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News

Barclays contract has significant effect on Datanomic growth

Datanomic : 12 January, 2010  (Company News)
Datanomic records triple digit growth on the year after securing significant contracts in the banking sector including the company's largest ever contract which it signed with Barclays
Compliance and data management specialists, Datanomic hasounced it completed its 2009 fiscal year ending 31 December 2009 on a high with record revenue growth. Bucking the global recession, Datanomic achieved year-on-year triple digit growth for the fourth consecutive year, and saw a 40 per cent increase in customer implementations, including a seven figure global contract with Barclays, the largest single deal in Datanomic's history.

Throughout 2010, Datanomic will be focusing on further global expansion by establishing a US subsidiary, appointing a new Director for its North American operations, extending its sales reach into the Asia Pacific region via strategic partnerships, and actively recruiting additional resellers and partners throughout Europe.

Datanomic saw growth in its core target markets of Telecommunications, Retail and Financial Services, across both lines of business - Risk & Compliance Screening and Data Management Applications. Growth in these markets was fuelled by increased regulation, together with a drive towards the efficiencies gained from a single and holistic view of fit-for-purpose data. The company also significantly expanded its partner network through geographically and vertically focused partnerships, including integrators, resellers and referral partners, as well as two OEM agreements with international software organisations.

"2009 has been yet another milestone in our corporate growth," said Dr Jonathan Pell, CEO of Datanomic. "In addition to exceeding our revenue objectives, we've gained significant industry recognition, including Gartner naming Datanomic as a Visionary in its Magic Quadrant for Data Quality Solutions. We've also picked up industry accolades, including Data Strategy Magazine's 2009 award for 'Best Use of Data in Technology, Communications and Web-Based Services' for Vodafone's global deployment of our dn:Director for Sanctions & PEP Screening solution. We also have no expectation of requirements for any additional funding, following the recent buyout of 3i's shares and loans by Datanomic Management and other existing investors, supported by investor DN Capital. We're looking forward to continued commercial momentum in 2010."

In December 2009, Datanomic announced the formation of an Independent Advisory Board to help steer the company through its next phase of domestic and international growth. The Advisory Board is Chaired by Tony Morris, independent strategy consultant and former Non-Executive Director of Datanomic, and also includes Keith Willetts, Chairman and founder of the TM Forum (the world's leading telecoms trade association), and senior IT industry veteran Dr Mike Hamm.
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