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TIBCO Software Reports Fourth Quarter and Fiscal Year 2012 Financial Results

Full Year Revenue Exceeds $1 Billion for the First Time; Non-GAAP EPS of $1.15

PALO ALTO, CA -- (Marketwire) -- 12/20/12 -- TIBCO Software Inc. (NASDAQ: TIBX) today announced results for its fourth quarter and fiscal year, which ended on November 30, 2012.

Total revenue for the fourth quarter of fiscal 2012 was $296.5 million and net income was $48.8 million, or $0.29 per diluted share. This compares to total revenue of $289.5 million and net income of $51.9 million, or $0.30 per diluted share, as reported for the fourth quarter of fiscal 2011.

On a non-GAAP basis, net income for the fourth quarter of fiscal 2012 was $70.7 million or $0.42 per diluted share, compared with $72.2 million or $0.42 per diluted share for the fourth quarter of fiscal 2011. Non-GAAP operating income for the fourth quarter of fiscal 2012 was $98.2 million, resulting in a non-GAAP operating margin of 33%. This compares to non-GAAP operating income of $99.8 million, or a 34% non-GAAP operating margin in the fourth quarter of fiscal 2011. Non-GAAP results exclude amortization of acquired intangible assets, stock-based compensation expense, acquisition related and other expenses and restructuring activities and assumes a non-GAAP effective tax rate of 26% for fiscal 2012 and 28% for fiscal 2011.

"Despite weakness in our Americas infrastructure business in Q4, TIBCO delivered another record year of revenue and profitability in 2012," said Vivek Ranadivé, TIBCO's chairman and chief executive officer. "As we enter 2013, we are confident about our market position and see many avenues of growth for our business. The world continues to accelerate its shift towards operating in real-time, requiring companies to find more and better ways to integrate their businesses and understand the information and events that drive performance. This trend continues to create demand for our event-driven platform. Our focus in the new year is on investing for innovation and growth, delivering extreme value to our customers, and executing with consistency."

Fourth Quarter Fiscal 2012 Highlights

  • Total revenue of $296.5 million;
  • License revenue of $136.3 million;
  • Non-GAAP operating margin of 33%;
  • Non-GAAP EPS of $0.42;
  • Cash flow from operations of $72.0 million;
  • Strong mix of business across major industries including Financial Services, Energy, Telecommunications, Life Sciences, Manufacturing, and Retail; and
  • TIBCO closed 195 deals over $100k and had 25 deals over $1 million.

Full Year Fiscal 2012 Highlights

  • Record total revenue of $1,024.6 million;
  • License revenue of $410.3 million;
  • Non-GAAP operating margin of 27%;
  • Record non-GAAP EPS of $1.15, vs. $1.01 for fiscal 2011;
  • Cash flow from operations of $237.4 million; and
  • Repurchased 7.6 million shares.

Conference Call Details

TIBCO has scheduled a conference call for 4:30 pm ET / 1:30 pm PT today to discuss its fourth quarter results. The conference call will be hosted by InterCall and may be accessed over the internet at www.tibco.com or via dial-in at 877-293-9114 or 706-758-2055. Please join the conference call at least 10 minutes early to register. A replay of the conference call will be available until midnight PT on January 20, 2013 at www.tibco.com or via dial-in at 800-585-8367 or 404-537-3406. The pass code for both the call and the replay is 77950749.

About TIBCO
TIBCO Software Inc. (NASDAQ: TIBX) is a provider of infrastructure software for companies to use on-premise or as part of cloud computing environments. Whether it's optimizing claims, processing trades, cross-selling products based on real-time customer behavior, or averting a crisis before it happens, TIBCO provides companies the two-second advantage® -- the ability to capture the right information at the right time and act on it preemptively for a competitive advantage. More than 4,000 customers worldwide rely on TIBCO to manage information, decisions, processes and applications in real time. Learn more at www.tibco.com.

TIBCO, two-second advantage, and TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.

About Non-GAAP Financial Information

This press release includes non-GAAP financial measures. For a description of these non-GAAP financial measures, including the reasons management uses each measure, and reconciliations of these non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with Generally Accepted Accounting Principles (GAAP), please see the section entitled "About Non-GAAP Financial Measures" and the accompanying table entitled "Reconciliation of GAAP to Non-GAAP Measures."

