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Global Customer Adoption, Product Innovation, and Industry Recognition Drive Continued Success
Somerset, NJ- March 6, 2006 - Lumeta, the leading provider of network intelligence solutions for enterprises and government agencies, today announced the expansion of its executive management team. Software veteran David Hickey has been appointed president & chief executive officer. Tom Dent will move from the role of CEO and assume the position of chairman of the board, effective immediately. These changes come at a time when the company is experiencing record growth and profitability, driven by widespread customer adoption and technology innovation. The executive leadership team expansion firmly positions Lumeta to deliver on its strategy for continued significant growth on pace with the security industry’s unprecedented momentum.
David Hickey brings to Lumeta more than 20 years of technology industry experience and proven ability to maximize results, especially through periods of high growth and market transition. The executive leadership that he developed as CEO of Incurrent Solutions, Inc. and as COO at Quality Systems & Software (QSS), Inc. helped to cultivate his strong ability to lead product development based on customer feedback and market needs. As President of QSS North American Operations, Hickey learned to bring operational discipline in an organization while aggressively managing top line growth. As a result he helped grow the business from $0 to approximately $30 million. The executive team expansion comes on the heels of Lumeta’s most successful year to date. The company experienced record momentum in 2005, with an 81% revenue increase from YE2004 and 113% in growth in Q405 over the previous year. During 2005 Lumeta upgraded and released new versions of its IPsonar® network intelligence software and grew its customer base in key vertical markets – including energy services, pharmaceuticals, financial services and insurance, technology and manufacturing. In addition, the company expanded its global sales presence into Europe by opening new offices in the United Kingdom and Germany.
Additional highlights of 2005 included:
- Lumeta signed 23 new customers.
- Significant number of new customer wins came out of the federal sector and the EMEA region, garnering growth of 178% and 79%, respectively.
- Extensive innovations to the company’s suite of products including features such as:
- Automated Self-Tuning of Discovery Parameters
- Public Key Infrastructure Support for Distributed IPsonar Components
- Security Auditing
- Lumeta’s Professional Services team saw 200% growth in annual services revenue and delivered 35 solution packages in 2005 including new solution packages for Network Risk Assessment, Asset Verification, Application Visibility, Network Connectivity and Policy Compliance.
- Numerous industry awards and accolades including Red Herring Top 100 Innovators and selection as one of NJBIZ’s New Jersey’s Finest 50 Fastest Growing Companies.
“Lumeta has reached an important stage as a growing company with a global customer base,” said Lumeta chairman, Tom Dent.“This leadership expansion is a natural and logical progression in the company’s growth as we keep pace with heightened market demand and remain focused on meeting our aggressive business goals. Dave has the right mix of leadership skills, enthusiasm, and business acumen to guide Lumeta’s strategic direction and drive our next phase of growth.” A recent Gartner report1 asserts that security software budget growth is higher than any other software category. Lumeta intends to capitalize on this unprecedented market opportunity and continue its momentous growth pace by helping to drive security and vulnerability management. Despite millions of existing investments in security and management products, large enterprises still struggle to protect and manage IT based solely on assumptions of where their networks end and what’s running on them. Lumeta’s IPsonar completes the picture of a global IT network so companies can accurately and cost effectively prioritize security and operations management on the most critical IT assets.
“Lumeta is poised to take off in 2006,” said Lumeta’s new President & CEO, David Hickey. “With regulatory compliance and IT operations cost pressures putting IT under the microscope, more and more organizations see IPsonar’s accurate, comprehensive picture of their entire network as a must-have. I am thrilled to be on board to help realize the company’s full potential.”
About Lumeta Corporation
Lumeta provides large enterprises and government agencies with the global visibility needed to quantify network risk and measure the impact of network change. Our network assurance solutions enable IT organizations to deploy new business services, maintain existing service levels and minimize network security risk to ensure compliant operations.
Lumeta's flagship product, IPsonar, is the industry's only solution that allows organizations to measure risk from a global network perspective. IPsonar maps every asset on a network--including assets not currently under management--visualizes the connectivity between assets and networks to uncover risk patterns and policy weaknesses, and enables network and security teams to bring unknown assets under management while deploying security technology more effectively to mitigate risk.
Note: Lumeta, the Lumeta logo, IPsonar and the IPsonar logo are trademarks and service marks of the Lumeta Corporation. Other product and company names appearing in this document may be trademarks of their respective owners.
Gartner, March 9, 2005, “What Your Organization Should Be Spending for Information Security”, Vic Wheatman, Brian Smith, Norma Schroder, John Pescatore, Mark Nicollett, Ant Allan and Rich Mogull
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Jim McManus
Davies Murphy Group
781-418-2402
lumeta@daviesmurphy.com |
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