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Corticon Technologies Continues to Outpace Industry Growth Rate in the Business Rules Management Systems Software Market
Record Company Revenue, New Customers and Partners
REDWOOD CITY, Calif., October 23, 2007 - Corticon® Technologies (www.corticon.com), a leader in model-driven Business Rules Management Systems (BRMS), today announced that it has sustained its aggressive growth in new customer acquisition and revenue during fiscal year 2007. From 2004-2006, based on IDC research*, Corticon's compound annual growth rate (CAGR) has grown 4 times faster than the overall CAGR for the business rules management system market of 19.1%. Corticon is a privately held corporation.
"We continue to see increasing demand for Corticon products and services within the business rules market, which has supported solid growth for Corticon," said Dr. Mark Allen, founder and CEO of Corticon. "Corticon has significantly expanded our regional sales force to complement our strong alliance partners, including several large software and solutions providers. This has supported our continued growth; providing additional local personnel who have proven valuable in establishing and mentoring our customer relationships. During 2007, Corticon doubled our headcount with major investments in sales, marketing and professional services. Corticon has regional sales operations across North America and has opened its first offices in Europe earlier in the year."
Key highlights which contributed to Corticon's progress include:
•Financial: Corticon's compounded annual growth rate (CAGR) in new business bookings over the 4-year period ending August 31, 2007 was 77%.
•Customer: Corticon increased its customer base with over 70 new customers (compared to 40 in fiscal 2006). Corticon's customers are primarily Fortune 500 companies, with concentration in financial services, telecommunications, government and insurance and with a broad geographic distribution.
•Partners: Corticon established important new or expanded partnerships and joint customers wins with Adobe Systems, Inc (Nasdaq: ADBE), Electronic Data Systems Corp. (NYSE: EDS), Global360 Inc, IBM (NYSE: IBM), IDS Scheer (Frankfurt/Main: IDS), Infosys Technologies Ltd. (Nasdaq: INFY), NIIT Technologies, Satyam Computer Services Ltd. (NYSE: SAY) and others.
•CorticonCertified: Corticon introduced the CorticonCertified program. A first for business rules vendors, this program provides two levels of certification across four disciplines (modeling business rules, integrating business rules into enterprise applications, supporting Corticon solutions and providing training on Corticon solutions). In the first quarter after the program was launched, new certified customers and partners included First Consulting Group, Global360, IBM, IDS Scheer, Infosys Technologies Ltd, NIIT Technologies, ProRules LLC and Satyam Computer Services Ltd.
•New Solutions: Corticon announced the availability of its Legacy Modernization solution designed to help large organizations transform the business rules within their rigid legacy applications into modern, agile systems based on the Corticon Business Rules Management System. This solution was delivered in partnership with leading technology from partner Trinity Millennium Group.
•Product:: In 2007 Corticon delivered the first completely embeddable business rules management platform (Corticon Business Rules Foundation), enabling software developers to build decision automation and business rules modeling directly into their own application interfaces and manage their business rules from within their repository. Corticon Release 5, scheduled to debut in FY'08, has been built on top of Corticon Foundation.
•Market Validation: Corticon received the "IBM SOA Specialty Certification" and "Designed for EMC Documentum" accreditation for meeting rigorous technical and business requirements in integrating Corticon's Business Rules Management System with IBM and EMC products. In addition, the company was named for the second consecutive year, as a Jolt Productivity Winner by Dr. Dobbs Journal.
"I believe that there are significant opportunities to grow Corticon via deeper penetration into key verticals as well as geographical expansion," says Allen. "Our accomplishments in 2007 position us to achieve another record year of growth in 2008 and beyond."
*Worldwide Business Rules Management Systems 2007-2011 Forecast and 2006 Vendor Share, IDC #208989, October 2007
About Corticon Technologies, Inc. Corticon's Business Rules Management System gives companies the ability to model and automate recurring decisions within their enterprise systems. Many of the world's most successful organizations rely on Corticon-powered solutions to drive IT efficiencies and operational excellence through decision automation. Consistently recognized as a leading rules vendor by industry analysts and thought leaders, Corticon's patented BRMS is the only solution with a model-driven design environment that guarantees the consistent, efficient and reliable execution of a company's business rules and policies.
Corticon is a privately held company headquartered in Redwood Shores, CA, with worldwide distribution through an extensive partner network. Corticon's products are in use today at many of the world's largest banks, insurance carriers, media companies, telecom providers and government organizations, collectively automating millions of decisions per day. Corticon can be reached at www.corticon.com or at +1-650-212-2424
