IXOS Software AG, the German document management software company that concentrates on selling its software to customers of SAP AG ERP systems, claims its US business will outstrip domestic sales within three-to-five years. International business outside of Germany already accounted for 45% of iXOS’s revenues last October, when the company filed for simultaneous listings on the Neuer Markt in Frankfurt and the New York Nasdaq exchanges (CI No 3,504). A quarter of its 500 staff were working outside of Germany at that time. But iXOS still sells around half of its software to German customers. Chief financial officer Vijay Sondhi told an audience of investors at the Goldman Sachs Technology Symposium in New York that he expected that level to fall to 20% within five years, according to a Reuters report. SAP AG holds a 10% stake in the company, Goldman Sachs owns 18%, and founders and employees own around 60%. iXOS was founded by Siemens AG executives Hans Strack-Zimmermann and Eberhard Farber in 1988.
IXOS SAYS US BUSINESS WILL OUTSTRIP GERMAN IN 5 YEARS
