Tideway Closes 2008 with Record Customer Wins

NEW YORK and LONDON – February 17, 2009 – Tideway, pioneers in data center search software, today announced results for the fiscal year ending January 31, 2009. For the third consecutive year, the company achieved continued year-on-year growth in software license and maintenance revenue, closing its largest transaction of the year, a seven-figure deal with a global financial services firm, in the fourth quarter. In addition, Tideway added 30 new clients across a variety of industries, including Avis, Carphone Warehouse, ScanSafe and TransUnion. These new enterprise customers join the thousands of users who have downloaded the Tideway Foundation Community Edition since its launch in November 2008 to try the quickest way to cut IT costs and safely drive their data center transformation initiatives.

The first download of its kind, the Community Edition is a fully functional version of Tideway Foundation that discovers and maps complex physical and virtual data center assets and applications. Users can now deploy Foundation for free in their own environments and leverage the new green IT support available in Foundation 7.2. These features, which are now generally available, give organizations a single platform from which to analyze the carbon footprint of business applications, providing opportunities for power, cooling, and rack space efficiencies.

Tideway’s continuous growth and innovation garnered the company multiple prestigious industry awards throughout the year. In the fourth quarter, Tideway was recognized as a World Economic Forum Technology Pioneer 2009. One of only 15 IT companies selected in the world, Tideway was honored for its innovation and vision in IT management, potential market impact, and proven customer adoption. Tideway was also named a Red Herring 100 Top Global Company, recognized as one of the top 100 technology start-ups in the world.

“Winning our largest new client of the year during the most challenging fiscal quarter for many companies around the world is a testament to the real value Tideway Foundation delivers,” said Richard Muirhead, CEO and Founder of Tideway. “Tideway customers are able to achieve a new level of IT transparency that helps them drive down costs, generate rapid ROI and increase their data center efficiency. Our ability to continuously improve IT management bolsters our market position for 2009.”

Additional 2008 Company Highlights:
-Infrastructure Baseline Service. This turnkey, packaged service delivers a complete inventory of all physical and virtual configuration items, with guaranteed results in as little as 30 days
-Significant growth in the channel program via strategic partnerships with firms including ASG, Capgemini, Capita, Cisco, Computacenter, Compuware and USU
-Increased adoption across multiple verticals such as energy, outsourcers, pharmaceuticals, retail, and the public sector
-Penetration into new global markets with emergent activity in Germany, the Middle East and South Africa
-Industry recognition for Tideway customer deployments, including the 2008 InfoWorld 100 and 2008 Banker Technology award wins
-Voted Britain’s Fastest Growing Software Company by the Sunday Times Tech Track for the second consecutive year

About Tideway
Tideway helps get data center projects done – on time and on budget. Tideway Foundation™ software continuously maps application relationships to physical and virtual infrastructure, including the dependencies between them. This single, automated view of application topology takes the cost and risk out of data center migration, consolidation and virtualization projects, accelerating ROI. Clients include Dresdner Kleinwort, ING, Linklaters, Mizuho Bank and Wachovia. For more information, or to download the free, community edition of Tideway Foundation, visit www.tideway.com.

Contact:
Audra Tiner
Director, Marketing Communications
Tideway Systems
a.tiner@tideway.com
+1 212-905-8979

This release was published on openPR.