend.”
Many of the world’s leading enterprises in the financial services, telecommunications, healthcare and government sectors have adopted Array solutions to help secure and optimize their global access and delivery application infrastructure. Today, Array solutions are serving thousands of terabytes of global secured data on a daily basis.
Array’s SPX Series Universal Access Controllers (UAC) provide high performance secure access with scalability, low latency and reliability. Array’s APV Series Application Delivery Controllers (ADC) improve the availability, security, and performance for enterprise applications and Web sites while reducing cost and complexity. Array is the number one market share leader in China in 2008 and has solid leadership in many other global markets. Array has developed many innovative technology solutions such as DesktopDirect, SiteDirect, SpeedStack and SpeedCore that have been a driving force behind providing security, access control and performance for many enterprises and web sites.
Founded in 2000, Array Networks is a global leader in enterprise secure application delivery and universal access solutions for rapidly growing SSL VPN and application acceleration markets. More than 3,000 customers worldwide - including enterprises, service providers, government and vertical organizations in healthcare, finance, insurance and education - rely on Array to provide anytime, anywhere secure and optimized access. Industry leaders including Deloitte, Red Herring, and Frost and Sullivan have recognized Array as a market and technology leader.
Vantage Communications for Array Inc.
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