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OpenSpan Achieves Sixth Consecutive Quarter of Record Revenue Growth

Increased Adoption within Financial Services, Telecommunications and Contact Center Markets Fuels Growth

OpenSpan announced record revenue for the sixth consecutive quarter. In addition, the company announced that revenues in the first half of 2008 exceeded those for all of 2007 and were fueled by several million dollar-plus deals that progressed from successful proof-of-concept and pilot projects to full production deployments. The record OpenSpan revenues were generated from a growing installed customer base as well as from more than a dozen new customers in the contact center, financial services, telecommunications and high tech markets.

Most significantly, OpenSpan continued to establish itself as a global software company with the resources and products necessary to support a growing worldwide customer base. OpenSpan has sold over 75,000 seats in the past 18 months and expects to double this amount over the next 12 months. To support this continued expansion, OpenSpan closed a $13 million round of venture funding and hired Eric Musser as its new CEO. OpenSpan also hired software industry veteran Steve Raby to lead and establish the company’s burgeoning EMEA presence.

OpenSpan experienced an especially dramatic increase in revenues during the past six months from enterprises within the global financial services industry. During a time of challenging economic conditions, OpenSpan has delivered rapid and substantive value for financial services enterprises; enabling them to integrate, automate and extend their software applications to drive productivity gains, improve customer service and increase revenues through enhanced up-selling practices.

“Customers continue to see the near immediate value of the OpenSpan Platform to streamline business processes and improve productivity for their employees,” said Eric Musser, CEO, OpenSpan. “Our tremendous financial success in the first half of 2008 is a testament to the hard work of our employees and the proven benefits of our technology. We plan to continue to invest in our future growth, bringing our customers more powerful platforms to accelerate their SOA deployments and streamline operations across entire organizations.”

In order to ensure speedy implementations and a high level of customer care to its growing global customer base, OpenSpan has established partnerships with software vendors and systems integrators in key markets. The company has announced new relationships with Oracle worldwide, as well as several European and Middle Eastern partners including Project Brokers, Malam Team and Workstream. The company also announced a new OEM relationship with Initiate Systems to improve interoperability with leading healthcare systems.

OpenSpan has received several prestigious industry awards in 2008, including the 2008 SIIA CODiE Award for Software Newcomer of the Year and 2008 Editors’ Choice Award from Redmond magazine. In addition, OpenSpan recently added significant new functionality to the OpenSpan Platform, which now offers enhanced SOA support and the ability to service-enable nearly any desktop, legacy or Web-based application.

For more information on OpenSpan contact Chris Poisson, [email protected] at Schwartz Communications.

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SOA World Magazine News Desk trawls the world of distributed computing and SOA-related developments for the latest word on technologies, standards, products, and services and brings key information to you in a timely and convenient summary form.

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