|By Business Wire||
|January 28, 2013 08:54 PM EST||
Pervasive Software® Inc. (NASDAQ: PVSW), a global leader in cloud-based and on-premises data innovation, today announced financial results for the second quarter ending December 31, 2012.
For the second quarter ended December 31, 2012:
- Revenue was $12.5 million, consistent with the company's $11.8 million to $12.8 million expectations communicated on October 23, 2012, and compared to $11.9 million for the second quarter of last fiscal year. Domestic revenue totaled $8.4 million or 67%, while international revenue totaled $4.1 million or 33%.
- Net income was $0.4 million, or $0.03 diluted earnings per share, net of a $0.02 negative impact from unsolicited proposal costs, at the high end of expectations in the range of $0.01 to $0.04 excluding unsolicited proposal costs as communicated on October 23, 2012, and compared to net income of $0.5 million, or $0.03 diluted earnings per share, for the second quarter of last fiscal year.
- On a non-GAAP basis, as described below, Pervasive realized net income of $1.1 million, or $0.06 diluted earnings per share, at the high end of expectations in the range of $0.03 to $0.06 excluding unsolicited proposal costs as communicated on October 23, 2012, and compared to net income of $0.8 million, or $0.05 diluted earnings per share, in the second quarter of last fiscal year. Non-GAAP results exclude amortization of purchased intangibles, stock-based compensation expense and costs associated with the unsolicited Actian Proposal and Related Solicitation of Potential Bids ("unsolicited proposal costs"), and assume a non-GAAP effective tax rate of 34%.
Pervasive continued to maintain a solid cash position in the second quarter of fiscal 2013, ending the quarter with approximately $45.7 million in cash and marketable securities. Database and integration products represented approximately 59% and 36%, respectively, of total revenue while Pervasive Business Xchange™ and Big Data & Analytics products made up the remainder. The Company had 263 employees at December 31, 2012.
Pending Merger Transaction
On January 28, 2013, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Actian Corporation, a Delaware corporation (“Actian”), and Actian Sub II, Inc., a Delaware corporation and wholly owned subsidiary of Actian, pursuant to which Actian will acquire, subject to certain exceptions, all of the outstanding shares of the Company’s common stock for a purchase price of $9.20 per share in cash. The merger is currently expected to close in the second calendar quarter of 2013 and is subject to customary closing conditions, including approval by Pervasive’s stockholders, Hart-Scott-Rodino anti-trust clearance, Securities and Exchange Commission clearance and stock exchange approvals.
TC Lending, LLC, a subsidiary of TPG Specialty Lending, Inc., has committed to provide debt financing for the transaction, subject to certain terms and conditions. Shea & Company, LLC serves as financial advisor to the Board of Directors of Pervasive Software.
In light of this ongoing process, the company is not hosting the customary conference call following today's earnings release.
Additional Information about the Pending Merger and Where to Find It
This communication may be deemed to be solicitation material in respect of the pending merger of the Company with a subsidiary of Actian. In connection with the pending transaction, the Company intends to file a preliminary proxy statement and other relevant materials with the Securities and Exchange Commission (“SEC”), and intends to file a definitive proxy statement and other relevant materials. The definitive proxy statement will be sent or given to the stockholders of the Company and will contain important information about the pending transaction and related matters. BEFORE MAKING ANY VOTING DECISION, PERVASIVE SOFTWARE STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND THOSE OTHER MATERIALS CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY AND THE PENDING TRANSACTION. The proxy statement and other relevant materials (when they become available), and any other documents filed by Pervasive Software with the SEC, may be obtained free of charge at the SEC’s website at www.sec.gov. In addition, security holders will be able to obtain free copies of the proxy statement from Pervasive Software by contacting Pervasive Software’s Investor Relations by telephone at 800.287.4383, or by mail at Pervasive Software Inc., 12365 Riata Trace Pkwy, Austin, Texas 78727, Attention: Investor Relations, or by going to Pervasive Software’s Investor Relations page on its corporate web site at www.pervasive.com.
