Vormetric Announces Record Results for 2009
SANTA CLARA, Calif. – February 2, 2010 – Vormetric, Inc., the leader in centrally managed encryption for enterprise systems, today announced a record year that produced three consecutive quarters of record profit, bookings and revenue. Momentum continued to build throughout the year, ending with Vormetric generating 127 percent bookings growth and 30 percent operating profit in the fourth quarter.
Vormetric experienced increased demand for its heterogeneous, high-performance encryption solution, driven in large part by the Payment Card Industry Data Security Standard (PCI DSS) encryption requirements, an increase in enterprise projects to protect consumer and employee data, and the need to encrypt patient health data for safe harbor under the Health Information Technology for Economic and Clinical Health (HITECH) Act. New Vormetric customers for 2009 include three of the top 10 companies in diversified outsourcing, two of the top 10 companies in financial data services, and major names in Fortune 1000 retail, manufacturing, healthcare and utilities.
Extensive customer expansions in the US government, large financial services, technology, retail and major outsourcing partners also made a strong contribution to Vormetric’s 2009 results. Customers continue to expand their implementations of Vormetric database, file and storage encryption based on ease of management, performance, rapid implementation, reliability, and low total cost of ownership (TCO).
“The rapid increase of data thefts and the evolving regulatory environment are driving enterprises to secure sensitive data at its source. At the same time, enterprises understand that implementing encryption on mission-critical enterprise systems cannot come at the expense of data availability or performance,” said Richard Gorman, president and CEO of Vormetric. “The success Vormetric achieved in 2009 is a testament to our ability to serve the diverse needs of this rapidly growing market and our standing as a trusted, proven provider of enterprise data encryption.”
Vormetric is the leader in centrally managed encryption for enterprise systems... Vormetric's application- and database-transparent solution outperforms other offerings to provide stronger and broader data security at a fraction of the management and implementation cost. Vormetric's more than 500 customers represent the world's most trusted brands, outsourcing providers and highly security conscious government agencies including Prudential, TRX, Metabank and BCAA. Vormetric technology has received strong market validation for its innovative approach to data security, including:
- Selection by IBM as the only database encryption solution for DB2 and Informix on LinuxTM, Unix® and Windows
- Computerworld Technology Innovation Award
- Selection by Symantec to provide the Symantec Veritas NetBackupTM Media Server Encryption Option
- Partnership with Oracle to secure the execution environment for Oracle® Database Vault
Vormetric is a trademark of Vormetric, Inc. All other names mentioned are trademarks, registered trademarks or service marks of their respective owners.