Legal Notice Regarding Forward-Looking Statements

This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the federal securities laws. The final financial results for fourth quarter of fiscal year 2012 may differ materially from the preliminary results presented in this release due to factors that include, but are not limited to, risks associated with the final review of the results and preparation of financial statements. In addition, forward-looking statements such as statements regarding future avenues of growth for TIBCO's business, growing demand for TIBCO's event-driven platform, TIBCO's ability to invest in innovation and growth, TIBCO's ability to deliver extreme value to customers, and TIBCO's ability to execute with consistency, are subject to risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. These risks include but are not limited to: risks arising from adverse changes and uncertainty in domestic and global economies, TIBCO's ability to develop products that address changing market demands, the impact of competition from alternative business models and new product introductions, TIBCO's ability to offer differentiated products that capitalize on current technology trends, the impact of competition from companies that are larger or have greater resources than TIBCO, and TIBCO's ability to execute on its strategy. Additional information regarding potential risks is provided in TIBCO's filings with the SEC, including its most recent Annual Report on Form 10-K for the year ended November 30, 2011 and Quarterly Report on Form 10-Q for the quarter ended September 2, 2012. TIBCO assumes no obligation to update the forward-looking statements included in this release.


                             TIBCO Software Inc.
                    Condensed Consolidated Balance Sheets
                                 (unaudited)
                               (in thousands)


                                                          November 30,
                                                    ------------------------
                                                        2012         2011
                                                    -----------  -----------

                       ASSETS

Current assets:
  Cash and cash equivalents                         $   727,309  $   308,148
  Short-term investments                                 34,411          225
  Accounts receivable, net                              234,100      196,419
  Prepaid expenses and other current assets              61,174       61,864
                                                    -----------  -----------
    Total current assets                              1,056,994      566,656

Property and equipment, net                              98,474       89,871
Goodwill                                                532,290      451,821
Acquired intangible assets, net                         123,261       97,258
Long-term deferred income tax assets                     64,549       78,656
Other assets                                             71,340       48,676
                                                    -----------  -----------
    Total assets                                    $ 1,946,908  $ 1,332,938
                                                    ===========  ===========

               LIABILITIES AND EQUITY

Current liabilities:
  Accounts payable                                  $    22,809  $    25,802
  Accrued liabilities                                   133,596      129,168
  Accrued restructuring costs                               893        6,792
  Deferred revenue                                      263,476      210,234
  Current portion of long-term debt                      35,711        2,397
                                                    -----------  -----------
    Total current liabilities                           456,485      374,393

Accrued restructuring costs, less current portion           643        1,050
Long-term deferred revenue                               25,543       14,876
Long-term deferred income tax liabilities                 3,208        4,540
Long-term income tax liabilities                         26,263       20,772
Other long-term liabilities                               4,015        2,445
Long-term debt, less current portion                          -       65,711
Convertible debt                                        524,466            -
                                                    -----------  -----------
    Total long-term liabilities                         584,138      109,394
                                                    -----------  -----------
    Total liabilities                                 1,040,623      483,787
                                                    -----------  -----------

Total equity                                            906,285      849,151
                                                    -----------  -----------
    Total liabilities and equity                    $ 1,946,908  $ 1,332,938
                                                    ===========  ===========



                            TIBCO Software Inc.
              Condensed Consolidated Statements of Operations
                                (unaudited)
                (in thousands, except net income per share)


                               Three Months Ended          Year Ended
                                  November 30,            November 30,
                             ----------------------  ----------------------
                                2012        2011        2012        2011
                             ----------  ----------  ----------  ----------
Revenue:
  License                    $  136,307  $  134,706  $  410,306  $  377,618
  Service and maintenance       160,220     154,805     614,307     542,628
                             ----------  ----------  ----------  ----------
    Total revenue               296,527     289,511   1,024,613     920,246
                             ----------  ----------  ----------  ----------

