Chelmsford's Datawatch Expands Asia-Pacific Presence
Datawatch Corp. was founded in the MetroWest community of Chelmsford 25 years ago, but it's been branching out internationally ever since.
The publicly traded company, which makes business report analytics software under the product name Monarch, just opened an office in Singapore. It's the second Datawatch location in Asia – the company acquired a Philippines R&D location in 2004 after it bought Mergence Technologies Corp.
Singapore is the company's fifth international location. Others include London, Sydney and Munich.
The new office will serve as a regional headquarters for the southern and northern Asia market as well as Japan. Those are growing markets, Michael Morrison, CEO of Datawatch, said in a statement.
"More and more enterprises throughout the Asia-Pacific region are recognizing the need to analyze and optimize all types of information, including structured, semi-structured and unstructured data, to improve and enhance their business," he said.
Nearly one quarter of its revenues come from international sales, according to filings with the Securities and Exchange Commission.
Mining What You've Got
Many companies have thousands of reports and documents stored on their servers in formats ranging from PDF files to text and HTML files.
Datawatch's platform allows companies to mine those myriad documents and analyze and visualize the information contained within. A number of major companies use its products, including HSBC, Microsoft, UBS and Lowe's, according to Datawatch. The company has issued more than 500,000 licenses for its software.
By its own account, Datawatch occupies a unique niche in the market, with "few direct competitors," according to its list of risk factors on file with the SEC.
And the company has growth on the mind. Morrison, who was hired last year, said in January that he plans to "drive aggressive growth and increase shareholder value."
At the time, the company had recently completed a deal with a Fortune 100 company that was the biggest in Datawatch's history. It did not name the company.
Like many companies, Datawatch experienced a downturn during the recession. Revenues remain down from the early-to-mid 2000s.
But things seem to be looking up lately, with income back in the black after a nearly $5 million loss in 2009.
Revenues have nearly doubled in the first six months of the year to $8.4 million compared to the same period in 2011. And profits are $937,000 so far, a big upswing from a loss of $287,000 at the same point last year.
Indeed, 2012 could be a big rebound year.
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