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SevOne Announces Record Revenues and Growth for 2011Customer and Geographic Expansion, Ability to Execute on Strategy Drive Corporate Growth (January 24, 2012)
WILMINGTON, DE -- (Marketwire) -- 01/24/12 -- SevOne, the leader in network performance management, today announced business results for its fiscal year ending December 31, 2011. The privately-held and profitable company posted record revenues experiencing almost a 70% growth in revenue, increased bookings by over 100% year-over-year, added a record number of new customers for the year, and grew employee headcount by approximately 30%. The company's strong performance is the result of its execution on strategy, geographic expansion, and increased adoption of its network performance management solution by existing customers.
SevOne increased its global customer base by 50% for the year. Following the successful introduction of end-to-end 4G LTE, IMS and Ethernet Backhaul solutions, the company added two wireless carriers, a telecommunications carrier in Europe, and two more North American cable companies. Driven by new project initiatives, SevOne also added two multi-billion dollar Financial Services companies, as well as a number of other enterprise customers in the fourth quarter. Existing customers continued to expand their use of SevOne by more than 50% per year as well, including ACS (a Xerox Company), Comcast, CSC, Hawaiian Telcom, Metro PCS, Knight Capital, Optimum Lightpath, and Time Warner Cable. The company also forged new technology and business partnerships worldwide, bringing the total to 40 regional partners across the globe.
In addition to delivering strong financial results and significantly expanding its global customer base and sales team in 2011, SevOne continued to advance its technology to meet its customers growing demands for more collection and reporting capabilities. Product innovations delivered in 2011 include:
- Launching major new solutions for telecommunications and cable operators, including the industry's first end-to-end solution for 4G LTE and IMS performance management
- Ethernet backhaul performance management solution
- IP Telephony monitoring for enterprises and managed service providers
SevOne's 2011 third party recognition for its product and market leadership included being ranked number 2 on the Deloitte Fast 50 List in the Greater Philadelphia Area, number 30 on the Deloitte Fast 500 List, and number 315 on the Inc 500 List of Fastest Growing Private Companies. SevOne was also named a 2011 CRN Emerging Technology Vendor, an Emerging Technology Company of the Year by PACT, and was the recipient of a Wireless Backhaul Distinction Award from Mobility Tech Zone.
"SevOne continues to thrive in the market and we delivered strong revenue performance for the year," stated Mike Phelan, President and CEO of SevOne. "Customers rave about our all-in-one platform that is easy to buy, deploy and expand. We are unique in the industry vs. our competitors that deliver their solutions via multiple products that have been built via acquisitions and therefore are hard to deploy and use, and expensive to operate. We are very proud of our growing customer and partner base around the world, and confident in our ability to continue to deliver strong results in 2012."
About SevOne, Inc.
SevOne, Inc. delivers the industry's fastest, most scalable, and comprehensive real-time network monitoring, troubleshooting and performance reporting solution. The SevOne network performance management solution provides complete and immediate visibility that enables enterprises, cloud and communications service providers, and government organizations to keep increasingly complex networks, servers and applications functioning at peak performance levels. Hundreds of customers, including the top cable companies in North America, wireless network and managed service providers, and top financial services institutions rely on SevOne. Industry recognition includes: Inc. 500 fastest growing private companies, 2011 CRN Emerging Technology Vendor, and numerous product awards. Visit www.sevone.com.
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