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News

Strong growth for Credant during previous quarter

Credant Technologies : 29 October, 2009  (Company News)
Endpoint data protection company achieves global growth and records most successful quarterly results in their history
Credant Technologies has announced their best quarterly revenue bookings in the history of the company. Credant enjoyed great success across the board in achieving these numbers, and particular success internationally, where they recorded 577% growth compared with the same quarter last year. Credant also signed a multi-million dollar deal, their biggest ever to date, with one of the world's largest commercial banks looking to secure all of their endpoint devices including laptops, desktops and USBs.

Credant achieved another major milestone by exceeding 5.7 million licenses among a growing customer base of over 800 global household names, demonstrating the rapid adoption of Credant's most recent offering Credant Mobile Guardian Enterprise Edition v6.5. With this latest product offering, launched during the third quarter, Credant now offers full disk encryption and protection for Mac OS X as well as delivering enhanced usability, transparency and manageability for Windows and Smartphone devices.

As testament to the consistently high levels of customer satisfaction Credant delivers to its customers, the renewal rate for existing customers remained exceptionally high at over 95%, Credant also saw significant growth in new software purchases from their existing customer base, as organizations extend their licenses and roll out Credant's endpoint security solutions across the entire enterprise's population of mobile devices and endpoints.

Credant benefited from strong performance in all sectors, with particularly notable success in the Financial Services, Government and Healthcare sectors. In Europe, Credant signed a large contract under the new UK Government Code of Connection (CoCo), which is a list of security controls, including endpoint security, for all local authorities who have to be compliant before being allowed to connect up to the Government Connect Secure Extranet (GCSX). This has resulted in a number of local authorities purchasing Credant's solutions including Birmingham City Council who have contracted initially for 25,000 seats.

In the US, the enactment of the Health Information Technology for Economic and Clinical Health (HITECH) Act has created an opportunity for healthcare organizations to proactively expand their use of Health Information Technology (HIT) while also verifying their compliance with federal and state privacy and security regulations. This has led to a significant interest from the Healthcare sector and associated industries (Life Sciences, Pharmaceuticals, etc.) in Credant's data protection and encryption solutions, generating close to 20% of quarterly revenues.


In the last quarter, Credant's position as leaders in the marketplace was once again acknowledged by a number of analyst and industry organizations, including being recognized as visionaries in Gartner's 2009 Magic Quadrant, for Mobile Data Protection, ranking number 93 on Technology Fast 500â„¢, and being selected as a finalist in the GSN: Government Security News Homeland Security Awards competition. "Although we are in a very challenging macro-economic environment we have continued to be recognized for our accomplishments despite the economic trend which shows how even during these difficult times our customers have chosen our solution as best of breed to meet their endpoint security requirements. In fact, this has been our best quarter in our history, which demonstrates we have a world-class team in place; we continue to gain recognition for product innovation; and we are committed to building trusted relationships amongst our customers and partners," said Bob Heard, founder and CEO of Credant. 'We are committed to delivering endpoint data protection that enables business processes to continue unhindered while providing strong compliance and mitigation controls with the lowest cost of ownership."
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