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Metastorm Growth and Leadership Continue
Global Enterprise Software Vendor Delivers Strong Q3 Financial Results
BALTIMORE, MD - November 19, 2008 - Metastorm, a leading provider of Business Process Management (BPM), Business Process Analysis (BPA), and Enterprise Architecture (EA) software for aligning strategy with execution, today announced financial results for its third quarter ending September 30, 2008. The privately held company posted record revenues, record profitability and reported a continued increase in enterprise-wide deployments of its software. Metastorm experienced 22% growth in total revenues year-over-year on a proforma basis, and recognized a 50% increase in software license revenues from the same quarter last year.
Metastorm added 44 new customers to its portfolio in Q3, including DISH Network (U.S.), Johnson Controls (U.S.), PSCU Financial Services (U.S.), Rompetrol (Romania), Sec Servizi (Italy), Stanley Works (U.S.), Tops Markets (U.S.), and U.S. DHS Transportation Security Administration (U.S.). Existing customers expanding their use of Metastorm software included AMEC Group (U.K.), Banca Populare di Sondrio (Italy), Channel 4 Television (U.K.), Defense Information Systems Agency (U.S.), DHL Express (U.S.), Excellus Blue Cross Blue Shield (U.S.), Linklaters (U.K.), and U.S. Army (U.S.). Strong adoption rates and large enterprise license deals enabled Metastorm to post profitable growth for the quarter.
In August 2008, Metastorm successfully completed the integration of Metastorm Discovery™ - the software acquired through Metastorm's acquisition of Spotlight Data in December 2007 - with the Metastorm ProVision® enterprise modeling and business process analysis suite. Metastorm Discovery has become a key component of Metastorm ProVision, giving customers a formal tool to support process discovery and data capture on "as-is" processes which can then be analyzed and improved in Metastorm ProVision to eliminate inefficiencies, improve productivity and increase operational effectiveness.
Metastorm continued to receive strong external leadership recognition in the quarter. Metastorm ProVision was positioned in the Leader quadrant of the "Gartner Magic Quadrant for Business Process Analysis Tools," published by Gartner, Inc. in September 2008. In addition Metastorm was recognized by both the Deloitte & Touche Fast 50 and Inc. magazine for its strong growth and received the KMWorld Trend-Setting Product of 2008 and the Supply & Demand Chain Executive 100 awards for its product innovation.
Metastorm's ability to sell into three growing markets - EA, BPA, and BPM - combined with its proven track record of delivering results and customer success has had a very positive impact on the performance of the company that culminated in the filing of Form S-1 with the Securities and Exchange Commission in May 2008 announcing Metastorm's intent to pursue an initial public offering. Last week, Metastorm withdrew its registration statement on Form S-1 as filed with the SEC due to the volatile capital market conditions. Withdrawing the S-1 removes the overhead and legal restrictions associated with SEC regulations and will allow Metastorm to continue to execute on strategic initiatives and pursue potential acquisition opportunities to expand its product offerings and support continued growth. The company will consider re-filing when market conditions improve.
"Our message of unifying strategy, analysis and execution with an integrated suite of EA, BPA and BPM software from Metastorm is clearly resonating in the market, as is evident by our continued growth in a very volatile economy," stated Robert Farrell, chairman and CEO of Metastorm. "Metastorm's software helps companies evaluate their enterprise assets and determine how to create greater efficiency and control in their core business processes. We understand the need for companies to optimize their business and gain rapid ROI and we continually work with our customers to realize quantifiable results through their EA, BPA and BPM projects. The ability to make optimal use of enterprise resources is especially critical in difficult times, and Metastorm is committed to providing software to help our customers in their efforts."
About Metastorm
With a focus on enterprise visibility, optimization, and agility, Metastorm offers market-leading software for Enterprise Architecture (EA), Business Process Analysis (BPA) and Business Process Management (BPM). As an integrated product portfolio, Metastorm Enterprise™ allows organizations to improve business results by unifying strategy, analysis and execution. Metastorm is bringing together these critical disciplines to enable an understanding of enterprise architecture and strategy, accurate impact and opportunity assessment, effective process execution, and accelerated value realization for organizations worldwide. For more information on powering strategic advantage with Metastorm Enterprise, visit www.metastorm.com.
®Copyright 2008, Metastorm Inc. All rights reserved. Enterprise Process Advantage, Metastorm BPM, Metastorm Discovery, Metastorm DNA, Metastorm Enterprise, Process Pod and ProVision are either registered trademarks or trademarks of Metastorm Inc. Other product, service and company names mentioned herein are for identification purposes only and may be trademarks of their respective owners.
THIS NEWS RELEASE CONTAINS ARCHIVAL INFORMATION, WHICH SHOULD NOT BE CONSIDERED CURRENT AND MAY NO LONGER BE ACCURATE.
Press Contact Information:
Gina Karr
Metastorm
T: +1 443-874-1260
T: +44 (0) 208 971 1519
gkarr@metastorm.com
Shahed Ahmed
Merritt Group
T: +1 703-390-1515
ahmed@merrittgrp.com
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