Cost of revenue:
  License                        11,554       9,743      41,363      35,309
  Service and maintenance        64,035      59,604     241,452     212,066
                             ----------  ----------  ----------  ----------
    Total cost of revenue        75,589      69,347     282,815     247,375
                             ----------  ----------  ----------  ----------
Gross profit                    220,938     220,164     741,798     672,871
                             ----------  ----------  ----------  ----------

Operating expenses:
  Research and development       39,255      38,271     154,535     143,173
  Sales and marketing            85,557      81,752     317,001     285,366
  General and administrative     17,960      16,330      70,868      59,990
  Amortization of acquired
   intangible assets              4,813       4,596      19,654      19,149
  Acquisition related and
   other                            502         154       2,672       1,840
  Restructuring adjustment         (201)      8,816        (648)      8,926
                             ----------  ----------  ----------  ----------
    Total operating expenses    147,886     149,919     564,082     518,444
                             ----------  ----------  ----------  ----------

Income from operations           73,052      70,245     177,716     154,427

  Interest income                   267         198       1,109       1,374
  Interest expense               (8,823)     (1,083)    (23,396)     (4,020)
  Other income (expense), net      (357)         83        (115)     (1,846)
                             ----------  ----------  ----------  ----------

Income before provision for
 income taxes and
 noncontrolling interest         64,139      69,443     155,314     149,935

Provision for income taxes       15,300      17,504      33,200      37,300

                             ----------  ----------  ----------  ----------
Net income                       48,839      51,939     122,114     112,635

Less: Net income attributable
 to noncontrolling interest          51          61         107         229

                             ----------  ----------  ----------  ----------
Net income attributable to
 TIBCO Software Inc.         $   48,788  $   51,878  $  122,007  $  112,406
                             ==========  ==========  ==========  ==========

Net income per share
 attributable to TIBCO
 Software Inc.:
  Basic                      $     0.30  $     0.32  $     0.76  $     0.70
                             ==========  ==========  ==========  ==========
  Diluted                    $     0.29  $     0.30  $     0.72  $     0.65
                             ==========  ==========  ==========  ==========

Shares used to compute net
 income per share
 attributable to TIBCO
 Software Inc.:
  Basic                         160,115     161,586     160,330     161,469
                             ==========  ==========  ==========  ==========
  Diluted                       169,284     171,978     169,698     173,272
                             ==========  ==========  ==========  ==========



                            TIBCO Software Inc.
              Condensed Consolidated Statements of Cash Flows
                                (unaudited)
                               (in thousands)

                                                          Year Ended
                                                         November 30,
                                                   ------------------------
                                                       2012         2011
                                                   -----------  -----------

Cash flows from operating activities:
  Net income                                       $   122,114  $   112,635
  Adjustments to reconcile net income to net cash
   provided by operating activities:
    Depreciation of property and equipment              14,931       13,145
    Amortization of acquired intangible assets          35,553       34,661
    Amortization of debt discount and transaction
     costs                                              11,465          772
    Stock-based compensation                            61,146       48,867
    Deferred income tax                                (20,351)       1,266
    Tax benefits related to stock benefit plans         24,561        8,552
    Excess tax benefits from stock-based
     compensation                                      (30,311)     (41,950)
    Other non-cash adjustments, net                      1,486          476
  Changes in assets and liabilities:
    Accounts receivable                                (37,171)      (3,312)
    Prepaid expenses and other assets                   (1,880)       4,859
    Accounts payable                                    (3,036)         501
    Accrued liabilities and restructuring costs         (1,542)       7,015
    Deferred revenue                                    60,395       20,563
                                                   -----------  -----------
      Net cash provided by operating activities        237,360      208,050
                                                   -----------  -----------

Cash flows from investing activities:
  Purchases of short-term investments                  (41,409)         (76)
  Maturities and sales of short-term investments         7,229        1,451
  Acquisitions, net of cash acquired                  (132,209)     (63,610)
  Purchases of property and equipment                  (23,723)     (13,971)
  Restricted cash pledged as security                   (1,169)      (3,234)
  Other investing activities, net                          326            -
                                                   -----------  -----------
    Net cash used in investing activities             (190,955)     (79,440)
                                                   -----------  -----------

