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Attributes Strong ROI of its Software Production Management Solutions to its 7,670 Percent Revenue Growth
Sunnyvale, Calif., November 4, 2008 — Electric Cloud, the leading provider of software production management (SPM) solutions, announced today that it has been named to Deloitte's Technology Fast 50 Program for Silicon Valley Software and Information Technology (IT) companies. This year's Silicon Valley Technology Fast 50 program is co-presented by Deloitte, Silicon Valley Bank, Korn/Ferry International, Cooley Godward Kronish LLP, Cornish & Carey Client Solutions, and ABD Insurance and Financial Services - A Wells Fargo Company. Rankings are based on the percentage revenue growth over five years from fiscal year 2003-2007.
Electric Cloud's CEO Mike Maciag credits the proven ROI of its SPM software and a growing market need for solutions to manage the software development build-test-deploy phase with company's 7,670 percent revenue growth from fiscal year 2003-2007. Maciag said, "We are thrilled to be recognized as the eighth fastest growing software and IT company in the Silicon Valley. This ranking comes on the heels of Electric Cloud's first Customer Summit, a hugely successful event attended by many of the world's leading software vendors, that clearly demonstrated the growing need for solutions that can speed development cycles and create better quality code."
"Deloitte's Silicon Valley Technology Fast 50 companies have shown the strength, vision and tenacity to succeed in today's very competitive technology environment," said Mark Jensen, Managing Partner, National Venture Capital Services, Deloitte & Touche LLP, in Silicon Valley. "We applaud the successes of Electric Cloud and acknowledge it as one of the very few to accomplish such a fast growth rate over the past five years."
Electric Cloud offers a full line of SPM solutions, including ElectricAccelerator®, ElectricCommander® and ElectricInsight®, for accelerating, automating and analyzing the "back end" of the software development process, or the build-test-deploy phase.
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in fiscal year 2003 and $5,000,000 in fiscal year 2007, be headquartered in the San Francisco Bay Area, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify.
Companies from the regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte's Technology Fast 500 program, which ranks North America's top 500 fastest growing technology, media, telecommunications and life sciences companies. For more information on Deloitte's Technology Fast 50 or Technology Fast 500 programs, visit www.fast500.com.
About Electric Cloud
Electric Cloud is the leading provider of software production management (SPM) solutions. Electric Cloud solutions automate, accelerate and analyze software build-test-deploy processes to optimize both physical and virtual IT environments. The company's patented and award-winning products help development organizations to speed time to market, boost developer productivity, and improve software quality. Leading companies across a variety of industries, including semiconductors, enterprise IT, ISVs, mobile devices, and transactional Web sites rely on Electric Cloud's Software Production Management solutions to transform software production from a liability to a competitive advantage. For customer inquiries please contact Electric Cloud at (408) 419-4300 or www.electric-cloud.com.
About Deloitte
As used in this document, "Deloitte" means Deloitte LLP. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.
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