M-Tech Experiences Tremendous Quarterly Growth
M-Tech Declares Remarkable Client and Revenue Growth from the Sales of its Identity Management Suite in 3rd Quarter
Calgary, AB - October 10, 2006 - M-Tech Information Technology, Inc., a leading provider of identity management (IdM) solutions, is pleased to announce yet another record 3rd quarter as earnings increased from last quarter. A significant number of large customer wins, accelerated revenue growth associated mainly with the sales of M-Tech's user provisioning, access certification, and password management solutions, as well as continued profitability have contributed to M-Tech's ongoing success this year. Companies such as Nissan, Toyota, Manulife, Big Lots Stores, Shands Corporation, Spirit Aerosystems, BNFL and Zions Bank are just some of M-Tech's new clientele. M-Tech wins spread over multiple verticals, including healthcare, financial, government, technology and others.
To accommodate growing demand, M-Tech's workforce was expanded by 50% this year alone. Both the expansion of the customer base as well as far reaching developments and enhancements of its market leading technologies have warranted this growth.
In August, M-Tech successfully saw the launch of its newest website, Hitachi-ID.com/access-certifier for its user provisioning and access certification and audit software, ID-Certify. The site offers a central place for organizations to learn about ID-Certify -- M-Tech's unique solution for auditing user access and complying with HIPAA, SOX and other regulations. In March 2006, the opening of M-Tech's newest regional office in Montreal, Quebec, Canada was another testament to the company's expansion. In addition to supporting more user provisioning deployments, the Montreal office enabled M-Tech to extend services to customers across additional time zones. M-Tech integrated the Montreal office as a virtual extension to the Calgary head office service groups.
"We are extremely pleased with the record growth of M-Tech this quarter", says Gideon Shoham, Chief Executive Officer of M-Tech. "The key to our success lies in the growth and expansion of our new and existing products and client base, and the extensive consumer demand seeking to find provisioning and regulatory compliance solutions. We believe this is only a glimpse of what is to come as worldwide enterprises struggle to find solutions that will not only assist them with being fully compliant with increasing government regulations, but to see a rapid return on their investments".
M-Tech also saw growth in its partner activity over the past year. Increased revenues are now generated through reseller channels. M-Tech continued its dominance of the managed service providers IdM solutions market through large providers such as Microsoft, IBM Global Services, Siemens, CapGemini, CSC, EDS and Insight. These partners use M-Tech's IdM suite in managing IT services for millions of users worldwide.
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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