Cash flows from financing activities:
  Proceeds from issuance of convertible debt, net      584,450            -
  Proceeds from revolving credit facility, net         116,648       30,000
  Principal payments on debt                          (152,397)      (2,269)
  Proceeds from issuance of common stock                33,417       80,610
  Repurchases of the Company's common stock           (220,265)    (194,059)
  Withholding taxes related to restricted stock net
   share settlement                                    (18,212)     (17,922)
  Excess tax benefits from stock-based compensation     30,311       41,950
                                                   -----------  -----------
    Net cash provided by (used in) financing
     activities                                        373,952      (61,690)
                                                   -----------  -----------

Effect of foreign exchange rate changes on cash and
 cash equivalents                                       (1,196)      (2,761)
                                                   -----------  -----------

Net change in cash and cash equivalents                419,161       64,159

Cash and cash equivalents at beginning of period       308,148      243,989

                                                   -----------  -----------
Cash and cash equivalents at end of period         $   727,309  $   308,148
                                                   ===========  ===========


About Non-GAAP Financial Measures

TIBCO provides non-GAAP measures for operating income, net income and net income per share data as supplemental information regarding TIBCO's business performance. TIBCO believes that these non-GAAP financial measures are useful to investors because they exclude non-operating charges. TIBCO's management excludes these non-operating charges when it internally evaluates the performance of TIBCO's business and makes operating decisions, including internal budgeting, performance measurement and the calculation of bonuses and discretionary compensation, because these measures provide a consistent method of comparison to historical periods. Moreover, management believes these non-GAAP measures reflect the essential revenue generation activities of TIBCO. Accordingly, management excludes stock-based compensation related to employee stock options, amortization of acquired intangible assets, costs related to formal restructuring activities, acquisition-related and other expenses, non-cash interest expense related to convertible debt, gains and losses on equity investments, and the income tax effects of the foregoing, as well as adjustments for the impact of changes in the valuation allowance recorded against TIBCO's deferred tax assets when making operational decisions.

TIBCO believes that providing the non-GAAP measures that management uses to its investors is useful to investors for a number of reasons. The non-GAAP measures provide a consistent basis for investors to understand TIBCO's financial performance on a trended basis across historical periods. In addition, it allows investors to evaluate TIBCO's performance using the same methodology and information as that used by TIBCO's management.

Non-GAAP measures are subject to material limitations as these measures are not in accordance with, or a substitute for, GAAP and thus TIBCO's definition may be different from similar non-GAAP measures used by other companies and/or analysts. However, TIBCO's management compensates for these limitations by providing the relevant disclosure of the items excluded in the calculation of non-GAAP operating income, non-GAAP net income and non-GAAP net income per share. In addition, some items such as restructuring charges that are excluded from non-GAAP net income and non-GAAP earnings per share can have a material impact on cash flows and stock compensation charges can have a significant impact on earnings. Management compensates for these limitations by evaluating the non-GAAP measure together with the most directly comparable GAAP measure. TIBCO has historically provided non-GAAP measures to the investment community as a supplement to its GAAP results, to enable investors to evaluate TIBCO's business performance in the way that management does.

The non-GAAP adjustments, and the basis for excluding them, are outlined below:

Amortization of Intangible Assets

TIBCO has incurred amortization of intangible assets, included in its GAAP financial statements, related to various acquisitions TIBCO has made. Management excludes these items, for the purposes of calculating non-GAAP operating income, non-GAAP net income and non-GAAP net income per share. TIBCO believes that eliminating this expense from its non-GAAP measures is useful to investors, because the amortization of intangible assets can be inconsistent in amount and frequency and is significantly impacted by the timing and magnitude of TIBCO's acquisition transactions, which also vary substantially in frequency from period to period.

