Sopheon Named to Software Magazine’s Software 500
Revenue Growth of 36% Helps Propel Company to 366th Place in First-Ever Appearance on Annual List of World’s Largest Software and Service Providers
Sopheon, the international provider of software and services for product lifecycle management, today announced its inclusion on Software Magazine’s Software 500 listing of the world’s largest software and service providers. Sopheon ranked 366th. This is the company’s first year on the list.
The Software 500 is comprised of suppliers targeting medium to large enterprises and their IT professionals, software developers and business managers involved in software and services purchasing. Rankings are based on total worldwide software and services revenue for 2008. This includes revenue from software licenses, maintenance and support, training and software-related services and consulting.
Sopheon’s appearance on Software Magazine’s list reflects a historical pattern of growth. Since the launch of its flagship offering into the product lifecycle market in 2001, the company has increased its revenues at an annualized average of 36% per year. In 2008, when the market for product lifecycle management solutions declined by an estimated 2%*, Sopheon’s revenues in U.S. dollars grew by 36%. That amounts to 47% in the company’s reporting currency of U.K. pounds.
“The 2009 Software 500 results show that revenue growth in the software and services industry is healthy, with total Software 500 revenue of $491.3 billion worldwide for 2008 representing 8.8% growth from the previous year,” said John P. Desmond, editor of Software Magazine and Softwaremag.com. “Sopheon exemplifies the best of what the Software 500 stands for. Its focus on helping companies conceive, develop and successfully manage new products illustrates the high value software can bring to an enterprise’s most critical business processes. Sopheon’s exceptional record of growth bears testimony that its solutions are filling an important need in the marketplace and delivering substantial benefit to the many top manufacturers that have adopted them.”
The Software 500 is now in its 27th year. “The ranking helps CIOs, senior IT managers and IT staff research and create short lists of prospective business partners,” Desmond continued. “It is a quick reference of vendor viability. The online version is available at www.Softwaremag.com and is searchable by category, making it what we call the online catalog to enterprise software.” Financial information underpinning the list was gathered through a survey prepared by King Content Co. and from public documents.
“Sopheon’s reputation is that we continue to grow at a faster rate than our competitors because our software is functionally deeper, quicker to deploy, easier to use, and costs less to own,” said Andy Michuda, chief executive officer of Sopheon. “While these things are true, the principal reason for the widespread adoption of our Accolade® line of solutions is that they enable users to capitalize on the new product opportunities that will give them the highest return on investment. In other words, Sopheon’s software helps turn product innovation into real business. We appreciate Software Magazine’s recognition of our success.”
*AMR Research, The Global Enterprise Application Market Sizing Report, 2008-2013, July 2009