"We needed a SIM solution that delivers high performance across vendor security devices and scalability across a rapidly expanding international network. netForensics has been invaluable."
Frank Perrin,
Managed Security Services Center,
Thales Secure Solutions
netForensics Reports Record Third Quarter Revenue Growth
50 Percent Year-Over-Year Growth Attributed to Increased Demand and Deployments
of netForensics' Security Information & Event Management Solution
EDISON, NJ – December 11, 2008 – netForensics, Inc., a leader in the Information Security Management market, today announced that third quarter revenue has increased 50 percent year-over-year, underscoring netForensics' continued strength and competitiveness in the market. The primary driver of this significant revenue increase is the sales of nFX Security Information Management (SIM) One, a solution that enables enterprises of all sizes to centrally collect and manage security and network data to rapidly identify and respond to threats while addressing compliance challenges. Third quarter highlights include:
- An increase in customer acquisition; more than a dozen new customers from across multiple industries and markets in the U.S., Europe and Asia, were added, bringing the worldwide customer base to over 500.
- 98 percent renewal rate; netForensics renewed 98 percent of customers who were up for renewal in Q3, demonstrating their high levels of satisfaction with netForensics products and services.
- Product expansion; netForensics shipped 20 new and updated collectors that expand coverage of multi-system environments, providing customers real-time visibility into complex environments.
- Managed Services Provider (MSP) program growth; netForensics enables MSPs to develop and roll out new security and compliance offerings. The company experienced several key wins in this area including a competitive selection by Rackspace, a leading hosting provider to help its customers meet PCI log management compliance requirements. With the company's increased focus on the MSP market, adoption for nFX SIM One is expected to increase significantly moving into 2009.
"We continue to reach our growth milestones even in a tough economy. Our focus for the third quarter was on customers, product portfolio and the growth of netForensics' market presence," said Dale Cline, president and CEO of netForensics. "We excelled in each area and are very pleased with the results. We look forward to continued growth in the coming year."
About netForensics
netForensics delivers security compliance management solutions that help stop the ever-increasing attacks that threaten organizations. Through its patented nFX technology, netForensics not only solves security compliance challenges, but provides the proof needed to address the myriad of regulatory and internal governance requirements. The netForensics' suite of nFX One products provides solutions to address external and internal threats, mitigation, log management and reporting. Governments and companies of all sizes around the world rely on netForensics to gain unparalleled information security management visibility, prevent costly downtime, and maintain compliant operations. For more information, visit: http://www.netforensics.com/.
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Press Contact:
Nicole Nolte
Welz & Weisel Communications
P: 703-218-3555
nicole@w2comm.com
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