Vertical*i, a leading provider of innovation management solutions reports strong growth for the 2nd quarter of 2008.
Vertical*i is leading the field in enabling key business activities such as Open Innovation, Deal Flow Management, Partnering, and Valuation and Risk Analysis. The Vertical*i Application Suite is a comprehensive set of tools for business development, licensing and alliance management widely used by companies to scout, compare and evaluate licensing and M&A opportunities then manage the resulting alliances and relationships.
In the first half of 2008, Vertical*i has experiencing tremendous growth and is well positioned to continue this trend. This period of resounding success is illustrated by:
- A 50% growth in the customer base over the last 12 months, half of which is comprised of Global Fortune 500 organizations in consumer goods, chemical and agricultural, and pharmaceutical and medical industries.
- Sales orders for the first half of 2008 doubling over same period 2007.
- Deferred revenue for the first half of 2008 increasing by almost 350% over the deferred revenue recorded in June 2007 and doubling over the deferred revenue recorded at the end of the first quarter of 2008.
"Most organizations recognize innovation as the primary engine of sustainable growth. In a weakening economy the winners of tomorrow will be those organizations that manage to create and capture value from innovative ideas for new products and commercialize those ideas more effectively," said Hansruedi Kottmann, CEO of Vertical*i." Our strong growth is reflective of the increasing demand from companies for solutions to manage external innovations and partners and link them into their internal processes".
In addition to showing strong orders growth, the company has also formed significant partnerships in the last quarter.
- On May 19th 2008, Vertical*i announced its acquisition of Alliancesmith®, a software platform for relationship management from Vantage Partners, a leading provider of processes, tools, skill–building and solutions necessary to build world–class negotiation and relationship management capabilities.
- On April 14th 2008, Vertical*i and Thomson Scientific announced the co–development of the Vertical*i Thomson Webservice to combine the extensive drug pipeline information of Thomson Pharma® and the business process optimization capabilities of the Vertical*i Application Suite, to form an end–to–end solution for streamlining the business development operation in a pharmaceutical company.
Kottmann added, "By partnering with leaders in their respective fields, our aim is to provide end–to–end solutions and infrastructure to help our customers leverage both their internal and external innovation networks and ultimately enable sustainable growth and value creation."
About Vertical*i
Vertical*i is a provider of business support systems that help companies leverage the power of their innovation networks. The Vertical*i Application Suite is a business support system that has helped many companies to leverage their partner relationships to bring new innovations to market through licensing and other business development deals. Vertical*i is a privately funded enterprise software company headquartered in New York, NY. Vertical*i innovation management solutions can be found at www.verticali.com.
