Fortify Software Highlights Growth In Business Initiatives And Financial Results For 2008

Fortify Software engaged in Software Security Assurance applications, achieved record growth in Q4 2008, finishing a strong fiscal year 2008 with the largest quarter in company history. Fortify increased its bookings in Q4 2008 80% over Q4 2007. The company's

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Fortify Software engaged in Software Security Assurance applications, achieved record growth in Q4 2008, finishing a strong fiscal year 2008 with the largest quarter in company history.

Fortify increased its bookings in Q4 2008 80% over Q4 2007. The company’s success is driven by significant new business growth in the commercial and federal markets, adding 49 new customers in Q4 alone, growing their customer roster to more than 500 commercial enterprises and government agencies.

In addition, Fortify saw the U.S. Air Force expand its purchase of Fortify tools to over $11 million, further increasing the industry’s largest investment in software security.

Among significant business initiatives is the appointment of Jim Yares as Fortify Software’s Vice President, Global Services. Lucrative customer agreements were signed with telcos, banks, insurance and pension companies, systems integrators and armed forces, including Barclays, USBank, Federal Reserve Bank of Atlanta and China Construction Bank.

Fortify’s record showing in Q4 finishes off what has been a strong 2008 overall. This year, Fortify marked the release of its cornerstone software security product, Fortify 360, as well as made key additions to both its Board of Directors and executive team.

“At a time of such economic uncertainty, when we see others in the market struggling for viability, it is especially gratifying to have a strong showing at the end of 2008,” says John Jack, president & CEO, Fortify Software.

“Despite the trying economic climate, we are seeing increased investment in software security by forward thinking companies who realize the business risk associated with insecure software continues to rise. Our customers understand that now is no time to skimp on security.”

“As a leading provider of bank-centric solutions and payment services worldwide, it is imperative that the software we offer is fundamentally secure,” says Jeff Schilling, chief technology officer, S1 Enterprise.

“Today’s compliance requirements and the increasing threats to enterprise applications demand a proactive strategy for addressing software security – Fortify’s technology and approach for implementing software security assurance aligns well with our global security vision.”

L.D.

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