Stock-based Compensation

TIBCO incurs stock-based compensation expense. TIBCO excludes this item for the purposes of calculating non-GAAP operating income, non-GAAP net income and non-GAAP net income per share because it is a non-cash expense that TIBCO believes is not reflective of its business performance. The nature of the stock-based compensation expense also makes it very difficult to estimate prospectively, since the expense will vary with changes in the stock price and market conditions at the time of new grants, varying valuation methodologies, subjective assumptions and different award types, making the comparison of current results with forward-looking guidance potentially difficult for investors to interpret. The tax effects of stock-based compensation expenses may also vary significantly from period to period, without any change in underlying operational performance, thereby obscuring the underlying profitability of operations relative to prior periods. Finally, TIBCO believes that non-GAAP measures of profitability that exclude stock-based compensation are widely used by analysts and investors in the software industry.

Acquisition-related and Other Expenses

TIBCO incurs acquisition-related and other expenses which consist of costs incurred after the issuance of a definitive term sheet for a particular transaction (whether or not such transaction is ultimately completed, remains in process or is not completed) and include legal, banker, accounting and other advisory fees of third parties and severance costs for employees of the acquired company that are terminated within 90 days of the acquisition date. Management excludes these items, for the purposes of calculating non-GAAP operating income, non-GAAP net income and non-GAAP net income per share. TIBCO believes that eliminating these expenses from its non-GAAP measures is useful to investors, because it generally would not have otherwise incurred such expenses in the periods presented as part of its continuing operations. The acquisition-related and other expenses are not recurring with respect to past transactions, can be inconsistent in amount and frequency from period to period and are significantly impacted by the timing and magnitude of TIBCO's acquisitions. While these expenses are not recurring with respect to past transactions, TIBCO generally will incur these expenses in connection with any future acquisitions.

Restructuring Activities

TIBCO incurs restructuring expenses, included in its GAAP presentation of operating expense, primarily due to workforce related charges such as payments for severance and benefits and estimated costs of exiting and terminating facility lease commitments related to a formal restructuring plan. TIBCO excludes these items, for the purposes of calculating non-GAAP operating income, non-GAAP net income and non-GAAP net income per share, when it evaluates the continuing business performance of TIBCO. TIBCO believes that these items are not consistently recurring and do not necessarily reflect expected future operating expense, nor does TIBCO believe that they provide a meaningful evaluation of current versus past business results or the expense levels required to support TIBCO's operating plan.

Non-Cash Interest Expense Related to Convertible Debt

TIBCO is required to recognize non-cash interest expense related to its 2.25% convertible senior notes issued in April 2012 as an imputed interest expense. Management excludes this incremental non-cash interest expense for purposes of calculating non-GAAP net income and non-GAAP net income per share. Under the relevant accounting guidance, TIBCO is required to separate the conversion option as an equity component from the debt and account for the debt in a manner that reflects TIBCO's non-convertible debt borrowing rate. This results in the debt component of the convertible notes being treated as though it was issued at a discount, with the debt discount being accreted as additional non-cash interest expense over the term of the notes using the effective interest method. TIBCO believes that excluding this expense from its non-GAAP measures is useful to investors because this incremental interest expense does not represent a cash outflow for the company and is not meaningful in evaluating current versus past business results. Finally, TIBCO believes that non-GAAP measures of profitability that exclude non-cash interest accretion expense are widely used by analysts and investors.


                             TIBCO Software Inc.
                 Reconciliation of GAAP to Non-GAAP Measures
                                 (unaudited)
                 (in thousands, except net income per share)


                                  Three Months Ended November 30,
                         -------------------------------------------------
                                   2012                      2011
                         ------------------------  -----------------------
                                      Net income               Net income
                                     attributable             attributable
                          Operating    to TIBCO     Operating   to TIBCO
                           Income      Software      Income     Software
                                         Inc.                     Inc.
                         ----------  ------------  ---------- ------------

GAAP                     $   73,052  $     48,788  $   70,245 $     51,878

  Amortization of
   intangible assets -
   cost of revenue            4,021         4,021       3,277        3,277
  Amortization of
   intangible assets -
   operating expense          4,813         4,813       4,596        4,596
  Stock-based
   compensation - cost of
   revenue                    1,431         1,431       1,167        1,167
  Stock-based
   compensation - R&D
   expense                    3,887         3,887       2,856        2,856
  Stock-based
   compensation - S&M
   expense                    5,844         5,844       4,350        4,350
  Stock-based
   compensation - G&A
   expense                    4,854         4,854       4,308        4,308
  Acquisition related and
   other                        502           502         154          154
  Non-cash interest
   expense related to
   convertible debt               -         3,751           -            -
  Restructuring
   adjustment                  (201)         (201)      8,816        8,816
  Income tax adjustment
   for non-GAAP                   -        (7,030)          -       (9,217)

