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Market Research Digest - 17th September 2003
Informatica has agreed to acquire privately-held Striva Corporation, an award-winning provider of mainframe integration solutions that Informatica has OEM'd for over two years and branded as part of its PowerConnect family of products. Striva's patented technology, which includes mainframe solutions for high-speed bulk data movement and real-time change capture, will extend Informatica's leadership in comprehensive enterprise data integration and business intelligence. The cash and stock transaction is valued at approximately $62 million.
See Informatica press release.
That's a great cash out for the little company that could. Having raised $17 million, getting $62 million back is a respectable exit for Striva's founders, investors and staff, and not a bad turnout for a company whose HQ was on the founder's landing in Pinner just three or four years ago.
Revenue for the quarter ended 31 August 2003 was $77.7 million, up 13 percent (6 percent at constant currency) from $69.0 million in the third quarter of 2002. Software license revenue was $27.2 million, up 19 percent (13 percent at constant currency) from $22.8 million in the same quarter last year. Operating income increased 37 percent to $10.1 million, up from $7.3 million in the same quarter last year. Net income was $7.3 million, up 34 percent from $5.5 million in the same quarter last year.
"We are pleased to record our ninth straight quarter of year-over-year revenue growth and seventh straight quarter of net income growth. Revenue from the Sonic business increased by 64 percent to $5.8 million in the third quarter and is growing faster than any other major application integration or middleware company," said Joseph W. Alsop, co-founder and chief executive officer of PSC.
See Progress results.
Looks like Progress - and especially the Sonic Software unit - is continuing to execute well; organic growth combined with acquisitions is more than making up for the secular decline in Progress's core database business.
Sun has launched the Java Enterprise System - a bundle of enterprise server software that includes the Sun One application server plus email, portal software and web services - to be sold with a $100/year/employee pricing model. The Java Desktop System - Gnome desktop, Mozilla browser and StarOffice suite - will sell for the same price. Updates will be released quarterly; the software is available on Solaris now and on Linux soon.
See eCommerce Times.
Sun is aiming to simplify its pricing and reduce the cost of license negotiations with its customers. Will they be able to persuade customers to switch from BEA and IBM WebSphere though?
TIBCO Q3 earnings: back in the black
Total revenues for the third quarter were $66.1 million, up from $63.3 million a year earlier. License revenues for the third quarter were $34.6 million, unchanged from last year. GAAP net income was $2.7 million or $0.01 per share. That compared with a loss of $45.4 million, or 22 cents per share, a year earlier. Tibco claims to have added 59 new customers, bringing the total to 2100. The outlook for the next quarter is "between $64 million and $70 million with a profit" but CEO Vivek Ranadive noted that while U.S. sales remained healthy, a sluggish European economy could be a drag on sales.
See TIBCO results.
At the same time, TIBCO has appointed Chris Larsen - formerly President of SAP America - as EVP Global Sales. See TIBCO press release.
Total revenue for the quarter ended July 31st was $5.4 million up 22% over Q3 2002. License revenue was $1.9 million, or 35% of total revenues. Services revenue was $3.5 million. Net loss for the third quarter of 2003 was $153,000, or $0.01 per share compared to a net loss of $0.11 per share for Q3 2002.
See Versant press release.
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