BRNO, Czech Republic and SAN MATEO, California, January 16, 2012 /PRNewswire/ --

NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP software suites, today announced it has been awarded the title of Investor-of-the-Year 2010 by CzechInvest, in cooperation with the Ministry of Industry and Trade of the Czech Republic and the Association for Foreign Investment (AFI). NetSuite topped the IT and Business Support Services category, being recognized for its continued investment in the country, including the creation of over 130 new jobs.

The Investor-of-the-Year awards are organized annually by CzechInvest, the Czech Republic's Investment and Business Development Agency.  The winners were selected by an expert committee comprising representatives from the Ministry of Industry and Trade, the Ministry of Labour and Social Affairs and the AFI, in addition to CzechInvest. NetSuite won the award in the IT and Business Support Services category, which also included IBM and FNZ. The ceremony took place on 1st November 2011, with the awards being presented by Martin Kocourek, Minister of Industry and Trade, and Miroslav Křížek, CEO of CzechInvest.  For more information on the awards, please click here.

NetSuite opened its Cloud Development Center in Brno in November 2010, becoming Europe's first dedicated center focused on the development of cloud-based business management software suites. Brno is the Czech Republic's second-largest city and has become a key destination for high-tech companies seeking qualified talent and a friendly, inviting atmosphere in Central Europe. NetSuite is based at The Triniti Office Center in Brno's South Center.

"This award further demonstrates NetSuite's commitment to deliver global business solutions and support the local economy in Brno," said Zach Nelson, CEO, NetSuite. "The Brno Cloud Development Center has become an integral part of the engineering and development across NetSuite's product offering since it opened in 2010, and we are continuing to invest in this center to meet the global demands for our cloud-based offerings."

Today, more than 10,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite has established itself as the leading provider of enterprise-class cloud ERP suites for divisions of large enterprises and mid-sized organizations seeking to upgrade their antiquated client/server ERP systems. NetSuite excels at streamlining business operations. As demonstrated by a recent Gartner study naming NetSuite as the fastest growing financial management systems vendor in the world, NetSuite has continued its success in delivering the best cloud business suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud is accelerating.

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For more information about NetSuite, please visit http://www.netsuite.com.

NOTE: NetSuite and the NetSuite logo are service marks of NetSuite Inc.

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SOURCE NetSuite Inc.