Record Growth in 2005 Continues M-Tech's Leadership in the Identity Management Market
M-Tech's Growth is Attributed to Record Revenue, Expanded Partnerships and Multiple User Provisioning Deployments
Calgary, AB - January 3, 2006 - M-Tech Information Technology, Inc. a leading provider of identity management (IdM) solutions, is pleased to announce record results for calendar 2005. Increased demand for M-Tech's user provisioning and regulatory compliance solutions and expansion of M-Tech's partner network have fueled record growth in the sales of licenses of the Hitachi ID Management Suite.
In 2005, M-Tech's revenue increased by 50%, marking the 52nd consecutive profitable quarter. Cutting edge technologies, best-in-class customer support and rapid deployments have all contributed to M-Tech's leadership position in the IdM sector.
While revenue growth in 2005 was supported by significant headcount growth, M-Tech continues to seek talented individuals to join its team. "We are delighted with M-Tech's results for 2005," says Gideon Shoham, M-Tech CEO. "We are confident that this momentum will continue into 2006 and 2007, and we are growing our team to support the anticipated expansion. M-Tech is committed to providing our customers with the most complete, flexible and deployable IdM solutions while maintaining superb customer support," added Shoham.
The percentage of revenue generated with partners continued to grow in 2005. Managed service providers in particular have become a more significant contributor to M-Tech's revenues. Major MSPs such as CSC, EDS, Northrop Grumman, Compucom and Cap Gemini, all chose M-Tech's solutions as they offer the lowest TCO and fastest return on investment.
During 2005, M-Tech signed up over 100 new customers and is now helping over 550 organizations meet regulatory requirements and lower provisioning administration costs. Organizations that licensed M-Tech products in 2005 include Amerisource, Central Parking Corporation, Embry Riddle Aeronautical University, GSA, Hospira, Independence Blue Cross, Kuoni Travel, McAfee Inc., Nisource, Princeton University, Swift and Company, and Sybase Inc.
In 2005, M-Tech also reached a number of important product development milestones by releasing:
- ID-Synch 4.0, including new connectors, an overhauled user interface, improved workflow and tighter suite integration.
- P-Synch/SSO, M-Tech's unique and low-cost enterprise single sign-on system, in beta version.
- ID-Org, which helps organizations to efficiently and reliably build and maintain orgcharts required for many other identity management functions.
About M-Tech Information Technology, Inc.
Hitachi ID Systems, Inc. is a leading provider of identity and access management solutions. Hitachi ID software helps almost 1000 organizations with over 12 million combined users meet security, internal control, regulatory compliance, IT cost reduction and user service objectives.
Hitachi ID Management Suite includes Identity Manager http://Hitachi-ID.com/identity-manager/, Password Manager http://Hitachi-ID.com/password-manager/ and Privileged Access Manager http://Hitachi-ID.com/privileged-access-manager/. These products manage identities, entitlements and authentication factors across both on-premise and SaaS applications in the cloud.
Industry analyst Ovum Consulting recently recognized Hitachi ID Systems as an enterprise identity and access management powerhouse, citing the company's robust technology and exemplary customer support. Ovum “believes that Hitachi ID's focus on reducing the administrative and helpdesk burden and the company's focus on bottom-up IAM reflects the way in which organizations operate.”
For more information about Hitachi ID Systems and its products, please visit http://Hitachi-ID.com/ or call 1.403.233.0740.
Hitachi ID Systems, Inc.
500, 1401 1st Street S.E
Calgary, AB T2G 2J3
1.403.233.0740 ext. 324
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