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mValent Accelerates Momentum with Record Sales and Strong Customer Acquisition
WALTHAM, Mass. --(Business Wire)-- mValent, Inc. (http://www.mvalent.com) accelerated its leadership position in the application configuration management software market as it today announced significant momentum with record sales, strong customer adoption, new technology innovation, and acclaim from customers, partners, and industry analysts alike. mValent has grown revenues more than 125% over the previous fiscal year, added 15 new Fortune 1000 customers, and received repeat transactions from more than one-third of its existing enterprise-class customers.
"mValent uniquely solves one of the most burdensome challenges IT faces in rolling out applications to end users by giving IT teams the ability to manage all aspects of application infrastructure configuration management, simply and automatically," said Joe Forgione, President and Chief Executive Officer, mValent, Inc. "Our success with new and existing Fortune 1000 customers is testament to our ability to enable greater application uptime, fewer IT fire drills, and simplified compliance. We are very proud of the growth in our new customer ramp as well as the continued expansion with our existing install base. We expect this growth rate to continue, assisted by the recent availability of our Virtual Automation Module for mValent Integrity(TM) and reseller relationship with HP."
"Many factors are driving organizations to redesign their configuration management processes, including compliance, agility, improved availability, virtualization and improved quality of service, as well as operational issues regarding lack of standards," explained Ronni Colville Gartner VP and Distinguished Analyst in the March 2008 Gartner report entitled "Establishing Processes for Configuration Management." Moreover, "Without accurate configuration management, other processes won't be visible in the real-time configuration view of the infrastructure."
mValent Corporate and Customer Accomplishments and Accolades:
-- Grew revenue by 125% over the past twelve months compared to this time last year.
-- Expanded customer base by adding 15 new Fortune 1000 customers. Particularly strong adoption came from key vertical markets including financial services securing new accounts such as Citigroup, Lehman Brothers, Liberty Mutual Insurance Company among others.
-- Strengthened install base. More than one-third of existing customers purchased additional software licenses, demonstrating the value of automating and managing the processes required to find, fix, release and report on software configuration changes across distributed and legacy applications.
-- Expanded relationship with HP Software. HP Software became an authorized reseller of mValent Integrity following its September 2007 acquisition of Opsware. mValent continues to be HP's Premier Partner for Application Release & Configuration Management in its Universal CMDB Ecosystem Program.
-- Named to Network World's "Ten Automation Companies to Watch" list published on June 25, 2007 for delivering automation technologies designed to help IT managers move toward fully automated IT operations.
-- Named to Network World's 2007 "10 Tech Start-ups That Should Matter" list published on December 28, 2007. Throughout 2007, Network World designated 90 start-ups that it deemed worth watching. In its December 24, 2007 issue, the publication narrowed that list to 10 companies that offer critical IT value to the enterprise, including agility, seamless integration and pervasive connectivity.
-- Cited as a 'Strong Performer' in Forrester Research's April 2008 Forrester Wave(TM): Data Center Automation, Q2 2008 report.
mValent Product Accomplishments and Accolades:
-- Extended award-winning automated application configuration management to virtualized environments with the availability of the mValent Integrity Virtual Automation Module.
-- Delivered mValent Integrity v5 with advanced capabilities for provisioning configuration settings simultaneously to large-scale distributed environments, detecting and managing configuration changes and in-depth change reporting for IT audit and compliance.
-- Extended market-leading mValent Integrity platform for managing application configuration, change and release management to Microsoft(R) Windows(R) Server-based application infrastructures.
-- mValent Integrity was recognized among data center automation (DCA) products in Forrester Research's April 2008 Forrester Wave(TM): Data Center Automation, Q2 2008 report as being the right choice "for managing configurations and automating migrations and workflow processes on application servers."
About mValent Integrity
mValent Integrity provides IT infrastructure teams with an automated, repeatable, process-driven "gold master" approach to application configuration management that enables smooth delivery and support of business applications. The software delivers powerful features for configuration, change and release management as well as audit and compliance initiatives across physical and virtual application environments. The result is improved application uptime, fewer IT fire drills, and simplified compliance with industry best practices and regulatory mandates. mValent Integrity customers include leading companies such as Alltel Wireless, State Street Bank and Circuit City.
About mValent
mValent tackles IT complexity and compliance with automation software that eliminates configuration management chaos in application infrastructure. The company's flagship product, mValent Integrity, automates application configuration management and is used by leading organizations to manage the build and maintenance of complex application configurations throughout their entire lifecycle - from development to production. The company was selected as one of Network World's 2007 "10 Tech Start-ups That Should Matter." mValent is located in Waltham, Massachusetts and is backed by top-tier venture capital firms, including Flybridge Capital Partners (formerly IDG Ventures) and Polaris Venture Partners. For more information, visit http://www.mvalent.com.
mValent and the mValent logo are trademarks or registered trademarks of mValent, Inc. in the United States. All other trademarks contained herein are the properties of their respective owners.
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