February 10, 2009 14:08 ET to Present at Thomas Weisel Partners Technology and Telecom Conference Presents on Next-Generation SaaS and Success With an On-Demand Software Model

SAN DIEGO, CA--(Marketwire - February 10, 2009) -, the pioneer IT service management via SaaS, today announced Fred Luddy, CEO, will present today at the Thomas Weisel Partners Technology and Telecom Conference at the Fairmont Hotel in San Francisco. The presentation will be held on Tuesday, Feb. 10, 2009 at 1:30 pm PST in the Garden Room.

Fred will present on next-generation SaaS and's success with an on-demand software business model. For access to the presentation, please contact Rhett Glauser. recently announced record growth. As of Dec. 31, 2008, was approaching $20 million in recurring revenue. executives attribute the growth to a modern approach to software-as-a-service (SaaS) and to simply doing what is right for the enterprise IT customer in a new economy. has also been cash-flow positive for the last year and a half and has experienced high triple-digit growth during the last three years. FY 2008 revenue grew 389 percent over FY 2007 revenue.

According to an IDC press release, "Recent IDC surveys and customer interviews support the finding that the harsh economic climate will actually accelerate the growth prospects for the software as a service (SaaS) model as vendors position offerings as right-sized, zero-CAPEX alternatives to on-premise applications. Buyers will opt for easy-to-use subscription services which meter current use, not future capacity, and vendors and partners will look for new products and recurring revenue streams. As such, IDC has increased its SaaS growth projection for 2009 from 36% growth to 40.5% growth over 2008." *

About enterprise IT service management software integrates ITIL v3 processes, software-as-a-service (SaaS) delivery, and Web 2.0 functionality to provide a flexible, intuitive and self-managing application. was founded by Fred Luddy, former CTO of Peregrine Systems and Remedy. The company is based in Solana Beach, Calif. and has more than 235 enterprise customers worldwide. For more information, please visit

* IDC press release, "Software as a Service Market Will Expand Rather than Contract Despite the Economic Crisis, IDC Finds," Robert P. Mahowald, Jan. 26, 2009.

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