Axeda Named One of Massachusetts' Fastest-Growing Companies

FOXBORO, Mass., April 29 /PRNewswire/ -- Axeda Corporation announced today that it was named as a 2010 Boston Business Journal Pacesetter. This annual list recognizes the 50 fastest-growing private companies in Massachusetts.  Axeda was given this prestigious distinction for posting 3-year revenue growth of 100% from 2006-2009.

"Significant growth in this business environment is remarkable," said George Donnelly, editor of the Boston Business Journal. "The 2010 honorees are an impressive list of growing companies."

Founded in 2000, Axeda is the leading Platform-as-a-Service (PaaS) company for connected products. Nearly 150 major organizations, including Abbott, EMC, Diebold, and NetApp rely on the Axeda® Platform today manage, service, and interact with mission-critical assets worldwide.  

Axeda's success through the economic downturn was fueled by innovation and the bottom line results the technology drives for its customers. Results such as:

• 70% reduction in issue resolution time
• 20% increase in product availability
• 20% reduction in total service costs
• 15% increase in contract renewal rates

"Over the last decade we built a powerful solution that enables our customers to create connected products. Through this connection, companies are transforming their businesses by providing on-line delivery of new services," said Dale Calder, president and CEO, Axeda.  "The pace of our growth is driven by the success of our customers in rapidly deploying connected products and reaping the benefits."

About Axeda

Axeda Corporation is the leading Platform-as-a-Service (PaaS) company for connected products. The company's VeriSign® Security certified platform and applications allow companies to connect, manage, service, and interact with assets anywhere – it serves over 100 of the world's leading enterprises including Agilent, Diebold, and EMC. Axeda Corporation is a privately held company headquartered in Foxboro, Mass. and can be reached at www.axeda.com.      

SOURCE Axeda Corporation

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