Policy Management – Openet Drives 60 Percent Revenue Growth Over 2009
February 1, 2011 - Openet
Openet, a provider of Subscriber Optimization Software to tier one communications and media service providers, has achieved significant corporate growth in key areas in 2010.
The company’s 2010 revenue was up by more than 60 percent over 2009, with a CAGR through two years of 55 percent.
Officials with Openet (News - Alert) said that increased revenues, solid market traction and the establishment of critical customer and partner relationships contributed to the company’s success last year.
“2010 was another year of growth and innovation for Openet, and it shows in every aspect, from our financials to our traction in policy management to our involvement with charging for the iPad,” said Niall Norton, CEO of Openet.
Norton said that the development in business across the U.S. and Canada, as well as emerging regions of APAC and Africa, sets the stage for further growth in 2011.
“Overall, Openet is positioned to further strengthen its global presence in 2011,” he added.
Company officials said that new devices and higher speed technologies have combined to generate real-time transaction management and network congestion challenges that drew attention in 2010, which in turn has spurred significant market interest in Openet overall, especially in policy management.
As a result of having a powerful product to meet policy demand, Openet secured or furthered strategic partnerships with Cisco (News - Alert), Allot and VPI Systems.
The company also landed customers in South Africa, Indonesia, Brazil and the Netherlands.
It also announced European customer wins with Orange (News - Alert) France and Meteor for policy and charging/rating, respectively.
Company officials pointed out that in emerging verticals, Openet further developed its partnership with IBM (News - Alert), and announced that it is one of IBM’s key partners for its emerging Cloud business.
Openet also expanded its leadership team across finance, services, support, product development and sales, setting the stage for company-wide growth.