Magnitude Software Announces Year End Results and Business Highlights from 2014

AUSTIN, Texas--()--Magnitude Software, a leading provider of Enterprise Information Management (EIM) software, today reported financial results and business highlights for its fiscal year end through Dec. 31, 2014.

Highlights Since New Company Formation in April 2014:

-- Secured up to $100 million in capital investment

-- Achieved over 25% EBITDA (earnings before interest, taxes, depreciation and amortization)

-- Reached 98% Support Renewal

-- Named Chris Ney Chairman and CEO

-- Formed dedicated Customer Success team

-- Delivered major product releases for both Noetix & Kalido product lines

"We’re pleased with the growth and recognition Magnitude Software has achieved since the company’s formation in April of 2014," said Nigel Turner, President of Magnitude Software. “We see a tremendous market opportunity for technology that addresses customers’ EIM needs. We will continue to invest in our core competencies and to seek complementary technologies that enable us to broaden our product footprint and strengthen our existing solutions.”

Selected Business Highlights from 2014:

Financial Progress

In late September, Magnitude Software announced it secured up to $100 million in capital investment led by Audax Group, a leading middle market private equity firm, and a significant personal investment by Chris Ney, the company’s chairman and chief executive officer. The company plans to use the investment to fuel growth through product innovation, organic growth and strategic acquisitions.

Customer Wins

2014 new customer wins comprised companies across all industries and included: Activision Blizzard, Albany Molecular Research, Inc., American Transmission Company, CooperVision, Cross Country Home Services, Fortegra Financial, Gazprom, Kroll Factual Data, Metropolitan Washington Airport Authority, Momenta Pharmaceuticals, Nabors Industries and Urban Outfitters.

Additional products and services were purchased during the year from existing customers including: American Axle, Anheuser-Busch InBev, Blue Cross Blue Shield of Massachusetts, Defense Logistics Agency, Healthways, Logitech, Starbucks, T. Rowe Price, TeleTech Holdings, Tengizchevroil LLP, TracFone Wireless, Unisource Energy and ViaSat.

Customer Success

Magnitude Software has turned customer success into more than a core philosophy by forming a dedicated team and building a formal process around customer engagement to ensure customers derive a maximum return from their investment. To kick off this effort, Magnitude Software developed a lifecycle to facilitate implementation, rollout, and long term adoption of solutions based on best practices learned from our customers. Customer Success also launched a series of customer advisory days to gather input on future product direction, and is dedicated to collecting feedback throughout the year on engineering, professional services and support.

Innovation

Magnitude Software offerings today include solutions for business intelligence, data warehousing, reporting, analytics and master data management. Among the innovations introduced in 2014 was version 9.1 SP1 of the Kalido Information Engine including significant functionality enhancements to enable customers to rapidly implement data warehouse and master data management solutions while reducing build and operating costs, and diminishing overall project risk.

Also of significance was the introduction of NoetixViews 6.4.1, a maintenance release that adds support for Oracle E-Business Suite (EBS) version 12.2 and protects reports and queries from database changes introduced in 12.2. NoetixViews Workbench 2.1.1, a maintenance release that improves the scalability and stability of Workbench, was introduced in December.

Industry Recognition

In late 2014, Magnitude Software was honored with a Gold award in the Best New Company of the Year category from the Best in Biz Awards. Database Trends and Applications magazine named Magnitude Software in the DBTA 100 list of companies that matter most in data. Noetix® Generator for QlikView® received a Bronze Stevie® Award from the prestigious American Business Awards in the category for Best New Software Product of the Year, Business Intelligence Solution. And NoetixViews® for Oracle® E-Business Suite was named a KMWorld “Trend-Setting Product” for 2014.

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About Magnitude Software

Magnitude Software is a leading provider of Enterprise Information Management software driving real business results for more than 600 active enterprise customers with over 200,000 users in 100 countries. Magnitude Software offers a family of award-winning applications, from business intelligence and data warehousing to master data management, reporting and analytics. At the core of Magnitude’s business is a passionate focus on customer success and a vision to accelerate and automate the end-to-end process of integrating, managing and analyzing information to support business decision making, while reducing operational cost and risk. For more information, please visit www.magnitudesoftware.com.

Contacts

Revolution PR
Rebecca Haas, 503-380-8292
rebecca@revolutionpr.com

Release Summary

Magnitude Software today reported financial results and business highlights for its fiscal year end through Dec. 31, 2014.

Contacts

Revolution PR
Rebecca Haas, 503-380-8292
rebecca@revolutionpr.com