                         ----------  ------------  ---------- ------------
Non-GAAP                 $   98,203  $     70,660  $   99,769 $     72,185
                         ==========  ============  ========== ============

Diluted net income per
 share attributable to
 TIBCO Software Inc.:

  GAAP                               $       0.29             $       0.30
                                     ============             ============

  Non-GAAP                           $       0.42             $       0.42
                                     ============             ============
Shares used to compute
 diluted net income per
 share attributable to
 TIBCO Software Inc.:                     169,284                  171,978
                                     ============             ============




                                       Year Ended November 30,
                          -------------------------------------------------
                                    2012                      2011
                          ------------------------  -----------------------
                                       Net income               Net income
                                      attributable             attributable
                           Operating    to TIBCO     Operating   to TIBCO
                            Income      Software      Income     Software
                                          Inc.                     Inc.
                          ----------  ------------  ---------- ------------

GAAP                      $  177,716  $    122,007  $  154,427 $    112,406

  Amortization of
   intangible assets -
   cost of revenue            15,899        15,899      15,512       15,512
  Amortization of
   intangible assets -
   operating expense          19,654        19,654      19,149       19,149
  Stock-based
   compensation - cost of
   revenue                     5,142         5,142       4,715        4,715
  Stock-based
   compensation - R&D
   expense                    15,131        15,131      11,441       11,441
  Stock-based
   compensation - S&M
   expense                    21,211        21,211      17,206       17,206
  Stock-based
   compensation - G&A
   expense                    19,662        19,662      15,505       15,505
  Acquisition related and
   other                       2,672         2,672       1,840        1,840
  Non-cash interest
   expense related to
   convertible debt                -         9,032           -            -
  Restructuring
   adjustment                   (648)         (648)      8,926        8,926
  Income tax adjustment
   for non-GAAP                    -       (35,037)          -      (31,431)

                          ----------  ------------  ---------- ------------
Non-GAAP                  $  276,439  $    194,725  $  248,721 $    175,269
                          ==========  ============  ========== ============

Diluted net income per
 share attributable to
 TIBCO Software Inc.:

  GAAP                                $       0.72             $       0.65
                                      ============             ============

  Non-GAAP                            $       1.15             $       1.01
                                      ============             ============
Shares used to compute
 diluted net income per
 share attributable to
 TIBCO Software Inc.:                      169,698                  173,272
                                      ============             ============

Media Relations Contact:
Leslie Moore
TIBCO Software Inc.
(650) 846-5025
Email Contact

Investor Relations Contact:
Matthew Langdon
TIBCO Software Inc.
(650) 846-5747
Email Contact

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In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
Digital Transformation is the ultimate goal of cloud computing and related initiatives. The phrase is certainly not a precise one, and as subject to hand-waving and distortion as any high-falutin' terminology in the world of information technology. Yet it is an excellent choice of words to describe what enterprise IT—and by extension, organizations in general—should be working to achieve. Digital Transformation means: handling all the data types being found and created in the organizat...
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
Malicious agents are moving faster than the speed of business. Even more worrisome, most companies are relying on legacy approaches to security that are no longer capable of meeting current threats. In the modern cloud, threat diversity is rapidly expanding, necessitating more sophisticated security protocols than those used in the past or in desktop environments. Yet companies are falling for cloud security myths that were truths at one time but have evolved out of existence.
Public Cloud IaaS started its life in the developer and startup communities and has grown rapidly to a $20B+ industry, but it still pales in comparison to how much is spent worldwide on IT: $3.6 trillion. In fact, there are 8.6 million data centers worldwide, the reality is many small and medium sized business have server closets and colocation footprints filled with servers and storage gear. While on-premise environment virtualization may have peaked at 75%, the Public Cloud has lagged in adop...