Black Duck Software Continues to Beat Economic Trends, Posts Accelerating Growth in Q3 2010

58% climb in sales year-over-year fueled by new enterprise IT customers, strong growth in the Asia-Pacific region and expansion of reseller channel

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Black Duck Software

Oct 18, 2010, 10:13 ET

WALTHAM, Mass., Oct. 18 /PRNewswire/ -- Black Duck Software marked another quarter of exceptional growth, the company announced today, led by new client sales, rapid growth in the Asia-Pacific region and continued strength in M&A services. Third-quarter sales grew 58 percent compared to the same period in 2009. As enterprise IT developers expanded their use of open source software in multi-source development, Black Duck products and services have been critical to support the management and control of open source code at enterprise scale.

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The company added 37 new customers in the quarter, including Airbus, Infineon Technologies AG and Radisys.

The continued strength in third-quarter performance was bolstered by Black Duck's international expansion and improved presence in overseas markets. New international resellers include The Frame Group, Australia; Toshiba Information Systems Corporation and Veriserve Corporation, Japan, and Emenda Software Ltd., Germany.

Third quarter 2010 milestones included:

Black Duck acquired Ohloh.net, the largest free public directory of open source software, which hosts a vibrant web community of software developers and Free and Open Source (FOSS) users. Black Duck will use the acquisition to enhance and expand FOSS adoption by making it easier for developers to tap the huge body of high-quality code in open source projects and collaborate with their peers through the Ohloh community.

Black Duck trained 48 lawyers as part of its Legal Certification Program. The Legal Certification program, introduced in Q2 2010, introduces IP and M&A attorneys with open source experience to Black Duck code assessment services and tools. In addition to providing processes and guidelines for working with acquirer clients and target organizations, the Certification Program aids participants in understanding code assessment reports, communicating findings and providing recommendations to clients.

CEO Tim Yeaton named finalist for CEO of the Year by MassTLC. Yeaton was honored by the Mass Technology Leadership Council's (MassTLC) annual Mass Technology Leadership Awards program. Categories included CEO of the Year for both public and private companies, CIO of the Year, Emerging Executive of the Year, Company of the Year for both public and private companies and Deal of the Year.

China Open Source Software Promotion Union (COPU) named CEO Tim Yeaton Senior Advisor of COPU Think Tank. Yeaton joined more than a dozen well-known open source leaders from around the world in the advisory group, formed to promote the adoption and use of Linux and open source software in China.

Black Duck Software recognized as one of the 500 largest software companies in the world by Software Magazine again in 2010. Black Duck jumped up the list to number 379 in 2010, an advance of 72 positions. The Software 500 is a revenue-based ranking of the world's largest software and services suppliers.

"New clients and strong growth in Asia-Pacific sales, driven by expansion in our reseller program, continue to fuel our growth," said Tim Yeaton, Black Duck Software president and CEO. "Black Duck's strength in enterprise development organizations is complemented by its connections to community developers, which we will expand significantly with the acquisition of Ohloh.net. The third quarter is often challenging due to seasonality, but Black Duck's outstanding performance in Q3 is continued proof that customers increasingly understand the need to manage their use of open source software while they leverage it to fuel innovation and gain strategic and competitive advantages."

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, at enterprise scale, in a multi-source development process. Black Duck™ enables companies to shorten time-to-solution and reduce development costs while mitigating the management, security and compliance challenges associated with 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, according to Software Magazine. The company is headquartered near Boston and has offices in San Mateo, California, London, Paris, Frankfurt, Hong Kong and Tokyo. For more information, visit www.blackducksoftware.com.

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.

SOURCE Black Duck Software