CLSA deploys VERITAS application management software and cuts problem resolution from three days to 10 minutes
MOUNTAIN VIEW, Calif. - February 22, 2005 - VERITAS Software Corporation (Nasdaq: VRTS) today announced that CLSA Ltd. has standardized on VERITAS i³™ application management software to quickly identify and resolve application performance issues, helping ensure its employees have rapid access to critical trading data and customer information.
CLSA is an award-winning brokerage, investment banking and private equity group focusing on the Asia-Pacific markets. In 2004, CLSA was voted number one for overall equity research and brokerage services in Asia in a major industry poll. The company employs more than 750 professionals across Asian and international financial centers.
Andrew Yu, CLSA's Head of IT Infrastructure, says ensuring applications run at peak performance is critical to the firm's daily business operations. CLSA's infrastructure contains an extensive financial research database, brokerage transactions, settlement systems and other internal functions that are business critical - CLSA cannot tolerate downtime. The company's back-end applications and databases must be highly available with optimal response times to ensure traders can respond quickly to market developments.
"Our trading system is the heart of our business and application performance issues can quickly translate into lost revenue," says Yu. "VERITAS i³ software allows us to simultaneously compare performance and availability characteristics of complex applications to attain the highest performance service levels for our business-critical applications."
Prior to implementing VERITAS i³ software, CLSA had to interrupt access to its database whenever a performance issue arose. Because the firm's employees must react quickly to market developments, this was unacceptable. After deploying and using VERITAS i³ software for just three months, CLSA is now able to pinpoint and correct database performance issues in real-time with no interruption to its database or trading operations.
"Using VERITAS software, we've seen a tremendous reduction in the average time needed to fix a performance bottleneck - from three days to 10 minutes," says Yu. "Now we rely on VERITAS i³ software to get to the bottom of performance bottlenecks in real time, without having to take our critical applications offline. Our previous approach was based largely on trial and error, and proved to be quite costly. VERITAS i³ software simplifies and consolidates the management of complex applications so we can proactively drill down to resolve availability and performance issues before they impact our traders and customers."
VERITAS i³ software provides CLSA with unparalleled performance analysis and monitoring capabilities. "We evaluated other products that looked similar on the surface, but they were not going to help us address our issues as deeply as VERITAS i³," adds Yu. "VERITAS uniquely probes into shared memory and monitors the timing of individual SQL statements across the database. We could not find this combination of features in any other vendor approach and it was a distinct advantage for us."
About VERITAS Software
VERITAS Software, one of the 10 largest software companies in the world, is a leading provider of software and services to enable utility computing. In a utility computing model, IT resources are aligned with business needs, and business applications are delivered with optimal performance and availability on top of shared computing infrastructure, minimizing hardware and labor costs. With 2004 revenue of $2.04 billion, VERITAS delivers products and services for data protection, storage & server management, high availability and application performance management that are used by 99 percent of the Fortune 500. More information about VERITAS Software can be found at www.veritas.com
About CLSA Asia-Pacific Markets CLSA is an award-winning brokerage, investment banking and private equity group in the Asia-Pacific Markets. Founded in 1986 and headquartered in Hong Kong, CLSA is a unit of France's Credit Agricole, which merged in 2003 with Credit Lyonnais, to form the 4th largest bank in the world by assets and the 2nd largest bank in the world by Tier One capital. CLSA enjoys substantial staff ownership which contributes to its independent stance and operations.
CLSA has over 750 dedicated professionals spread across all Asian and international financial centres. Recognised as one of the top research, sales and execution houses in Asia, CLSA is known for its innovative and independent research. In 2003, the CLSA expanded its brand to Japan, offering Japanese equity research and sales services to international investors.
CLSA has been voted the No.1 Brokerage House for Research and Sales by Asiamoney's Brokers Poll 2004. CLSA is consistently ranked No.2 overall in other major industry polls including Institutional Investor's All-Asia Research Poll 2004 and The Asset's Asian Equities Benchmark Survey 2003 and named as the 'Most Independent Research Brokerage House in Asia'. Additional information is available at www.clsa.com
For More Information Contact:
Gina Sheibley , Corporate Communications , VERITAS Software
(650) 527-2589 , email@example.com
Sheila Tran , Corporate Communications , VERITAS Software
(650) 527-4763 , firstname.lastname@example.org
Grace Hung , Head of Communications , CLSA Asia-Pacific Markets
(852) 2600 8318 , email@example.com
Tim Harvey , Investor Relations , VERITAS Software
(650) 527-4523 , firstname.lastname@example.org
This press release may include estimates and forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. These forward-looking statements involve a number of risks and uncertainties, including the risk that we will not gain market acceptance of our products and services, the risk that we will not be able to maintain the quality of our end-user customer and partnering relationships and the risk that we will not manage our business effectively, that could cause the actual results we achieve to differ materially from such forward-looking statements. For more information regarding potential risks, see the "Factors That May Affect Future Results" section of our most recent annual and quarterly report on file with the SEC. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date hereof.
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