Company acquires new large enterprise customers and grows revenue more than 450 percent to $29.9 million to take the lead in SOA infrastructure
SANTA MONICA, Calif.— January 23, 2006—SOA Software, the leading provider of comprehensive SOA and Web services management, security and governance solutions, today announced its financial results for fiscal year 2005. The company delivered revenues of $29.9 million, showing more than 450 percent growth over 2004.
“We are very proud of the performance of the whole company through 2005,” said Paul Gigg, president and CEO of SOA Software. “We expanded the breadth of our products, added new corporate accounts and are delivering real world solutions to our customers. This is only the beginning and we fully expect to continue to win large accounts and maintain our rapid growth throughout 2006.”
During 2005 SOA Software added 74 new customers including AARP, Dominion, JetBlue, Merrill Lynch, Reynolds and Reynolds, Tyco and many others. This performance puts SOA Software into a different class from its competitors, providing large enterprises with the option to work with a financially stable vendor that has a comprehensive and advanced SOA infrastructure solution.
2005 also saw SOA Software expand its product portfolio with the acquisition of the X4ML mainframe Web services platform from Merrill Lynch. This product was renamed SOLA (Service Oriented Legacy Architecture), introduced in December 2005 and it will be shipping in the first quarter of 2006. This product will extend our revenue growth this year with a complete value proposition for SOA customers from distributed enterprise to mainframes. Now, SOA Software has solutions for SOA service management, SOA Registry, SOA XML VPN and SOA Mainframe Web services.
The company also strengthened its partnerships with industry leaders; it won large enterprise deals with IBM, was part of BEA’s AquaLogic product launch, Oracle’s Fusion Middleware launch and formalized its status as a CA technology partner.