SOURCE: Protegrity USA, Inc.

Protegrity USA, Inc.

January 24, 2011 08:30 ET

Protegrity Announces Strong Growth for FY 2010; Q4 Revenue Doubles From Prior Year

Company Now Securing Sensitive Data for 25 Percent of Top 20 Largest U.S. Retailers; Sees Surge in Demand for Its Next-Generation Tokenization Technology Across Industries

STAMFORD, CT--(Marketwire - January 24, 2011) - Protegrity USA, Inc., a leading provider of end-to-end data security solutions, today announced that the company achieved several milestones in its fiscal year which ended on Dec. 31, 2010 (FY10). These accomplishments include a 100 percent increase in Q4 2010 total revenue compared to Q4 2009 and a 77 percent increase in license fees from FY 2009 to FY 2010. Total income from all sources for the fiscal year increased by 71 percent compared to the previous year. This momentum reflects strong demand for Protegrity's software solutions among corporations and government organizations looking to eliminate serious risks and liabilities associated with unprotected sensitive data.

"The explosion of cloud computing and heightened regulatory requirements for securing sensitive data have created a huge challenge for large enterprises that demand more affordable, scalable solutions to stay compliant," said Iain Kerr, President and CEO of Protegrity USA, Inc. "The fact that Protegrity provides the highest level of data security, transparency and performance available combined with this trend have enabled the momentum that we are experiencing this year. We have also seen a surge in demand for our tokenization technology, which enables companies to reduce costs associated with PCI and HIPAA compliance."

Customer Momentum
Protegrity now works with 25 percent of the top 20 largest U.S. retailers, and also saw increased demand for its data security solutions across other vertical industries including manufacturing, financial services, travel and transportation, healthcare and government. During 2010, Protegrity surpassed its 200th enterprise deal. Customer interest in Protegrity Tokenization, one of the fastest growing solutions within the company's data security product portfolio, was a major catalyst for this momentum.

Protegrity signed new contracts and expanded existing ones in 2010 with major corporations and government organizations, including Amtrak, Datapipe, Garanti Bank, Lotte Department Stores, Marathon Oil, the State of Utah, the State of Michigan, a number of Japanese government agencies and Winn-Dixie.

Partner Momentum
During 2010, Protegrity established and strengthened partnerships with several technology leaders including Teradata, IBM, McAfee, PGP (now Symantec) and Thales, as well as system integrators and resellers such as JCS & Associates, STIGroup, Xbridge Systems and Telus Communications. All of these partnerships have enabled Protegrity to extend its data security capabilities across different IT environments and into new markets worldwide.

"We have enjoyed a very strategic partnership with Protegrity for over five years," said Randy Lea, VP of Technical Marketing and Product Management at Teradata Corporation. "Working closely together, Teradata and Protegrity have helped our joint customers drive down risk and efficiently manage complex regulatory compliance around their critical business intelligence and analytical data initiatives. The Protegrity Data Security Platform continues to be a great complement to the Teradata Enterprise Data Warehousing family of products."

A summary of FY 2010 highlights include:

  • 77 percent year-over-year license revenue growth
  • 71 percent year-over-year growth in all income items combined
  • 100 percent year-over-year revenue growth in Q4
  • Maintenance and support fees represented 42 percent of total FY10 revenue
  • 80 percent year-over-year increase in average contract value
  • Deals with 25 percent of the top 20 largest U.S. retailers
  • Signed new partnership agreements with major technology leaders and system integrators including IBM, McAfee and PGP (now Symantec)

About Protegrity
Headquartered in Stamford, Conn., Protegrity provides high performance, infinitely scalable, end-to-end data security solutions that protect sensitive information across the enterprise from the point of acquisition to deletion. The company's award winning software products span a variety of data protection methods, including end-to-end encryption, tokenization, masking and monitoring and are backed by several important data protection technology patents. Currently, more than 200 enterprise customers worldwide rely on Protegrity's comprehensive data security solutions to enable compliance for PCI-DSS, HIPAA and other data security requirements while protecting their sensitive data, brand, and business reputation. For more information, please log on to http://www.protegrity.com.

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