DUBLIN, Ireland – January 8, 2008 – Openet experienced a banner year in 2007, highlighted by considerable adoption and growth of its Transactional Intelligence solutions by an expanding customer roster consisting of the world’s largest and most innovative service providers. Openet’s key role in Tier 1 customer innovation and implementation of next-generation services over the past year is setting the stage for successful market adoption of the next wave of Openet’s offerings that will continue to advance customer revenue and service opportunities.
The Company’s solution-centric model drove growth for both products and services in 2007. The FusionWorks Platform™
for event processing and transaction management serves as the foundation for a fully customizable and flexible software solution, with impressive results. This year, Openet’s top five customers together processed more than ten billion records per day using FusionWorks, and Openet predicts that this volume will quadruple in the next 24 months. 2007 was a key year for new and existing customer growth, as Openet closed 28 new licensing deals and upgrades for FusionWorks.
Openet also introduced a new data retention solution for lawful surveillance in 2007. As a result of a partnership with ETI Connect, Openet can now meet the compliance needs of providers for obtaining, storing and reporting transactional information to meet data retention legislation. The joint solution fully complies with laws regulating the retention and delivery of historical data to law enforcement agencies.
In addition, growth is up on the service side of Openet. Responsible for developing client business solutions built on Openet’s FusionWorks Platform, the Professional Services Group worked 115 contracts over the course of the year. Additionally, Openet captured 49 new, renewed and increased contracts covering 53 deployments—proving Openet’s ongoing value to its customer base.
The Company’s relatively new managed services offering is also taking off. This group equips service providers and network operators with onsite resources for operational planning, systems administration and systems engineering on a short- or long-term basis, meaning that these functions can be brought completely in house; totally outsourced to Openet; or anything in between. Still in its infancy, the Managed Services Group executed five engagements in 2007.
Openet is not only looking back on 2007, but ahead to 2008 and beyond. Customer needs have prompted Openet to think about next-generation business control: the ability to obtain greater network control by deploying policy solutions in conjunction with charging, rating and other solutions. Due to the rise in third-party application delivery and the shift from closed to open networks and devices, service providers are now requiring in-session transactions for service delivery—and Openet’s solution suite can, and will, deliver this functionality to service providers in 2008. The outcome is that operators will gain the ability to dynamically control what happens on their networks to generate more revenue and improve the customer experience.
“Through a combination of innovation, focus and execution, Openet experienced rapid and sustained growth for both its existing and new products and cutting-edge services in 2007. We’re a company on the upswing,” said Niall Norton, CEO for Openet. “Service providers should keep an eye on the horizon to see what we’ll be enabling them to do next, and competitors should know that Openet is setting the bar—and the market agenda—for 2008.”
Openet is a leading worldwide provider of event processing and transaction management solutions. The Transactional Intelligence of the company's solutions extracts increased value from diverse service provider networks, enabling rapid introduction of new services and reliable, cost-effective management of existing services. Openet is focused on delivering best-in-class network edge solutions and specialized engagement processes that create business value from network activity. A global company, Openet's implementations include long-running engagements with the world's leading service providers such as British Telecom, Orange, AT&T and Verizon Wireless. For more information, visit www.openet.com