CIMdata PLM Industry Summary Online Archive
30 July 2008
Financial News
Endeca Reports Record First Half Results
Endeca Technologies, Inc., announced record first half results. Demand for software and services grew as both new and existing Endeca clients sought new opportunities for reducing cost, creating new revenue streams, and adapting to shifts in consumer demand through greater information visibility. In the first and second quarter of 2008, Endeca closed more than 100 new license transactions, including both new platform deals and expansion deals with existing public and private sector clients.
Endeca’s continued growth, including several multi-million dollar software license transactions, highlights the increasing importance of information visibility during a time of global economic shifts, as well as the continued makeover of the enterprise search, business intelligence and information access marketplaces.
These deals included market leaders like Adenclassifieds, Arrow Electronics, Bauer Consumer Media, BlueFly, Circuit City, Discovery Communications, IBM, Quixtar, Toshiba, and Walmart.com, as well as some of the largest defense, intelligence and civilian agencies in the US and Canadian national governments.
Channel and partner activity also reached record levels, creating new delivery methods and introducing first-of-their-kind Endeca-powered information access applications to new markets. Strategic alliances with Thanx Media and FTI Consulting introduced new Software-as-a-Service offerings and broadened the application of Endeca in e-commerce and e-discovery use cases. New and expanded technology alliances with Allurent, Coremetrics and Bazaarvoice bolstered Endeca’s retail offerings and introduced must-have capabilities for the next generation of multi-channel retail applications. And top regional, specialty and global solutions integrators like Cognizant, Infosys, NavigationArts and New Idea Engineering capitalized on their Endeca centers of excellence and industry expertise to win new business, create new revenue opportunities within their client base, and introduce Endeca into new organizations and markets.
“Information visibility strategies play a critical role as businesses seek to unify channels, design products that align to dramatic shifts in consumer demand, reduce risks and costs in their supply chain, and identify higher margin opportunities,” said Steve Papa, CEO of Endeca. “The versatility and simplicity of our technology has proven to a valuable asset in reacting to these shifts and informing decisions that align with the new operational imperatives. No business is immune to the macroeconomic realities, but our first half growth in both established and emerging markets is a clear indicator of the value the technology delivers and its importance to our clients’ top and bottom line.”
First half 2008 highlights include:
- Secured strategic investments from SAP and Intel to fuel continued expansion and research
- Unveiled new investments and collaborative innovation initiative in retail, which has already yielded new products like Endeca’s Merchandising Workbench, new joint offerings like the Allurent Rich Media Module, expanded partnerships with Coremetrics and Bazaarvoice, and deployments, like the new Borders e-commerce store and in-store kiosks
- Drew record number of attendees to the company’s 5th annual user conference, Discover 2008 in Orlando, Florida
- Named Borders, CDW, US Army 1st Information Operations Command, The Home Depot, JCPenney, Jupiter Images, Raytheon, and RS Components as the 2008 Endeca Navigator Award winners, recognizing innovative information access application deployments
- Announced the election of Joel P. Friedman, formerly of Accenture, to the company’s board of directors
- Selected as the search and information access standard by the world’s leading commerce platform provider
- Recognized as one of the top 5 fastest growing companies in Massachusetts by the Boston Business Journal for the second consecutive year
- Attracted 80 senior executives from the world’s leading financial services, manufacturing, and retail firms to a full-day workshop with Harvard Prof. Michael E. Porter on the topic of “Driving Competitive Advantage with Information Visibility”
- Appointed SAP, Oracle and Yantra veteran, Jeff Murphy, as senior vice president of sales
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