[May 08, 2013]

Modulo Appoints Steve Gant as North America Managing Director and Reports Record Momentum

Modulo, a leading provider of Governance, Risk and Compliance (GRC) solutions, announced today the appointment of industry veteran Steve Gant to the executive leadership team as Managing Director of North America. Among other industry successes, Gant played an instrumental role in the rapid growth of Internet Security Systems (News - Alert) (ISS), now a part of IBM. He will be responsible for expanding the operations of Modulo in North America, as well as building strategic corporate and business development partnerships and initiatives.

Modulo also announced 40% year-over-year revenue growth in 2012 fueled by marquee client wins and the demand for integrated solutions in IT GRC, Enterprise GRC and "expanded GRC" including Physical and Operational Technology and Business Continuity Management. Modulo uniquely enables organizations to harmonize data across these domains by mapping their assets, both IT and non-IT, to business processes for risk analytics and risk-based decision making. CISOs, CIOs, CSOs, CPOs and CROs use Modulo to address increasing cyber threats, compliance mandates and operational efficiency requirements.

Modulo's adoption in key industry sectors - financial services, energy, higher education and healthcare - is distinguished by new customers such as: ARC: Financial Transaction Processing and Settlements for the Travel Industry; Enbridge: Energy Delivery Company in North America; Fordham University: Private University in New York City; Incomm: Prepaid Products, Services and Transaction Technologies; FMC Technologies: Global provider of technology solutions for the energy industry; SagePay: Global Payment Processing Solutions.

"Modulo now has over 600 clients worldwide and has seen a tremendous surge in demand over the past year both withi the private industry and federal government. We have built a solid foundation in North America, and we are poised to complement this with Steve's strategy and leadership skills to take Modulo to the next level in 2013 and beyond," said Sergio Thompson-Flores, CEO, Modulo.

Gant brings extensive leadership and experience in information security, virtualization, software and communications to Modulo. In addition to running his own highly successful M&A and start-up advisory consulting company, Gant served as Vice President of Business Development and Product Management at Internet Security Systems (ISS), now a part of IBM. Internationally, he also served as the VP of Worldwide Consulting and Education as well as VP of Latin American Operations for ISS and worked with Galaxy DirecTV Latin America and DirecTV Japan as an international account executive for General Instrument-MCS, now part of Motorola.

"GRC is a critically important market that is rapidly evolving and represents significant untapped potential. I am excited to bring my skills to Modulo, who is already recognized for its strong product and customer innovation, and guide the company through this pivotal point in its growth and this dynamic market opportunity," added Gant.

Modulo also achieved these milestones:

• Named 2012 Innovator of the Year and 2012 Best Buy (News - Alert) by SC Magazine
• Major new version of Modulo Risk Manager, V8.0: Expanded solutions to cover emerging use cases including Vulnerability & Threat Management, Vendor Risk Management, Business Continuity Management, Cyber Defense and Critical Infrastructure
• Innovations in integrating mobile, social and big data into a GRC system for risk assessments, real-time situational awareness and decision making
• New technology partner integrations with tools for security operations including vulnerability management and SIEMs, physical security, operational technology, analytics & BI
• New strategic technology consulting partners leveraging Modulo to deliver GRC services to their large customer bases
  New academia, industry and government research partners helping define GRC needs for SCADA and other Critical Infrastructure environments
• 40% year-over-year revenue growth with increase in software and SaaS (News - Alert) sales
• Staff additions in North America, EMEA and APAC
• 50% of existing customers expanding use of Modulo Risk Manager within other areas of their organizations

About Modulo

Modulo is a leading global enterprise provider of comprehensive Governance, Risk and Compliance (GRC) management solutions. Modulo's award-winning Risk Manager™ provides hundreds of organizations worldwide with the tools they need to automate the entire GRC management process to monitor, manage and sustain adherence to policy and regulations while reducing enterprise risk and complexity. Customers span the financial, health care, retail, telecom, power & gas and government sectors and include BASF, BC Hydro, Commercial Bank of Dubai, Microsoft, New York University Medical Center, Synovus Financial, and Schlumberger (News - Alert). Modulo has earned industry recognition as a 2012 Innovator of the Year from SC Magazine; "Best Buy" and "5-Star" in SC Magazine's risk management group product reviews for two consecutive years (2012 and 2011); finalist in SC Magazine Excellence Awards for two consecutive years (2012 and 2011); and winner of the Info Security Products Guide Global Excellence Awards and Network Products Guide Product Innovation Award.

Visit www.modulo.com and follow Modulo on Twitter (News - Alert) @moduloitgrc.

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