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Application security testing drives strong annual growth

Fortify : 04 August, 2008  (Company News)
Double the orders for 2007 drive outstanding growth for Fortify, consolidating its position in the market of Business Assurance software
Fortify Software has announced a continued record of strong business growth with the close of Q2 2008, having more than doubled bookings over the same quarter last year. The company’s continued success is marked by the launch of its cornerstone product suite, Fortify 360, and Business Software Assurance vision, as well as significant customer growth globally.

“The introduction of Fortify 360 to market this quarter was a major milestone for our company, and the message behind Business Software Assurance is really resonating with our customers,” commented Fortify President & CEO John Jack. “We’re seeing a desire from both our existing and new customers for a partner and service provider who will work with them over time to establish a long-term application security strategy through risk assessment and the deployment of our comprehensive application security solution.”

Highlights of the quarter include:.

Customer agreements with Britain’s third-largest bank as well as major European telcos, banks, insurance and pension companies, and systems integrators.

Introducing to the market its cornerstone application security suite, Fortify 360, the first application security suite to integrate three levels of analysis to secure software from development through production and provide a venue for collaborative remediation between developers and security professionals.

The announcement of a new corporate vision, Business Software Assurance, to provide enterprises with a comprehensive approach to application security that involves integrating security into the development process and securing enterprise software whatever the source.

The release of the Gartner Market Share: Application Development Software, Worldwide 2007 report naming Fortify as the market leader in application security testing holding 17.3% of the market over competitors HP and IBM.

More than doubling bookings over Q2 2007.

The close of a $3.5 million deal for Fortify 360 with one of the largest U.S. banks.

New and additional customer agreements with some of the U.S.’ leading businesses and organizations, among them NASA and Cornell University.

Significant growth in Asia Pacific, including the establishment of a Fortify presence in China and significant customer wins in Korea and Japan including, Hana Bank, Republic of Korea Army, LG, ACTIS, NS SOL and CSK Chubu.

Increased direct sales presence in the UK, France, Germany, Netherlands, Italy, Sweden, with new partners in Spain, Germany, Austria, Turkey.
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