ITKO Delivers Record Year with Revenue Growth and Leading Position in the Software Testing, Validation and Virtualization Market
Combination of Innovative Technology Development, Rapid Customer Growth, Increased Global Presence, Strategic Partnerships and Awards Set Stage for Continued Rapid Growth in 2009.
DALLAS, TX, January 29, 2009 -- ITKO, the leading provider of testing, validation and virtualization solutions for distributed enterprise applications that leverage SOA (Service-Oriented Architecture), BPM (Business Process Management), integration suites and ESBs, today announced a record year of growth and expansion in 2008. ITKO's LISA product suite has achieved success by fulfilling a pressing need in the market for automating unit, functional, regression, load and performance testing in an environment of constant change and complexity for some of the most prestigious enterprise customers in the world. ITKO highlights from 2008 include the release of LISA Virtualize for performance environments and the addition of more than 30 Global 2000 enterprise customers.
"While overall IT spending is tightly controlled during tough economic times, in our research we have identified certain technology investments that a business cannot afford to pass up if they are to remain competitive, and principal among these is virtualization," said Theresa Lanowitz, senior analyst, voke. "With its new service virtualization capability, ITKO is uniquely positioned to complete the value proposition customers started realizing with server and test lab virtualization tools. LISA Virtualize has put ITKO in the critical path of cost containment and increased software agility for customers."
"Today's rapidly changing marketplace is forcing more companies to confront new and difficult software cost containment and agility challenges, particularly in today's complex SOA and enterprise IT environments," said Shridhar Mittal, CEO of ITKO. "While demand for our LISA Test and Validate products continues to grow, sales of LISA Virtualize have skyrocketed." LISA Virtualize is a key component of the ITKO LISA product suite, and provides market-leading capabilities to eliminate the constraints of IT resource availability and accessibility during development and testing, resulting in more agile software release cycles, improved productivity, and lower risk. Mr. Mittal added, "Revenues are up more than 100 percent compared with last year, and we just completed a record quarter that exceeded our expectations. We fully expect to continue our success through 2009."
Significant Enterprise Customer Growth
ITKO saw a significant increase in sales in 2008, with a dramatic increase in its global user base due both to new customers and larger adoption within existing customers. The company added customers across all major industries, as large and mid-size enterprises sought a product that could embed complete, collaborative and continuous quality across the software development and testing lifecycle. New customers in 2008 included industry leaders such as Allstate, JP Morgan Chase, Intel and eBay. ITKO also saw a number of repeat customers who continued to purchase additional products such as DISA (US Department of Defense), American Airlines and Level3.
ITKO set a new standard for testing, validation and virtualization tools when it released version 4.5 of its flagship ITKO LISA product suite, which added service virtualization for load and performance testing, and other customer-driven enhancements.
In June, ITKO and SOA Software announced a combined solution for continuous management and quality assurance across the entire design, development and change lifecycle of SOA applications. August saw a partnership with dynaTrace software, the leader in lifecycle application performance management for complex SOA-based systems, which brought to market a combined solution that offers defense customers complete visibility into the quality and reliability of key software applications. In addition, several key System Integrator partnerships provided significant sales traction and delivery strength behind key customer implementations.
ITKO's LISA solution continues to garner accolades from a variety of industry venues. LISA was honored in April by TechTarget's SearchSOA.com with a Gold Award for Service Performance Product of the Year. LISA was also selected as a Finalist in the Great Indian Developer Awards 2008, and just recently LISA Virtualize was voted the Best Integration Solution by the Virtualization Conference & Expo 2008 West delegates. "To say that 2008 was an exciting year for ITKO would be an understatement," said John Michelsen, founder and Chief Scientist, ITKO. "We're adding new marquee customers each quarter, and continue to see increased adoption with our existing customers, plus exceptional growth in Europe and vertical markets such as the Federal government. With the dramatic rise in cloud computing and the use of heterogeneous development platforms, service virtualization capabilities provided by LISA have quickly evolved into 'must have' capabilities for many organizations' IT environments." Michelsen, a frequent speaker at industry events and widely quoted in the press, just authored a definitive guide called "Service Virtualization in Enterprise Application Development: Complementing hardware virtualization with a unique and compelling ability to reduce cost and increase business agility across the entire software lifecycle." For a free download of the new paper, please visit: here.
About ITKO, a CA Technologies company
ITKO, a CA Technologies company, optimizes composite application lifecycles. Our LISA service virtualization and validation software increases the agility of developing and delivering complex and cloud-based applications to market faster, while shifting quality left to eliminate costly constraints and defects in an environment of constant change. ITKO solutions eliminate software dependencies, decrease release times, and increase the reliability of composite applications that leverage cloud computing, SOA, BPM, integration suites and ESBs. ITKO's global customers include 5 of the top 6 Fortune 500 commercial banks, 5 of the top 6 Fortune 500 telecommunications firms as well as leading firms in insurance, travel, retail, utilities and government agencies. For more information, visit http://www.ITKO.com.
ITKO Press Contact: Jason English - news@ITKO.com - 1-214.764.9318