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Press Releases 2008
eIQnetworks Reports 120% Year-Over-Year Revenue Growth and a Profitable
Third Quarter Fiscal 2008
SecureVue platform continues to build enterprise momentum;
average deal size reaches six-figure range
ACTON, Mass. – March 4, 2008 – eIQnetworks®,
Inc., a global provider of integrated security, risk and
audit management solutions, today reported continued profitability
and revenue growth of more than 120% for third quarter fiscal 2008
over third quarter fiscal 2007. The increase was driven by continued
enterprise demand – and a significant rise in the average deal size
– for the company’s flagship SecureVue®
platform.
“This past quarter was very positive for eIQ on all fronts, as
we closed a record number of revenue transactions and pushed
the average deal size into the six-figure range,” said Vijay
Basani, CEO at eIQnetworks. “In the current economic
environment, we are increasingly winning against traditional
log-based SIM vendors by delivering industry best TCO via a
consolidated security, risk and audit management platform.”
Enterprise Demand Continues to Grow
Due to global enterprise sales momentum for SecureVue, eIQ
expanded its worldwide sales force by 30% during the third
quarter and plans to continue to increase it by 10-to-20% each
quarter for the foreseeable future. eIQ also established a new
office in London and closed numerous deals in the EMEA region,
including The North Western Deanery of the UK’s National
Health Service. Finally, eIQ extended its management team with
the newly-created position of IT governance, risk and
compliance (GRC) evangelist.
Average Deal Size Reaches Six-Figure Range
The size of eIQ’s average enterprise sale climbed into the
six-figure range on the strength of the company’s flagship
SecureVue solution, which combines enterprise security
management and IT GRC onto a single platform. “Companies are
realizing that unifying a broader range of security and
compliance data is necessary to successfully and efficiently
manage IT risk,” said Basani.
Industry Recognition Builds
During the third quarter, SecureVue garnered numerous
accolades by leading industry reviewers and associations.
Business portal About.com awarded it with 4.5 stars out of a
possible 5, noting that the solution is “a great addition to
any company with security and compliance issues.” In a group
review of compliance products, Redmond magazine named
SecureVue its “Product Roundup Champion” with a score of 9.2
out of 10. “For anyone looking into comprehensive network
management and compliance solutions, it doesn’t get much
better than this,” wrote the reviewer. SecureVue also received
Info Security Products Guide’s 2008 Global Product Excellence
Customer Trust Award in the “Compliance” category.
“We are very pleased with this quarter’s success,” concluded
Basani. “Looking ahead, the sales pipeline is rich with new
prospects. We’re looking forward to closing out fiscal year
2008 with record growth.”
About eIQnetworks
eIQnetworks, Inc., a leader in integrated security, risk and
audit management, enables enterprise, government and MSSP
customers to effectively meet security and compliance
challenges through a unified framework. More than 2,700
organizations worldwide rely on the power of eIQ’s enterprise
security management and IT governance, risk and compliance
solutions to proactively detect security breaches, speed
incident remediation and support evolving best practices and
compliance regulations across the enterprise. For additional
information, please visit
www.eIQnetworks.com or call +1 877.564.7787.
© 2008 eIQnetworks, Inc. eIQnetworks and SecureVue are
registered trademarks of eIQnetworks, Inc. All other
trademarks, servicemarks, registered trademarks and
servicemarks are the property of their respective owners.
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