Tideway Recognized as a Market Leader in the Configuration Management Database Space by Global Independent Research Firm

LONDON--()--Feb. 28, 2006--

  Tideway also Announces Over 500% Growth and Key Appointments  



Tideway Systems(TM) announced today it has been named a configuration management leader with top scores in scalability, information reconciliation and virtual environment discovery in Forrester's Wave Report Configuration Management Database, Q1 2006 first published February 27th, 2006.

The report calls attention to Tideway Foundation's strong configuration management database (CMDB) product and a good application dependency mapping technology. Tideway Foundation is seen as an especially good fit for buyers whose data center optimization objectives require automated reconciliation of configuration information.

Commenting on the strong scalability of Tideway's offering, Stephen Ashton, Global Head of IT Business Management for investment bank, Dresdner Kleinwort Wasserstein (DrKW), said "About a year ago our visibility into the IT infrastructure was fragmented across a series of IT functions. In order to get a holistic view of the IT environment, we required a solution that would not only allow us to map the entire application infrastructure automatically but also cope with the scale and complexity of our environment which encompasses thousands of servers and high volume of changes per annum. Tideway Foundation was implemented across all our key locations with immediate value gained from the initial discovery."

Forrester evaluated the strengths and weaknesses of eight vendors that have brought an original technology for automated application to infrastructure dependency mapping to market across 63 criteria. Forrester chose vendors based on: 1) product fit; 2) customer success; and, 3) Forrester client demand. Forrester eliminates vendors that have limited customer references and products that do not fit the scope of their evaluation.

"Forrester's recognition of Tideway as a market leader with strong technology is reflected in the feedback we get from our customers. We had an outstanding 2005 with over $12 million in bookings. We experienced exceptional growth in 2006 thanks to our ability to manage large scale deployments with flexible reporting," said Richard Muirhead, CEO of Tideway Systems.

In addition to Tideway's impressive financial results in 2005, the company made several key appointments as the company continues to grow:

-- Stephane Kurgan joined Tideway's executive team as Chief Financial Officer from his post as President of enba plc. Prior to enba plc, Stephane was a consultant with McKinsey.

-- Colin Rowland joined the team as Vice President of Sales, joining from Mercury, where he ran the Application Management and IT Governance business units in EMEA.

-- Annette Terry joined Tideway as Director of HR from her EMEA recruitment management role at TIBCO Software, having previously been an HR Partner at IBM.

-- Yari Gal joined as Tideway's Director of support from his role as European senior support manager at Mercury.

-- Kimberly King joined as Tideway's Vice President of Channels and Alliances in the US from Softek where she held the same role. Prior to Softeck, Kimberly was also Vice President of Channels and Alliances at SMARTS (recently acquired by EMC).

Tideway's products provide organizations with complete transparency of their complex IT environments. They enable organizations to model distributed business applications and link them to their supporting infrastructure, serving as a cornerstone of integrated enterprise systems management solutions and for implementing IT best practices. Configuration management databases can be implemented with ease, automating and centralizing the resource-intensive tasks of discovering and understanding application infrastructure. Sophisticated browser-based reporting, visualization and integration capabilities make this IT intelligence available in an actionable form right at the point of decision or analysis.

About Tideway Systems

Tideway Systems is a privately held company headquartered in London, UK, whose software solutions provide business service configuration management to some of the world's largest enterprises. Richard Muirhead founded the company in 2002 with the support of Accel Partners. Apax Partners led the series A round of investment.

Tideway's IT service configuration management products provide IT operations with complete transparency of their run-time environment. Through modeling of bespoke applications and automated infrastructure discovery, Tideway's solutions serve as a cornerstone to enhance IT department responsiveness, and reduce application downtime. Tideway delivers value to a number of critical projects including: Business service management, consolidation projects, meeting IT compliance, achieving cost transparency and implementation of IT best practice such as ITIL. See http://www.tideway.com for further information.

2006 Tideway Systems all rights reserved. Tideway is a registered trademark of Tideway Systems Limited. All other logos, brand names and product names are trademarks of their respective companies

ITIL(R) is a Registered Trade Mark and a Community Trade Mark of the Office of Government Commerce and is registered in the U.S. Patent and Trademark Office

Contacts

Tideway Systems
Henriette Lockwood, +44 207 368 7333
h.lockwood@tideway.com

Contacts

Tideway Systems
Henriette Lockwood, +44 207 368 7333
h.lockwood@tideway.com