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News

Record number of new clients in 2007 for Credant.

Credant Technologies : 05 February, 2008  (Company News)
Majority of revenue from new clients comes from Credant Mobile Guardian, data protection software for laptops and desktop computers.
Credant Technologies has announced continued strong growth during 2007. Credant experienced double-digit growth in revenue over 2006 and exceeded 4.6 million cumulative product licenses sold. The company also added 268 new customers, an increase of 79 percent compared with 2006, bringing its total number of customers to 600.

Credant's increase in new customers is a testament to the market demand for an endpoint data security solution that "protects what matters" while ensuring that the security does not interfere with operational processes and is totally transparent to the end user. Growth in Europe, the Middle East, and Africa (EMEA) was especially strong, with an 89 percent increase in revenue. In line with market demand, 84 percent of revenue came from sales of Credant Mobile Guardian (CMG) software for Windows-based desktops and laptops. Another key component of Credant's growth in 2007 was successful teaming with channel partners, who contributed 45 percent of revenues for the year.

"2007 was the year for endpoint data security. Organizations understood that data at rest on any type of endpoint is at risk when lost or stolen and aggressively focused on solving the problem," stated Bob Heard, Credant founder and CEO. "We believe this growth will continue to accelerate in 2008 as more organizations understand that the insider threat of data being breached during routine maintenance of a laptop or desktop is as much of a threat as a breach from the outside and must be addressed to meet compliance regulations."

Credant was selected by the US Department of Defence (DoD), US General Services Administration (GSA), and the Office of Management and Budget (OMB) to provide the federal government encryption products for data-at-rest security. The blanket purchase agreement, awarded by DoD's Enterprise Software Initiative (ESI) and available government-wide through GSA's SmartBuy program, helps agencies meet a key OMB mandate to encrypt data at rest and data stored on vulnerable endpoints.

New government customers in 2007 included US General Services Administration (GSA), Navy Medical Corps, and Department of Energy (DOE) Sandia Labs. Credant also welcomed the State of California and received additional contracts from the US Army, Transportation Security Administration (TSA), and other agencies.

Growth in EMEA, fueled by the growing awareness of the need to protect the privacy of data, resulted in Credant adding key customers including one of the three largest electric utilities in Europe; one of South Africa's largest financial services groups; Italy's largest power company and Europe's second-largest utility for installed capacity; a mobile network operator headquartered in Germany; and many more. The increase in market demand spurred the expansion of the Credant team in EMEA and plans for aggressive growth in 2008.

Credant's growth in 2007 is measured not only in the number of new customers and strong quarter-over-quarter revenue growth, but also by customer satisfaction as demonstrated by the company's maintenance renewal rate, which continues to be over 90 percent.
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