ObjectStore Revenue up 32 Percent; ObjectStore's Growth Driven by Demand for Real-Time Data Management; Prompts Addition of PeerDirect to ObjectStore
BEDFORD, Mass. (BUSINESS WIRE)
21-Dec-2004
ObjectStore(R), a leader in products for real-time data services and an operating company of Progress Software Corporation (PSC) (Nasdaq: PRGS), today announced that, for the fiscal year ending November 30, 2004, ObjectStore's revenue was $17.9 million, up 32% over the prior year and far exceeding the growth of other companies in the real-time data services market. Strong, continuing demand for ObjectStore products and the recently completed acquisition of Persistence Software are expected to extend ObjectStore's strong growth record in 2005.
"The urgent need for increased corporate visibility and insight into enterprise data has created exciting new opportunities for ObjectStore's unique real-time data management products," said Peter Sliwkowski, president, ObjectStore. "While maintaining our leadership presence in industries that require high performance, ObjectStore also delivers crucial technology to emerging markets that require real-time data management in support of program trading, RFID, fraud detection and homeland security."
Deliveries of ObjectStore technology to such companies as Alcatel, Abbot Labs, Fairfield Language Systems, Holosoft, Ingolstat and Ruped Systems GmbH helped drive ObjectStore's Q4 revenue.
Additional Technologies to Complement ObjectStore Product Strategy
Established as a PSC operating unit in December 2002 when PSC acquired eXcelon Corporation, ObjectStore has continued to expand its product suite through both in-house product development and strategic acquisitions. In addition to the acquisition of Persistence Software, completed in November of this year, PSC recently opted to merge PeerDirect, another PSC operating company, into the ObjectStore Division. ObjectStore now offers four complementary lines of business that deliver real-time data services capabilities:
-- ObjectStore Distributed Data Caching - ObjectStore EdgeXtend(R) (http://www.objectstore.com/products/edgextend/), acquired with Persistence, establishes ObjectStore as both the technology and market leader in distributed data access and caching software with a set of object/relational mapping and data caching tools for developers in .NET, Java and C++ environments.
-- Complex Event Processing (CEP) - Encompassing ObjectStore(R) RFID Accelerator(TM) and ObjectStore(R) Trading Accelerator, and the ObjectStore Event Engine(TM), ObjectStore CEP (http://www.objectstore.com/products/rtee/) technologies turn event stream data (e.g. a Reuters data feed or data captured from Radio-Frequency Identification (RFID) tags) into meaningful business events. ObjectStore CEP allows applications to identify patterns and proactively create new events that trigger autonomic actions. ObjectStore is pioneering CEP, whose rapid growth is partly attributable to increasing demand for real-time event processing applications.
-- Object Data Management - With the industry's leading object database, ObjectStore (http://www.objectstore.com/products/objectstore/) continues to serve complex data management requirements associated with applications built in Java(TM), C++ and .NET development environments. ObjectStore provides both end-user organizations and application partners with a rich platform upon which to develop and operate real-time applications. ObjectStore's latest 6.2 release has added support for Java(TM) Data Objects (JDO) and key enhancements that include schema modification tools and support for 64-bit Linux platforms. These new features further enable applications with complex data models to deliver the high performance and manageability required by ObjectStore customers such as Amazon.com and Delta Airlines.
-- Data Synchronization - PeerDirect(R) (http://www.peerdirect.com/) data synchronization products enable mobile workforces and remote office applications to support disconnected operation, supporting different data sets or data slices at each location. PeerDirect also experienced its strongest quarter to date in Q4 2004 as did ObjectStore. To capitalize on this momentum and exploit significant product synergies with other ObjectStore units - PeerDirect has merged into ObjectStore. PeerDirect technology allows software developers and enterprise IT departments to enable applications to work in a mobile world so that real-time decisions can be made and transactions captured in the field. Leveraging patented database replication technology that allows the same applications to be run centrally, remotely, on-line or off-line, PeerDirect enables mobile users to access applications and data without network connectivity. Remote offices with limited or variable bandwidth or mobile users with limited periods of connectivity can achieve the application service levels, optimized performance and lower management costs available to workers in the corporate office.
Partner-Based Selling Model Fuels Future Opportunities
ObjectStore attributes revenue growth to significant new accounts such as those listed above in addition to continued business from established customers. The company has assisted its application partners (APs) in developing new applications, with the objective of attracting more new customers and achieving further growth upon the deployment of applications created by new APs and end user customers.
ObjectStore also is collaborating with the Progress OpenEdge division to bring its complex event processing technology to the global PSC base of 2,000 APs who use the Progress OpenEdge(TM) Platform. Progress partner DABAC has already announced its deployment of ObjectStore RFID Accelerator, which several other Progress APs are in the process of testing.
"With the strong support of Progress Software Corporation, ObjectStore has assembled the people and resources necessary to be a major technology vendor," added Sliwkowski. "With the recent addition of the innovative and patented technologies from PeerDirect, which also finished its strongest quarter since its inception in 2002, we expect to see a growing revenue stream."
About ObjectStore
ObjectStore is a global provider of real-time data management products. Its products enable corporate data caching and complex event processing, and its leading object database is renowned for performance and scalability. ObjectStore(R) products are supporting RFID implementations, and are deployed in industries such as finance, telecommunications and travel, where companies rely on them to complement their corporate data management infrastructure.
ObjectStore is an operating company of Progress Software Corporation (Nasdaq: PRGS), a $300+ million global software industry leader. Headquartered in Bedford, Mass., ObjectStore can be reached on the Web at http://www.objectstore.net or by phone at +1-781-280-4000.
About Progress Software Corporation
Progress Software Corporation (Nasdaq: PRGS) is a $300+ million global software industry leader. PSC supplies technologies for all aspects of the development, deployment, integration and management of business applications through its operating companies: Progress Software, Sonic Software Corporation, DataDirect Technologies, ObjectStore and PeerDirect. Headquartered in Bedford, Mass., PSC can be reached on the Web at http://www.progress.com or by phone at +1-781-280-4000.
ObjectStore, ObjectStore Event Engine, ObjectStore RFID Accelerator, PeerDirect, and EdgeXtend are trademarks or registered trademarks of Progress Software Corporation or one of its affiliates or subsidiaries in the U.S. and other countries. Java and all Java-based marks are trademarks or registered trademarks of Sun Microsystems, Inc. in the U.S. and other countries. Any other trademarks or service marks contained herein are the property of their respective owners.
SOURCE: Progress Software Corporation
Progress Software Corporation
Candace Clemens, 781-280-4101
cclemens@progress.com
or
Schwartz Communications, Inc.
Avi Dines, 781-684-0770
progress@schwartz-pr.com
