Invention Machine Corporation, the leading provider of software
that accelerates product innovation, today announced record growth in
2006 marked by substantial year-end revenues, strong new customer
acquisitions and existing customer expansions, and significant new and
localized product introductions. Record revenues in the fourth quarter
capped another year of strong, profitable, double-digit growth, far
exceeding the overall industry averages and demonstrating increasing
demand for Invention Machine's Goldfire Innovator.
"We are proud of our success in 2006 and the momentum and market
traction we have achieved," said Mark E. Atkins, Chairman, President
and CEO of Invention Machine. "Invention Machine's strategy has been
to listen to our customers, fund R&D investments, and continue to
deliver world-class solutions that uniquely address manufacturer's
most pressing innovation challenges. We look forward to building on
this foundation and accelerating our growth in 2007."
Customer Momentum Driven by Continued Adoption across Verticals
and Geographies
Invention Machine experienced substantial customer growth in more
than 15 countries across key manufacturing industries, including
automotive, aerospace and defense, chemicals, consumer packaged goods,
electronics, energy, life sciences and pharmaceuticals. 2006 customer
wins include: Hyundai Heavy Industries, Thales, PepsiCo Inc., Dassault
Aviation, Arcelik AS, Gaz de France, Leggett & Platt, Alcan, Samsung
Electronics Co. Ltd., Mitsubishi Chemical Corporation, Siemens, LG
Micron, Airbus, Solutia Inc., Sun Chemical, and Cardinal Health.
Global Expansion
In order to meet increased global demand for its Goldfire(TM)
solutions, 2006 marked an important year in corporate expansion:
-- Opening new offices in Frankfurt, Germany
-- Doubling the size of its global direct sales, marketing and
services organizations
-- Expanding the management team with the addition of Jeff Boehm,
Vice President of Marketing and Strategy, Barry Daitch, Vice
President of Services, and Jeff Jarvis, Vice President of
North American Sales
-- Appointing former Ascential Software Chairman and CEO, Peter
Gyenes, to Invention Machine's Board of Directors; and
-- Expanding the company's presence in Asia Pacific and Europe
with the addition of new resellers in Taiwan, India, Malaysia,
Italy, Portugal and Sweden.
Product and Services Leadership
2006 was a banner year for Invention Machine's product portfolio
with two major releases of its flagship product, Goldfire
Innovator(TM) and a series of local language versions of the software.
Notable releases include:
-- Goldfire Innovator(TM) 3.0, which ushered in a new class of
knowledge-enabled innovation capabilities based around
breakthrough semantic analysis functionality, enabling users
to more easily leverage existing information sources to solve
complex manufacturing challenges. Goldfire Innovator's Root
Cause Analysis (RCA) and newly introduced Failure Mode Effects
Analysis (FMEA) modules, which facilitate more rapid and
comprehensive failure diagnosis and improve design
reliability, are built upon a powerful new semantic structure
- the Cause-Effect relationship - providing users the ability
to automatically identify and retrieve 'causes' and 'effects'
of events across internal and external data sources.
-- The release of Goldfire Innovator with a French semantic
engine including a unique, patent-pending cross-language
search capability, which allows users to access and leverage
concepts across both French and English documents.
-- Goldfire Innovator(TM) 3.5, which includes a new German
semantic engine along with numerous feature enhancements.
-- The release of a fully localized Japanese version of Goldfire
Innovator including a Japanese semantic engine.
2006 was also a strong year for the Invention Machine Services
Group with the re-engineering and growth of the services team, the
roll-out of several new and robust service offerings, and the
successful completion of a record number of customer engagements.
About Invention Machine
Invention Machine Corporation is the leading provider of solutions
that enable global 2000 manufacturers to accelerate and expand idea
generation, increasing innovation and accelerating time to market of
higher quality products. More than 1200 leading manufacturers use
Invention Machine's solutions to raise returns on their R&D
investments, improve design and production processes across the
product lifecycle, and continually fuel product pipelines with
innovative products. Headquartered in Boston, Massachusetts, Invention
Machine has offices in the UK, France and Germany and distribution
partners throughout Europe and Asia-Pacific. Invention Machine
supports Global 2000 customers worldwide including Delphi, HP, NEC,
Northrop Grumman, Renault, Samsung, Saipem, Shell, ST
Microelectronics, and Whirlpool. For additional information, please
visit www.invention-machine.com.
