Black Duck Software Maintains Exceptional Growth Pace in Q2

51% climb in bookings year-over-year reflects more rapid, widespread adoption of open source and expanding M&A activity; second-best quarter in company history

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Black Duck Software

Jul 13, 2010, 09:47 ET

WALTHAM, Mass., July 13 /PRNewswire/ -- Black Duck Software marked its second-best quarter ever, the company announced today, led by new client bookings, client renewals and growth across all business units, including services -- which saw 100 percent year-over-year growth -- and reseller partnerships. Second-quarter bookings grew 51 percent compared to the same period in 2009, reflecting increasing interest among enterprise IT managers in the management and control of open source as part of their multi-source development process. Black Duck products and services support the managed use of open source code at enterprise scale.

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Large customer renewals included Intel and Cisco. Growth in new customer licenses across the product line was complemented by a 100 percent Q2 '09 to Q2 '10 jump in Black Duck's Professional Services business, which includes IP audits for merger and acquisition engagements.

New clients include Vertex Software, ITA Software (which recently agreed to be acquired by Google) and DataCert.

The exceptionally strong second-quarter performance included new reseller partnerships with Hitachi Systems & Services, Ltd. and Fujitsu Middleware Ltd., supporting Black Duck's international expansion which is designed to improve local presence in growing overseas markets.

Second quarter 2010 milestones included:

Named a Gartner "Cool Vendor" in Application Development. Black Duck was named in the prestigious "Cool Vendors in Application Development, 2010" report by Gartner, Inc.(1) The company was recognized for its role in delivering next-generation capabilities in several key areas of the application development life cycle.

Black Duck Suite Enhancements. Black Duck announced integration with Microsoft Visual Studio 2010. Designed to make source code assets easily accessible to developers from within Visual Studio, the Code Search Plug-in simplifies and enables increased re-use of both internal code and publicly available open source software, Searches of over three billion lines of open source code are published on the Black Duck sponsored web site Koders.com. The Code Search Plug-in also searches internal code (inside the enterprise firewall) when used with Black Duck Code Sight.

Named to SD Times 100. For the third consecutive year Black Duck was recognized by the editors of SD Times as a leader, innovator and influencer in software development. Honored in the Tools and Frameworks category, Black Duck's software development tools, including the Black Duck Suite, were recognized for helping developers find, select, validate and manage open source components in a multi-source development process.

New customer growth. The company added 42 new customers in Q2, bringing customer rolls to well in excess of 700. New customers reflect strength in enterprise businesses as well as technology-centric organizations.

Partnerships. Black Duck expanded its Partner Program, adding key resellers Hitachi Systems & Services, Ltd. and Fujitsu Middleware Ltd.

"Black Duck's products are key enablers for organizations such as Intel to successfully manage and control open source in their software development processes," said Lisa Lambert, Vice-President, Intel Capital. "As an investor in Black Duck, we are encouraged by the market success shown in the current operating results and look forward to working with Black Duck as it continues its current growth trajectory."

"New clients, client renewals and expanded use of the Black Duck Suite for managing the use of open source software across the entire software development lifecycle continues to fuel our growth," said Tim Yeaton, Black Duck Software president and CEO. "Mergers and acquisitions are on the rise across all industries, increasing demand for M&A IP audits, where Black Duck's technical strength in identifying and automating the management and control of open source software in multi-source development environments is critical. This quarter is further proof that more and more companies understand how the managed use of open source software fuels innovation and helps them 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-market 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 Softwaremag.com. 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.

(1) Gartner "Cool Vendors in Application Development, 2010" by Thomas E. Murphy, Mark Driver, David Norton, 21 April 2010

SOURCE Black Duck Software