SOA Vendor iTKO Reports 'Record Year' in Growth
iTKO, a provider of testing, validation and virtualization solutions for distributed enterprise applications that leverage SOA, BPM, integration suites and ESBs, said a combination of new technology development, customer growth, and global sales have "set the stage for rapid growth in 2009." iTKO is a privately held company and does not release actual revenue numbers.
NOTE: ebizQ does not typically cover investor-relations or year-end announcements, but we will publish the annual results or announcements of SOA vendors as they are released during the first quarter of 2009. We are publishing this material not to cover investment issues, but to review the health of the SOA market in 2009 both in and of itself and in context with the overall economic downturn.
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iTKO announced "a record year of growth and expansion in 2008." iTKO's LISA product suite has addressed the need in the market for automating unit, functional, regression, load and performance testing in an environment of constant change and complexity.
iTKO highlights from 2008 include the release of LISA Virtualize for performance environments, LISA Eclipse Edition 4.5, and the addition of more than 30 Global 2000 enterprise customers.
"While overall IT spending is tightly controlled during tough economic times, in our research we have identified certain technology investments that a business cannot afford to pass up if they are to remain competitive, and principal among these is virtualization," said Theresa Lanowitz, senior analyst with voke. "With its new service virtualization capability, iTKO is uniquely positioned to complete the value proposition customers started realizing with server and test lab virtualization tools. LISA Virtualize has put iTKO in the critical path of cost containment and increased software agility for customers."
iTKO reports seeing a "significant increase" in sales in 2008, with a "dramatic increase" in its global user base due both to new customers and larger adoption within existing customers. The company added customers across all major industries, as large and mid-size enterprises sought a product that could embed complete, collaborative and continuous quality across the software development and testing lifecycle.
New customers in 2008 included Allstate, Bank of America, Intel and eBay. iTKO also saw a number of repeat customers who continued to purchase additional products such as DISA (US Department of Defense), American Airlines and Level3.