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DeviceLock Grows Revenue, Continues Global Expansion In 2008

February 11, 2009 – DeviceLock, Inc., a worldwide leader in endpoint device control and context-aware data leak prevention software solutions, today announced sales revenue growth of 26% for 2008. Despite the global slowdown in IT spending, the company has met its sales targets and posted steady revenue growth for the first and second half of 2008 over the same periods of 2007. Its consistent growth trajectory can be measured at a Compound Annual Growth Rate (CAGR) of more than 70% over the last seven years. DeviceLock’s success at this moment when other software companies are experiencing stalled growth and revenue declines is the result of its participation in a business-vital software category, its focus on being the best quality and price/performance solution in its class, and its worldwide sales channel that is strong in both developing and well-established regional markets for IT security software.

In the U.S., DeviceLock revenue grew by 53% in 2008 over 2007. As a result, the U.S. remains the largest market for DeviceLock in terms of the number of licenses sold annually followed by the Russian and European markets. In the Middle East and Asia Pacific, the company’s annual sales increased by 52% and 40% respectively. Channel partners in Japan delivered 70% product sales growth, a significant achievement in a market where DeviceLock’s presence has been well-established for a number of years. The company’s dedication to developing its channels in APAC and MEA regions has yielded outstanding results in China, Taiwan, the United Arab Emirates and Israel where partners all recorded product sales growth of 100% or more. The total number of new enterprise customers added worldwide in 2008 exceeded more than 3000.

DeviceLock is positioned for sustained growth by the following strategic accomplishments in 2008:

  • The restructuring of worldwide operations to better support DeviceLock’s growing enterprise customer base;
  • Company name change to DeviceLock, Inc. to promote clearer branding;
  • Opening of corporate offices in the U.S. and Germany and an on-site training center for European channel partners;
  • Signing of new first-tier channel partners in key regional markets including France, Benelux, China and South Korea;
  • Introduction of two major product releases – DeviceLock 6.2.1 and 6.3 – with significantly enhanced functionality that positions DeviceLock as a comprehensive context-aware Endpoint Data Leak Prevention (DLP) solution.

DeviceLock’s revenue growth over the last year is particularly remarkable, given the financial industry meltdown and related economic crises hitting IT markets around the globe,” said Ashot Oganesyan, DeviceLock CTO and Founder. “Our positive 2008 results serve as tangible proof that our management team is performing and that our business development strategy is effective. Also our customers are confirming their trust in DeviceLock product quality by upgrading and extending their licenses. In 2008, the size of DeviceLock’s installed base has increased by 25%.

DeviceLock-based software solutions proactively protect organizations of any industry and size against data leakage and corporate network infiltration by malware via the local ports of employees’ computers, thereby significantly reducing business risks resulting from insider negligence, errors or malicious actions. Designed for Microsoft Windows operating systems and featuring comprehensive centralized management natively integrated with Microsoft Active Directory®, DeviceLock software enables you to precisely control, log, shadow-copy, and audit end-user access to any type of computer ports or peripheral devices including local, network and virtual printers, as well as Windows Mobile® and Palm® OS based personal mobile devices. DeviceLock also integrates with leading encryption products from PGP, Lexar, and TrueCrypt, in order to protect data on removable storage devices. In addition, DeviceLock blocks operations of USB and PS/2 hardware keyloggers.

About DeviceLock, Inc.

Since its inception in 1996 as SmartLine Inc, DeviceLock, Inc. has been providing well-integrated and cost-effective endpoint security solutions. With more than three million computers installed in over 55,000 organizations worldwide, DeviceLock has a vast range of enterprise customers that include financial institutions, state and federal government agencies, classified military networks, telecommunications companies, and educational institutions. DeviceLock has international offices in California (U.S.), London (U.K.), Ratingen (Germany), Moscow (Russia) and Milan (Italy).