Adaptive Planning Announces Partnership With Companies in Okinawa to Promote Open Source Planning and Reporting Solutions in Japan and Asia

Company Hosts Governor of Okinawa After Meeting With Administration of President-Elect Obama

• Press Release
• Source: Adaptive Planning
• On 8:00 am EST, Tuesday January 13, 2009

MOUNTAIN VIEW, CA--(MARKET WIRE)--Jan 13, 2009 -- Adaptive Planning, the worldwide leader in on-demand financial planning and reporting solutions for companies of all sizes, today announced the signing of a letter of intent with a group of Okinawa companies for the promotion of its open source planning and reporting solutions in Japan and Asia. The agreement will promote open source skills transfer between the parties and enhance sales and support of Adaptive Planning's budgeting, forecasting, and reporting solutions in the local Okinawa market, as well as throughout Japan and the rest of Asia.

The agreement is sponsored by the Prefecture of Okinawa as part of a broader development initiative. The Governor of Okinawa, Hirokazu Nakaima, witnessed the signing as part of a trip to the United States to meet with the administration of President-Elect Obama and to promote Okinawa development.

A joint venture company will be located in an Open Source Software (OSS) Center in Shinryo Park, Okinawa, which the Okinawa Prefecture is building for the purposes of promoting the use of open source software in both local companies and businesses throughout Japan and Asia.

"We are excited to partner with Adaptive Planning," said Ken Tamaki, President and CEO of The Okiden Global Systems Company and representative of a group of Okinawa companies promoting OSS. "As a leading developer of open source business applications that is growing quickly and expanding into Japan and Asia, they are a perfect example of the type of company we are looking to attract to our new OSS Center."

"Japan is home to one of our largest customers and is a strategic market for our company," said William A. Soward, CEO of Adaptive Planning. "We are pleased to establish new relationships with both businesses and the government of Okinawa. We look forward to deepening the ties between our company and both the private and public sectors of Okinawa, and to building strong and mutually beneficial partnerships going forward."

The most recent release of Adaptive Planning, version 5.5, supports internationalization and local languages; Japanese language support will be available in the first quarter of 2009.

About Adaptive Planning

Adaptive Planning is the worldwide leader in on-demand financial planning and reporting solutions that improve financial agility, strengthen collaboration, and drive better-informed, more strategic business decisions in companies of all sizes. Adaptive Planning makes it easy to move beyond spreadsheets and automate budgeting, forecasting, and reporting, without the cost and complexity associated with traditional business intelligence and BPM software. With free software, free trials, and both on-demand and on-premise deployment options, Adaptive Planning provides the fastest and easiest approach to streamline and elevate your financial management. Adaptive Planning is headquartered in Mountain View, Calif. and can be reached at 650-528-7500 or www.adaptiveplanning.com.

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