M-Tech Maintains Solid Growth Results in Q1 and Q2 of 2007
Customer wins and strong financial performance showcase M-Tech's ability to deliver in the identity management software market
September 4, 2007 - Calgary, Alberta, Canada - M-Tech Information Technology, Inc., a leading provider of identity management software, today announced a second consecutive increase in quarterly revenue and net income in 2007. Customers licensed M-Tech identity management products for 700,000 new users in Q1 and Q2 2007. The steady growth continues to support solid financial performance.
New M-Tech customers in Q1 and Q2 spanned multiple verticals, including government, healthcare, finance, education and retail.
M-Tech also recorded record growth in competitive replacement business with several new customers licensing M-Tech software to replace competitor products after experiencing deployment challenges.
A sample of new M-Tech software licensees includes Avon Products Inc, Citicorp Credit Services Ltd, Cisco Systems, Delphi Corporation, Estee Lauder Inc, Kmart, St. Joseph HealthCare Inc, and the Federal Aviation Administration. Customer organizations ranged in size from a few thousand to over 200,000 users.
During the first half of 2007, M-Tech introduced numerous enhancements to its identity management suite, including the first general availability (GA) release of ID-Archive, an enterprise-class solution for securing sensitive administrator passwords. Also released was a new version of ID-Access to manage group membership and a beta release of P-Synch/SSO, a low cost enterprise single sign on product.
New versions of M-Tech's leading identity management products, P-Synch and ID-Synch, were also released in the first half of 2007.
"M-Tech's financial health affords us the ability to continually invest in technology R&D and maintain our technological lead in the marketplace," said Gideon Shoham, M-Tech CEO. "M-Tech employs the industry's best customer support team. The result of combining leading technology coupled with unparalleled customer service is customer satisfaction, high renewal rates and a strong reference base," he added.
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