FATWIRE REPORTS 40% INCREASE IN 2008 REVENUE
Web Experience Management Provider Outpaces
Industry Competitors in Year-Over-Year Growth
Mineola, NY – February 18, 2009 -- FatWire Software, the largest privately-held Web Experience Management (WEM) provider, announced that in 2008 the company delivered its strongest year ever, with revenue growth rates far exceeding that of the Web Content Management industry overall. FatWire achieved an astounding 40 percent growth in total year-over-year revenue, reaching $44 million in sales in the year ending December 31st, 2008.
FatWire’s solutions help organizations to build, deploy and manage sophisticated web sites with ease, and to use the web as a primary marketing vehicle to drive customer acquisition, loyalty, and operational efficiencies.
FatWire’s growth in 2008 was fueled by a strong demand across the globe for its products and services. The company realized a 30 percent increase in worldwide license revenue and over 60 percent growth in worldwide professional services revenue from 2007. Meanwhile, FatWire achieved its fourth consecutive year of increasing year-over-year profitability (excluding one-time charges), with earnings before interest, taxes, depreciation, and amortization (EBITDA) exceeding annual targets.
According to the company, FatWire added 50 new customers to its growing roster and exhibited strong customer retention, as evidenced by an approximately 30 percent increase in maintenance renewal activity over 2007. New customers in 2008 include leading organizations across the globe such as Georgetown University, Brazilian Telecom Group (iG), Elsevier Health Sciences, Military.com, La Vanguardia Digital, Practical Law Company, Medavie Blue Cross, Boscolo Tours, Clarion, Pullmantur, Diputación de Alava, Comunidad de Castilla La Mancha, Ministerio de Transportes de Chile, Universidad Autonóma de Barcelona, and Concelló de Lugo.
FatWire also continued to aggressively deliver on its vision for Web Experience Management in 2008 with new releases across its entire product line including:
• A major new release of its flagship FatWire Content Server product (version 7.5) that offers powerful tools for marketers to manage web content and promotions, as well as rich capabilities to help organizations drive efficiencies in the web content management process.
• Launch of the new FatWire Content Integration Platform that enables organizations to put enterprise content stored in disparate repositories at the finger tips of web managers. The launch includes the SOA-based, peer-to-peer content sharing platform, along with packaged connectors to EMC Documentum, Microsoft SharePoint, and file systems.
• A new release of the FatWire TeamUp collaboration and community platform with next-generation features to facilitate the efforts of creative teams in generating content for the web, and to encourage vibrant, online communities to grow.
• Launch of the FatWire Mobility Server solution that provides seamless access to websites powered by FatWire and collaborative spaces via thousands of different mobile device formats.
FatWire also expanded its market reach and capabilities by:
• Introducing new management to advance business opportunities internationally, and manage international sales operations in the EMEA and Asia Pacific regions.
• Extending its global presence through an acquisition of a reseller to allow the company to sell and distribute products in Australia and New Zealand.
“It is exciting to outpace the competition in an industry that experienced approximately 10-15 percent growth in 2008,” said Yogesh Gupta, FatWire president and CEO. “These outstanding results reflect the market’s acceptance of our vision and our focus on delivering high quality products, positive customer experiences, and increased efficiencies. We look forward to continuing to help our customers drive business success and deliver greater ROI in the coming year.”
FatWire Software (http://www.fatwire.com) provides Web Experience Management (WEM) solutions that enable organizations to deliver a rich online experience to users and to simplify management of their web presence. FatWire is headquartered in Mineola, N.Y. and serves over 500 customers from offices in 10 countries.
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