Wednesday, January 11, 2006
TIS Subsidiary Gaining Momentum
It looks like Top Image Systems 2004 acquisition of Japanese reseller Toyo, Inc, is starting to pay off. TIS Corporate recently reported that TIS Japan would account for 20% of the company's revenue in 2005. Through the first three quarters of 2005, TIS had reported 63% growth over 2004, and a conservative estimate would place its 2005 corporate revenue at $16 million. This means TIS Japan accounted for a little over $3 million with TIS counting on it to grow to more than $5 million in 2006.