Sopheon PLC Sopheon Expands Customer Foothold in Asia

TIDMSPE

Sopheon PLC

15 May 2019

SOPHEON PLC

("Sopheon" or the "Company")

Sopheon Expands Customer Foothold in Asia

Accolade(R) platform will help Thailand-based GC gain product innovation efficiencies

and enable better portfolio decisions

Sopheon, a global leader in enterprise innovation management solutions, announces the recent award by PTT Global Chemical Public Company Ltd. (GC) to deploy its Accolade Enterprise Innovation Management software out of GC's head office in Bangkok, Thailand. This is Sopheon's latest expansion into the Southeast Asia market and represents further expansion of its growing portfolio of chemical-industry customers. Sopheon's regional partner Prodex Systems - a specialist provider of consulting, training and software implementation services - took the lead in developing the GC relationship and will lead the implementation of the software.

GC is a diversified and comprehensive petrochemical enterprise that manufactures and distributes upstream, intermediate and downstream petrochemical products to serve as feedstock for downstream industries, including packaging, apparel and electronics. As the petrochemical flagship of the PTT Group, GC is committed to strengthening its position in the chemicals business by combining environmentally-friendly innovations with advanced technologies to develop products that improve people's lives.

"In an industry sector as diverse as ours, continual innovation is critical to sustained business success," said Dr. Chaya Chandavasu, Senior Vice President of Science and Innovation for GC. "Given the positive reputation of Accolade among other industry leaders, as well as Sopheon's growing in-market presence here in Asia, we believe that we made a right choice in partnering with the Prodex/Sopheon team to help us bring our new product and process innovations to market more quickly and efficiently than before."

Accolade is Sopheon's proprietary innovation management software that gives business leaders the visibility and transparency needed to understand the future impacts of today's decisions. Accolade has proven its value to thousands of users globally by reducing costs, increasing portfolio value, reducing time-to-market and boosting product/initiative success.

"We have been patient with our development activities to expand into Asia over the past years and are thrilled to see momentum building as evidenced by the acquisition of significant clients like GC. Prodex did an outstanding job developing and landing this foundational Thailand-based company," said Sopheon CEO Andy Michuda.

For further information contact:

 
 Barry Mence (Chairman)                               + 44 (0) 1276 919 
  Arif Karimjee (CFO)                  Sopheon plc     560 
 Carl Holmes/Giles Rolls (Corporate 
  Finance)                                            + 44 (0) 20 7220 
  Alice Lane/Sunila da Silva (ECM)     finnCap Ltd     0500 
 

About Sopheon. Sopheon (LSE: SPE) partners with customers to provide complete enterprise innovation management solutions including software, expertise, and best practices, that enable them to achieve exceptional long-term revenue growth and profitability. Sopheon's Accolade solution provides unique, fully-integrated coverage for the entire innovation management and new product development lifecycle, including strategic innovation planning, roadmapping, idea and concept development, process and project management, portfolio management and resource planning. Sopheon's solutions have been implemented by over 200 customers with over 60,000 users in over 50 countries. Sopheon is listed on AIM, operated by the London Stock Exchange. For more information, please visit www.sopheon.com.

Accolade is a registered trademark of Sopheon

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May 15, 2019 02:02 ET (06:02 GMT)