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Broadway Technology Announces 2011 Year-End Results: Revenue up 50% for 4th Consecutive Year; Team Size Grows 50%; Celebrates 8th Year Anniversary; Accepts Strategic Investment From Top-Tier Banks, Including Goldman Sachs(January 09, 2012)
NEW YORK, NY and AUSTIN, TX -- (Marketwire) -- 01/09/12 -- Broadway Technology, LLC, the emerging leader in high-performance trading solutions for top-tier global banks and hedge funds, announced today its 2011 year-end results. Broadway's total revenue rose nearly 50% for the fourth consecutive year, customer base grew by 30%, and team personnel increased by over 50% with broad-based expansion in product development, client services, sales & marketing, business operations and college recruiting efforts.
Broadway marked 2011 with significant milestones and achievements, including announcing that it had accepted a strategic minority investment from its existing customers, including Goldman Sachs, to accelerate the expansion of global operations, to increase the corporate portfolio of market leading financial software, broaden its investment in its patented technologies, and to add new asset classes: credits, swaps, equities, options, and others.
Additionally, Broadway celebrated its eight-year anniversary in 2011 and touted its eighth consecutive year of profitability, led by its groundbreaking turn-key software solutions and patented enterprise platform, the TOC, the low-latency event driven, distributed data-oriented architecture that underpins all Broadway's solutions.
- Total revenue rose nearly 50% for a fourth consecutive year.
- Team size increased over 50% in 2011 with expansion in product development, client services, sales & marketing and business operations.
- Austin team size grew by 75% in 2011.
- Acquired new Austin office with space capacity aimed at tripling size of Austin team.
- Total customer base increased over 30%.
- Broad-based adoption by existing customers of Broadway's patented platform, the TOC, an event driven, distributed data-oriented architecture, as an enterprise middleware for developing large scale low-latency systems.
- Successfully expanded college recruiting efforts targeting top-rated computer science programs at MIT, Stanford, Cornell and Waterloo.
- Launched Broadway's quoting engine and e-commerce platform for US Treasuries.
- Added platform support for interest-rate swaps and mortgage products.
- Launched Managed Services, a new client-based support offering.
Tyler Moeller, Chief Executive Officer, said, "This has been a remarkable year for Broadway and for our customers. We surpassed all of our 2011 strategic goals, including increasing revenue by nearly 50%; bringing on new top-tier global customers; expanding our services for existing customers; partnering with premier global banks such as Goldman Sachs to make a strategic investment in our company; expanding our team size and our recruiting efforts, and successfully continuing to hire the best and brightest. 2011 was an exceptional year and we're incredibly excited about our plan for 2012. The best is yet to come."
This was an important year for Broadway's numerous technology initiatives, including major enhancements and optimizations to the TOC and Broadway's trading software. Broadway also launched its new e-commerce solution featuring a high-volume rules-based quoting engine, which when used in conjunction with Broadway's execution and pricing capabilities, completed the full US Treasury dealing solution. Broadway also established a Managed Services division designed to provide full-service support and system management for its clients.
Joshua Walsky, Chief Technology Officer, said, "We have been purposeful and methodological in our approach to building Broadway. We wanted to prove our business model, prove our software development model and platform, prove there was a market, prove that we could attract the top minds in the industry, prove that we could build a great company with a great culture, and prove that we could do it year over year through times of economic growth and downturns. Broadway has demonstrated, more than ever in 2011, that when it comes to building superior trading technology and a superior company, we are clearly ahead of our competitors."
About Broadway Technology
Broadway Technology is the emerging leader in high-performance financial trading solutions and consulting services for top-tier global banks and hedge funds. Broadway's software manages billions of dollars in transactions daily worldwide for premier financial institutions. Founded in 2003 by experts in computer science, high frequency algorithmic trading and enterprise software, Broadway has been profitable every year since its inception, with revenues having grown more than 50% annually since 2008. The company has employees spread across five countries with headquarters located in New York and Austin. To learn more about Broadway, visit us at: www.broadwaytechnology.com, or contact us at: firstname.lastname@example.org / tel: 646.912.6450.
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