Ingres Corporation, innovators of VectorWise, a breakthrough analytic database, and provider of open source enterprise grade database, today announced that it is set to close out 2010 with substantial year on year growth, resulting in a strong balance sheet, positive cash flow and increasing profitability. This significant performance was driven by the continued new adoption of Ingres Relational Database technology by end users and independent software vendors, and by the market acknowledgement of Ingres VectorWise as a groundbreaking technology.
Highlights for 2010 include:
* The launch of Ingres VectorWise to address the growing challenges of big data by providing business analytics and interactive reporting at the “speed of thought”;
* The release of Ingres 10, which builds out our flagship product to make it even easier to migrate from proprietary platforms;
* Strengthened our management team;
* Announced significant alliances and client wins to broaden the company’s cloud computing capability with Red Hat, among others;
* Expanded our ecosystem of certified and solution partners in both the relational and BI segments with twice as many ISV’s porting to Ingres than in 2009
* Grew our worldwide footprint with significant wins at the governments of Jordan and Hungary (both choosing Ingres as their federal database of choice) and opened for business in Japan, the world’s 3rd largest economy.
2010 has seen a reinvigoration in the database segment for organisations like Ingres. Firstly, the consolidation in the market due to increased M&A activity has left many organisations and ISVs vulnerable to increased competition and predatory practices by proprietary vendors. Secondly, the inexorable rise of Cloud Computing and the integration of Social Media have created new demand for data storage and analytics. And finally, the challenge of Big Data moved to the mid-market in 2010 where there has been increasing demand for fast analytics to support their decision making capabilities as they strive for competitive advantage in a tough economy.
These factors are forcing enterprises to reassess their data management strategies and they are increasingly recognising Ingres as a very attractive viable alternative.
“Ingres is uniquely positioned to exploit these market developments, with the only independent enterprise-grade database and new, exciting technology in the growing analytical database space,” said Terry Garnett, managing director of Garnett & Helfrich Capital, Ingres’ sole investor, and Chairman of Ingres. “We are determined to take full advantage of this unique position and recognise the need for razor sharp focus on our goals and effective execution of our strategy.”
In order to fully exploit this opportunity, Terry Garnett will expand his role at Ingres as chairman of the board by assuming the CEO role from Roger Burkhardt, who is leaving the organisation.
Steve Shine, executive vice president, Worldwide Operations and Greg Wood, CFO and executive vice president, administration will continue to steer the organisation’s strategy and operations and are promoted to co-presidents.
Garnett concludes, “We start 2011 with a robust balance sheet; a strong and loyal client base and ground breaking technology that is experiencing strong early interest. By moving so far beyond the current price performance barrier in analytic database technology, we have created the potential to create a disruptive force in the under served mid market. Our challenge is to develop and execute a strategy that fulfils that potential and more, and we are excited by the opportunity and confident in our ability to do so.”