|Wednesday, December 23, 1998||< Prev||Next >|
SEATTLE, Dec. 23 /PRNewswire/ — Visio Corp. (Nasdaq: VSIO), the worldwide leading supplier of business diagramming and technical drawing software, today announced that it plans to expand its headquarters into a second building in the new World Trade Center development on Seattle's waterfront in July 2000. As the anchor tenant for the complex, Visio will lease 184,000 square feet in the World Trade Center East building and 133,000 square feet in the north building. The firm currently employs 376 people locally.
Last January, Visio signed a 10-year lease agreement with Wright Runstad & Co. to occupy the entire east office building of the Port of Seattle's World Trade Center complex in February 1999. Today the company announced the exercise of its option to lease a second building in the complex, World Trade Center North, and it plans a phased move starting in July 2000.
"Leasing a second building in the World Trade Center extends our strong commitment to the city of Seattle and our equally strong commitment to Visio's growth," said Jeremy Jaech, president and CEO of Visio. "And with this commitment, we are also restating our pledge to the Belltown neighborhood by committing additional resources to the area."
With its move to the second building, Visio is extending its commitment to the local community with a challenge grant. The firm is pledging to match one dollar for every two dollars that the neighborhood contributes to the Bell Street Connection (formerly the Bell Street Improvement Project) — up to $11,000 per quarter starting in June 1998, for a total of up to $66,000 by the end of 1999. The Bell Street Connection is intended to enhance the surrounding area and unite the Belltown neighborhood with Seattle's waterfront.
At the time of its original World Trade Center move announcement, Visio contributed $10,000 to the Bell Street Connection. The company also committed $4,000 in contributions to both the Noel House, an emergency shelter for homeless women, and the Rose of Lima House, a transitional housing and support service for homeless women. Both organizations are in the Belltown neighborhood.
Neal Myrick, Visio's director of worldwide information technology and facilities, will also represent Visio on the Denny Regrade Business Association Board in 1999.
Visio has grown in eight years from a fledgling startup to a $160 million international company with offices in 11 countries and more than 575 employees. During fiscal 1998, the firm experienced 53 percent new employee growth. Visio has shown solid financial performance for 14 straight quarters, with a growth rate exceeding 60 percent for the past three years. Revenues for 1998 were $166 million, a 65 percent increase over fiscal 1997. The company's installed base of more than 2.5 million Visio users worldwide has been growing 10 percent per quarter; during fiscal 1998, Visio added 874,000 new users.
Visio's customers are general business users, engineers and information technology professionals who represent a variety of industries: aerospace (The Boeing Co.); automotive (BMW AG); banking (First Union Bank, Chase Manhattan Bank and Wells Fargo); chemicals (Nalco Chemical Co. and Dow Corning); consumer products (Avon Products Inc., Nike Inc. and Coca-Cola Co.); petroleum (Chevron); telecommunications (GTE Communications Systems, Bell Atlantic); utility companies (Pacific Gas & Electric, Duke Power); and wood and paper products (Weyerhaeuser Co., Boise Cascade Corp.).
Visio Corp. is the leading supplier of enterprisewide business diagramming and technical drawing software, with an installed base of over 2.5 million users worldwide. Founded in September 1990, the Seattle-based company pioneered the drawing and diagramming software market with the release of Visio 1.0 in November 1992 and has since released additional Microsoft Windows-based graphics applications that offer users a unique and effective way to communicate and work. Visio's powerful product line is becoming a worldwide standard for graphical solutions in business, with the support of partner programs and third-party relationships in key market segments. Visio products are available in as many as 12 language versions and are sold in more than 45 countries.
For more information about Visio Corp. and its products, customers can contact Visio at 800-24-VISIO (248-4746), ext. 93W, or visit the company's Web site at http://www.visio.com/.
NOTE: Visio is a registered trademark of Visio Corp. in the United States and/or other countries. All other trademarks, trade names, or company names referenced herein are used for identification only and are the property of their respective owners.