SOURCE: Foliage

Foliage

April 30, 2014 09:00 ET

Foliage Achieves Double Digit Revenue Growth in 2013 Across Industry Sectors for the Fourth Consecutive Year

Early 2014 Acquisition Sets Stage for Continued Growth

BURLINGTON, MA--(Marketwired - Apr 30, 2014) - Foliage, a leading product development company, recently announced 35% revenue growth for 2013, marking the fourth consecutive year of double digit growth for the business. Strong growth among its industry-aligned business units especially in the medical and life sciences practice has provided a solid foundation upon which to build in the coming year.

"In the past year we've seen clients engage with us for full system development as well as software product development," said Tim Bowe, CEO of Foliage. "The first quarter of 2014 is no different. We continue to see an increase in client needs for new offerings that encompass tangible products, but within a fully connected system solution including embedded controls, connected application and cloud-based components."

In February 2014, Altran, a global leader in innovation and high-tech engineering consulting, based in France, acquired the company. This acquisition provides Foliage with unique opportunities to expand its global reach and service to clients in the medical, semiconductor, intelligent systems, life sciences and aerospace industries.

Bowe added, "The past year has been extremely successful for Foliage. We are excited about the positive results reported over the past four years and how the evolution in our core markets will continue to drive our business. The interest and offer by Altran is confirmation of the value it sees in Foliage and our proven ability to provide the highest level of technology expertise to support the development and commercialization of complex devices and systems."

During the past year, Foliage moved its headquarters, completing a newly developed campus space in the Boston area. It also continued expansion efforts in Silicon Valley and the San Diego area in response to increased demand from its West Coast clients. The year also saw Foliage add AS 9100 Rev C certification to its ISO 9001:2008 and ISO 13485:2003 certifications. This latest certification underscored the company's focus on supporting the stringent requirements of its clients in the aerospace industry.

Looking ahead this year, Foliage anticipates an expanded role supporting clients in the medical and life sciences industry as they adjust to the impact of the Affordable Care Act. This work, coupled with the need for full system development in other industries served by Foliage, will continue to provide targeted opportunities for continued growth throughout the year.

About Foliage
Foliage, Inc., a product development company, partners with companies to address the business and technical challenges inherent in developing complex software intensive systems. By providing a full complement of engineering and consulting services aligned to business needs and applied over the entire product lifecycle, Foliage enables companies to accelerate development and drive more predictability and productivity into their businesses. Foliage leverages over 20 years of experience partnering with leading companies in the Medical and Life Sciences, Aerospace and Defense, and Industrial Equipment industries.

Foliage is based in Burlington, Massachusetts with offices in California, the Netherlands and India. For more information, visit foliage.com

Foliage is part of Altran, global leader in innovation and high-tech engineering consulting that supports companies in the creation and development of their new products and services. With a staff of almost 21,000 employees in more than 20 countries, the Group generated revenues of EUR 1,633m in 2013. For more information, visit www.altran.com

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