Aspen Research opens Thai unit

US-based software developer Aspen Research Group has set up a branch office in Thailand and will cooperate with InfoQuest to provide its stock information and technical-analysis tools for professional investors, with the aim of achieving a dominant 70-per-cent market share next year.

According to John Praetorius, president of Aspen Research, the firm launched its software product Aspen Graphics on the Thai market in 1990 and still sees the country as having great potential. The firm set up a branch office in Thailand early this year to provide sales and technical support for business partners and customers.

The company uses a direct-sales marketing strategy for Aspen Graphics here. The software comes in two versions: Aspen for Windows, targeting brokerage firms and professional investors, and Aspen for Browser, targeting individual investors.

Business partner InfoQuest provides data content and software to more than 10 brokers, with market share of about 40-60 per cent, and expects this to rise to 70 per cent next year.

"We aim for top market share in every segment in Thailand by mid-2013 and want to expand our business into [new] Asia-Pacific markets next year. Vietnam will be the first, followed by Malaysia and Indonesia," Praetorius said.

Jalthong Patamapongs, chairman of InfoQuest, an information service provider, said the firm did not provide Aspen stock analysis software to investors and professional investors. The firm plans to provide its new software solution, IQ Stock Pro, which provides stock information via mobile devices to the domestic market, in the next couple months.