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Mark Allen, CEO
Corticon Extends Business Rules Market Leadership and Growth
Redwood City, CA, January 29, 2009 -- Corticon Technologies®, (www.corticon.com), the only model-driven Business Rules Management Systems (BRMS) vendor, today announced that it has sustained its aggressive growth in direct customer acquisition and revenue during fiscal year 2008, with growth over three times the industry average of 11.4%, according to IDC research*. Corticon is a privately held corporation.
"The highlight of our year was our direct sales execution," said Dr. Mark Allen, founder and CEO of Corticon. "We have added a significant number of new enterprise accounts across a broad range of industries, and are aggressively expanding our direct sales activities in 2009."
Key highlights that contributed to Corticon's progress include:
- Financial: Corticon's direct sales and maintenance revenue increased by 35% year over year in 2008, significantly outpacing the industry.
- Customer: Corticon increased its customer base with over 100 new customers (compared to 70 in fiscal 2007). 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 S1 (Nasdaq: SONE), Spirent (LSE: SPT), Northrop Grumman (NYSE: NOC), and Patni Computer Systems Ltd. (NYSE: PTI) and others.
- New Solutions: Corticon latest BRMS product release included support for advanced inferencing and native .NET execution. Corticon has long been recognized as the easiest to use BRMS product, but now is recognized as providing one of the most comprehensive solutions. In addition, Corticon announced the availability of its Automated Customer Acquisition solution designed to help organizations acquire new customers in insurance and banking.
- Market Validation: Corticon was recognized as a leader in Business Rules Platforms by prominent Independent Research Firm Forrester Research, who recognized Corticon's "groundbreaking environment for business analysts" and expanded offerings for Java and .NET Developers.**
"I am most proud about the success our customers realize with Corticon products. Recent customer comparisons to first-generation BRMS products suggest that Corticon customers benefit from an order of magnitude productivity improvement, while greatly increasing business agility and control," says Allen. "Considering the need to do more with less, Corticon's significantly lower total cost of ownership and ten-fold increase in productivity will help our customers weather the challenges ahead."
About Corticon® Technologies
Corticon Technologies delivers Business Rules Management solutions that unleash "The Power of Decisions™" as enterprise assets. Many of the world's most successful organizations rely on Corticon to discover, model, execute and improve operational decisions (and associated business rules) within their enterprise systems. Corticon's patented BRM System 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 decisions. Corticon is a privately held company headquartered in Redwood City, Calif., with European headquarters in The Netherlands, worldwide distribution through local Corticon offices, and an extensive partner network. Corticon's products are in use today at many of the world's largest banks, insurance companies, media companies, telecommunication providers and government agencies, collectively automating millions of decisions per day. For more information, please visit www.corticon.com.
*Worldwide Business Rules Management Systems 2008-2012 Forecast and 2007 Vendor Share, IDC # 214643, October 2008.
** The Forrester Wave™: Business Rules Platforms, Q2 2008, Forrester Research, April 2008.
Corticon Contact:Samira Abrari
Corticon Technologies, Inc.
+1 650.212.2424, ext. 247
samira.abrari@corticon.com
