SOURCE: 3PAR

November 11, 2008 08:00 ET

3PAR Ranked in Deloitte's Technology Fast 50

Utility Storage Company Ranks No. 18 in Fast 50 in Five-Year Growth

FREMONT, CA--(Marketwire - November 11, 2008) - 3PAR® (NYSE: PAR), the leading global provider of utility storage, has been named one of the top 20 fastest 5-year growth companies in Silicon Valley in the category of Software and Information Technology by Deloitte's 2008 Technology Fast 50 Award program. This year's Silicon Valley Technology Fast 50 is co-presented by Deloitte, Silicon Valley Bank, Korn/Ferry International, Cooley Godward Kronish LLP, Cornish & Carey Client Solutions, and ABD Insurance and Financial Services, a Wells Fargo Company. Rankings are based on the percentage of revenue growth over five years from fiscal year 2003-2007. 3PAR's increase in revenues from fiscal year 2003 to 2007 resulted in a top 20 ranking in the list of fastest growing software and IT companies in Silicon Valley over that period of time.

"Deloitte's Silicon Valley Technology Fast 50 companies have shown the strength, vision, and tenacity to succeed in today's very competitive technology environment," said Mark Jensen, Managing Partner, National Venture Capital Services, Deloitte & Touche LLP, in Silicon Valley. "We applaud the successes of 3PAR and acknowledge it as one of the very few to accomplish such a fast growth rate over the past five years."

"The disruptive value proposition that 3PAR offers our customers is particularly attractive to other high-growth companies such as Software-as-a-Service providers and Web 2.0 companies who have turned to 3PAR to lower their costs while improving the service levels and agility that give them a competitive edge," said David Scott, President and CEO for 3PAR. "Having recently announced our fourth consecutive quarter of revenue growth since 3PAR's IPO in November of last year, being named one of Deloitte's Fast 50 for Silicon Valley is not just a validation of our sustained financial success over the past five years, but we believe it is proof positive that 3PAR's value of 'doing more with less' is more important in today's economy than ever before," said Scott.

The 2008 Technology Fast 50 Awards program acts as an industry benchmark signifying accomplishments to shareholders, venture capitalists, and industry analysts alike. To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in fiscal year 2003 and $5,000,000 in fiscal year 2007, be headquartered in the San Francisco Bay Area, and own proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify.

Companies from the regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte's Technology Fast 500 program, which ranks North America's top 500 fastest growing technology, media, telecommunications, and life sciences companies. For more information on Deloitte's Technology Fast 50 or Technology Fast 500 programs, visit www.fast500.com.

About Deloitte

As used in this document, "Deloitte" means Deloitte LLP. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.

About 3PAR

3PAR® (NYSE: PAR) is the leading global provider of utility storage, a category of highly virtualized, tightly clustered, and dynamically tiered storage arrays built for utility computing. Organizations use utility computing to build cost-effective virtualized IT infrastructures for flexible workload consolidation. 3PAR Utility Storage gives customers an alternative to traditional arrays by delivering resilient infrastructure with increased agility at a lower total cost to meet their rapidly changing business needs. As a pioneer of thin provisioning -- a green technology developed to address storage underutilization and inefficiencies -- 3PAR offers products designed to minimize power consumption and promote environmental responsibility. With 3PAR, customers have reduced the costs of allocated storage capacity, administration, and SAN infrastructure while increasing adaptability and resiliency. 3PAR Utility Storage is built to meet the demands of open systems consolidation, integrated data lifecycle management, and performance-intensive applications. For more information, visit the 3PAR Website at: www.3PAR.com.

© 2008 3PAR Inc. All rights reserved. 3PAR, the 3PAR logo, Serving Information, InServ, InForm, InSpire, and Thin Built In are all trademarks or registered trademarks of 3PAR Inc. All other trademarks and registered trademarks are the property of their respective owners.

Contact Information

  • 3PAR U.S. Contact
    John D'Avolio
    Triggerfish Consulting for 3PAR
    415 642 4049
    Email Contact

    3PAR U.K. Contact
    Federica Monsone
    A3 Communications for 3PAR
    +44 (0) 20 1252 875 203
    Email Contact