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Topic: (NASDAQ:OMGA) ,
Headline: Omega Research Doubles Development Engineering Staff; New
Facility in Boca Raton Adds Substantial Capacity for Future Growth
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MIAMI--(BUSINESS WIRE)--Dec. 3, 1999--Omega Research, Inc.
(NASDAQ:OMGA), a leading branded provider of real-time investment
analysis tools for the active trader, today announced that it will
open a new research facility in Boca Raton, FL, to staff up for the
upcoming release of WindowOnWallStreet.com and the expected Spring
2000 launch of TradeStation.com, intended to be the Internet's first
streaming real-time decision support portal for the active trader.
The company, which also has development engineering personnel in
Miami, FL, and Dallas, TX, has, in the last month alone, hired 6
additional development engineers, bringing the company's total
development engineering staff to nearly 40 employees, more than twice
the number of just two months ago.
The new 6000-sq. ft. Boca Raton facility at 901 Yamato Road will
initially house a half dozen engineers, but can accommodate more than
30 engineers as the business grows. The company said the move was made
in part to enable Omega Research to draw upon the best engineering
talent from the tri-county area (Dade, Broward, and Palm Beach
counties).
Bill Cruz, co-chairman of the board and co-chief executive
officer of Omega Research, said, "The addition of the Boca Raton
facility gives us substantial capacity for future growth. The needs of
our customers, the explosive growth in on-line trading and growing
demand for real-time information all point to strong anticipated
demand for TradeStation.com. Today's active traders and investors need
a sophisticated decision support tool that will help them translate
real-time market information into more profitable trading decisions.
TradeStation.com, the browser-based version of our powerful
TradeStation software, should do all that and more."
About Omega Research
Founded in 1982, Omega Research, Inc. is a leading branded
provider of real-time investment analysis tools for the active trader.
In 1991, the company's pioneering flagship product, TradeStation(R),
gave traders and investors the ability to test the historical
profitability of their investment strategies and to use those
strategies to generate real-time buy and sell signals.
In October 1999, Omega Research acquired Window On WallStreet and
its Financial Data Cast Network, one of the industry's premier
streaming real-time data delivery solutions. Omega Research will
shortly re-launch WindowOnWallStreet.com, a competitively priced,
subscriber-based Internet tool for traders and investors who need only
streaming real-time quotes, charts and news.
Next spring, Omega Research intends to launch TradeStation.com,
which the company believes will be the Internet's first decision
support portal dedicated to serving the needs of the active trader.
TradeStation.com will combine all the power of TradeStation with
streaming real-time delivery of market information in a fully
integrated browser-based Internet application. Omega Research intends
to support the launch of TradeStation.com with aggressive advertising
and use the company's experienced direct sales force to market it to
active traders.
TradeStation.com may also be offered to third party partners as a
business to business solution.
The company's principal products currently include
TradeStation(R), OptionStation(R), RadarScreen(TM), and Omega Research
ProSuite(TM).
Visit the Omega Research web site at www.omegaresearch.com.
This press release contains statements that are forward looking
and are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. When used in this press
release the words "believes," "plans," "estimates," "expects,"
"intends," "anticipates," "may," "will," "should," "could," "upcoming"
and similar expressions are intended to identify forward-looking
statements. All forward-looking statements are based largely on
current expectations and beliefs concerning future events that are
subject to substantial risks and uncertainties. Actual results may
differ materially from the results suggested herein and from the
results historically experienced. Factors that may cause or contribute
to such differences include, but are not limited to, the company's
ability to effectuate its Internet strategy and to develop and market
the products and services described in this press release (and the
costs associated therewith), their acceptance in the marketplace,
technical difficulties or errors in the products and/or services,
unfavorable critical reviews, increased competition, the level of
market demand for real-time decision support tools, real-time data
and/or on-line brokerage services and/or website services generally,
the scalability, performance failures and reliability of the Financial
Data Cast Network, the extent to which the new business model impacts
net software licensing fees, the entrance of new competitors into the
market, the impact that the transition to a subscription-based
Internet business model may have on the company's current customer
base, financial statements (the level of returns and bad debts on
current receivables) and existing business relationships, the
company's ability to develop relationships with third parties to
execute its business-to-business strategy, timing and significance of
additional new product introductions by the company and its
competitors, the level of product and price competition, general
economic and market factors, including changes in securities and
financial markets, results of operations for the remainder of the 1999
fourth quarter and year 2000 (and the impact that this press release
may have on those results), the adequacy of working capital, cash
flows and available financing to fund the new business model, and
other risks and uncertainties indicated from time to time in the
company's filings with the Securities and Exchange Commission
including, but not limited to, Omega Research's December 31, 1998
Annual Report on Form 10-K, as well as other press releases.
CONTACT: Omega Research, Inc., Miami
Investor Relations:
Gregg F. Stewart
Chief Financial Officer,
Vice President of Finance & Treasurer
305/485-7004
KEYWORD: FLORIDA
INDUSTRY KEYWORD: SOFTWARE TELECOMMUNICATIONS NETWORKING
INTERNET
Today's News On The Net - Business Wire's full file on the Internet
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URL: http://www.businesswire.com
Copyright 1999, Business Wire
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