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Fortify Software Ends 2008 with Largest Quarter in Company History
Q4 2008 closes with record growth, bookings increase 80% over Q4 2007
By: Open Source News
Jan. 22, 2009 04:15 AM
Fortify Software announced that it achieved record growth in Q4 2008, finishing a strong fiscal year 2008 with the largest quarter in company history. Most notably, Fortify increased its bookings in Q4 2008 80% over Q4 2007. The company attributes its success to new business growth in the commercial and government sectors, adding 49 new customers in Q4 alone, growing their customer roster to more than 500 commercial enterprises and government agencies. In addition, Fortify saw the U.S. Air Force expand its purchase of Fortify solutions to over $11M, further increasing the industry's largest investment in software security.
Additional highlights from the quarter included the appointment of Jim Yares to Vice President of Global Services and the addition of new customer agreements with major global telcos, banks, insurance and pension companies, systems integrators and armed forces, including: Barclays, Halliburton, Vodafone, USBank, eBay, Inc., S1 Enterprise, China Construction Bank, Defense Logistics Agency, U.S. Army Knowledge Online, Armasuisse, Federal Reserve Bank of Atlanta, Conventry Building Society, Arval and Vonage.
In Q4 2008 Fortify expanded the market's largest investment in software security through continued customer agreements with the U.S. Air Force (USAF). In October 2007 the USAF - a leader in the Department of Defense's strategy for cyber security - purchased more than $7 million of Fortify's complete product portfolio to protect and monitor applications from attacks and other malicious activities. That investment now reaches over $11 million.
Fortify's record showing in Q4 finishes off what has been a strong 2008 overall. This year, Fortify marked the release of its software security product, Fortify 360, as well as made key additions to both its Board of Directors and executive team. The company continued its work in open source software security, expanding the Java Open Review to include more than 100 projects and releasing its "Open Source Security Study" on the state of open source software security. Fortify also continued its efforts around e-voting security, with 5 states making use of a free version of its security software to test their electronic voting machines, and with the release of "Voting in America," a report on the current state of U.S. voting systems.
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