Relativity Technologies, Inc. has extended its leadership of the Enterprise Application Modernization (EAM) market with yet another quarter of record-breaking results. The selection of Relativity Technologies by the world's largest banking, insurance, government, and health care payer organizations combined with the standardization on the Modernization Workbench platform by leading technology and service vendors have led to this accelerating growth.
"The modernization of enterprise applications is a strategic imperative as the world's largest organizations seek to harness more value from their business processes," said Steve Maysonave, chairman, president, and CEO of Relativity Technologies. "As a result, the market for EAM continues to dramatically expand. To support this drive, end-clients and vendors are selecting the Modernization Workbench to deliver EAM solutions -- leading to another quarter of expansion and records for Relativity Technologies."
- Financial Records Set: Financial records continue to be set in 2006, as
Relativity Technologies' bookings for the first half of 2006 were
nearly 400% of the same period in 2005, while revenues increased by
more than 77% for the same periods. Additionally, with a substantially
increased base of deferred revenue, Relativity Technologies has created
an impressive foundation for building future growth.
- Expansion of Client Base: 23 new clients were added during Q2 of 2006,
further solidifying the Modernization Workbench as the technology of
choice for EAM.
- Establishment of Indian Subsidiary: Among the fastest growing providers
of EAM services are organizations based in India. To reduce costs,
risks, and support high-value EAM activities, 6 of the top 10 India-
based IT service providers have selected the Modernization Workbench.
To support this escalating growth of users in the region, Relativity
Technologies has established a subsidiary company in India, with an
initial office opened in Chennai.
- Technology Expansion: The Modernization Workbench's ability to support
the most sophisticated EAM activities was enhanced with the release of
a new version of the platform. The new release accelerates the
discovery of business processes buried within enterprise applications
and improves how these processes are modeled and organized. Further,
the release added several new languages to the expanding list of
supported environments, and refined the analysis capabilities of the
platform -- strengthening its capabilities for the maintenance and
enhancement of enterprise applications.
- Standardization on the Modernization Workbench: Software, hardware, and
services vendors have differing approaches to delivering EAM solutions.
However, the common feature that the leaders share is the selection of
the Modernization Workbench as the platform of choice for extending and
supporting their EAM offers. Broad and deep technical capabilities,
proven results, and the ability to use the platform to leverage
existing intellectual property make the Modernization Workbench the
natural choice.
- Continuing Expansion, Employee Growth: To support this continued
progress, Relativity Technologies is actively recruiting dynamic
technical and sales professionals. For more information, please visit
http://www.relativity.com/careers.
About Relativity Technologies, Inc.
Relativity Technologies' software solutions drive down the cost and accelerate the understanding, management, modernization, and maintenance of enterprise applications. The Modernization Workbench(R) serves as a platform for organizations to address critical business challenges such as increased IT productivity, outsourcing management, risk reduction, regulatory compliance, and SOA enablement of business-critical applications. Founded in 1997 and based in Raleigh, NC, Relativity Technologies provides its Enterprise Application Modernization solutions to 300 Global 2000 companies, outsourcers, system integrators, and government organizations -- including financial institutions and multiple BlueCross and BlueShield companies. For more information, please visit http://www.relativity.com.