Software IP Assessments Signal Return of Merger & Acquisition Market, Drive Q3 Results
Quarterly Surge of 53 Percent in Services Positions Black Duck for Strong Overall Growth in ‘09
WALTHAM, Mass., October 14, 2009 - A 53 percent third-quarter rise in Services, including Software Intellectual Property (IP) Assessments, contributed to continued top-line bookings growth in the third quarter of 2009 for Black Duck Software, the company said today. Buoyed by new customer wins and new subscriptions for the Black Duck® Suite the company remains on-track for strong annual growth, continuing its trend of sequential-quarter growth. Black Duck Software is the leading global provider of products and services for accelerating software development through the managed use of open source software.
The growth in services and IP code assessments - in which Black Duck scans software code bases to identify the presence of open source and third party code and related software licensing obligations - reflects the resurgence of capital markets and increased M&A activity. The company also added new enterprise accounts including AOL, Aspen Technologies, Administaff, Evident Software and MFormation.
Rising adoption of open source software in enterprises that rely on multi-source development, in which software developers combine open source code with in-house developed code, supports Black Duck’s growth. The company’s products and services help companies manage the use of open source code at enterprise scale.
Accomplishments for the third quarter of 2009:
- Named to Software Magazine Software 500 ranking of the world’s largest software and service providers for the second year in a row. The company moved up 26 places in the rankings. The Software 500 is a revenue-based ranking of the world’s largest software and services suppliers.
- Expanded free OSS code search engine Koders.com to 2.4 billion lines of code. Koders.com provides software developers with access to over 2.4 billion lines of code, written in 33 languages. The milestone represents a 210 percent increase in code since Black Duck acquired the assets of Koders.com in April 2008. The company adds an average of 100 million lines of code to the site each month.
- Became a Founding Member of Open Source for America. The coalition of more than 50 companies, academic institutions, communities, related groups and individuals was created to serve as a unified voice for the promotion of open source in the U.S. Federal government sector.
- New customer growth. The company added 26 new customers in Q3 to end the quarter with 688 customers. New customers reflect particular strength in the software, mobile and IT performance management sectors.
“Black Duck’s Software IP Assessment services business is a leading indicator of an improving tech sector economy,” said Tim Yeaton, Black Duck Software president and CEO. “As M&A activity resumes and capital markets come back we expect to see continued growth, driven by demand for services and new licenses for the Black Duck Suite of products. One of the features of this recovery is a new pragmatism on the part of development organizations – a singular focus on maximizing value while reducing development costs. Open source is a path to value, and our customers understand the need to manage open source components in development projects to reduce risk, control costs and accelerate innovation.”
About Black Duck Software
Black Duck Software is the leading provider of products and services for automating the management, governance and secure use of open source software in multi-source development at enterprise scale. Black Duck™ enables companies to shorten time-to-solution and reduce development costs while mitigating the management, security and compliance challenges associated with using open source software. Black Duck Software powers Koders.com, the industry’s leading code search engine for open source, and is among the 500 largest software companies in the world. The company is headquartered near Boston and has offices across the U.S., Europe and Asia, and has distribution partners throughout the world.
Black Duck, Know Your Code and the Black Duck logo are registered trademarks of Black Duck Software, Inc. in the United States and other jurisdictions. Koders is a trademark of Black Duck Software, Inc. All other trademarks are the property of their respective holders.
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