Participants in the Solicitation
Pervasive Software and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of Pervasive Software in connection with the pending merger. Information regarding the interests of these directors and executive officers in the transaction described herein will be included in the proxy statement described above. Additional information regarding these directors and executive officers is included in Pervasive Software’s Annual Proxy Statement on Form DEF 14A, which was filed with the SEC on October 5, 2012.
About Pervasive Software
Pervasive is a global data innovation leader, delivering software to manage, integrate and analyze data, in the cloud or on-premises, throughout the entire data lifecycle. Pervasive products deliver value to tens of thousands of customers worldwide, often embedded within partners' software, with breakthrough performance, flexibility, reliability and return on investment. For additional information, go to www.pervasive.com.
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 tables entitled "Reconciliation of GAAP Measures to Non-GAAP" and "Reconciliation of Forward-Looking Guidance."
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The forward-looking statements contained in this document may include statements about future financial and operating results, benefits to Pervasive’s customers and the proposed transaction. These statements are not guarantees of future performance, involve certain risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. Therefore, actual outcomes and results may differ materially from what is expressed herein. For example, if Pervasive does not receive required stockholder approval or fails to satisfy other conditions to closing, the transaction will not be consummated. In any forward-looking statement in which Pervasive expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the statement or expectation or belief will result or be achieved or accomplished. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: risks associated with uncertainty as to whether the transaction will be completed, costs and potential litigation associated with the transaction, the failure to obtain approval from Pervasive’s stockholders, the failure of either party to meet the closing conditions set forth in the merger agreement, the extent and timing of regulatory approvals and the risk factors discussed from time to time by the company in reports filed with the SEC. We urge you to carefully consider the risks which are described in Pervasive’s Annual Report on Form 10-K for the year ended June 30, 2012, Pervasive’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2012 and in Pervasive’s other SEC filings. Pervasive is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events, or otherwise.
All Pervasive brand and product names are trademarks or registered trademarks of Pervasive Software Inc. in the United States and other countries. All other marks are the property of their respective owners.
|Pervasive Software Inc.|
|Condensed Consolidated Balance Sheets|
|December 31,||June 30,|
|Cash and cash equivalents||$||27,585||$||11,115|
|Trade accounts receivable, net||8,396||8,528|
|Deferred tax assets, net||987||1,169|
|Prepaid expenses and other current assets||1,952||1,240|
|Total current assets||57,009||53,661|
|Property and equipment, net||1,286||1,295|
|Deferred tax assets, net||2,134||2,231|
|LIABILITIES AND STOCKHOLDERS' EQUITY|
|Accounts payable and accrued liabilities||$||6,343||$||6,677|
|Total current liabilities||13,500||14,447|
|Total liabilities and stockholders' equity||$||99,993||$||97,109|
|Pervasive Software Inc.|
|Condensed Consolidated Statements of Income|
|(in thousands, except per share data)|
|Three months ended||Six months ended|
|December 31||December 31|
|Services and other||4,730||4,651||9,014||8,761|
|Costs and expenses:|
|Cost of product licenses||378||349||827||717|
|Cost of services and other||1,761||1,491||3,490||2,848|
|Sales and marketing||4,886||4,933||10,004||9,865|
|Research and development||3,219||3,033||6,581||6,119|
|General and administrative||1,256||1,526||2,507||3,279|
|Unsolicited proposal costs||433||-||579||-|
|Total costs and expenses||11,933||11,332||23,988||22,828|
|Interest and other income, net||9||18||19||34|
|Income tax provision||(145||)||(60||)||(333||)||(124||)|
|Diluted earnings per share||$||0.03||$||0.03||$||0.05||$||0.04|
|Shares used in computing diluted earnings per share||16,747||16,151||16,581||16,211|
|Pervasive Software Inc.|
|Condensed Consolidated Statements of Cash Flows|
|Three months ended||Six months ended|
|December 31||December 31|
|Cash from operations|
|Adjustments to reconcile net income to net cash provided by operations:|
|Depreciation & amortization||327||327||649||684|
|Non-cash stock compensation expense||481||468||984||913|
|Non-cash changes in deferred tax assets||141||(255||)||280||(206||)|
|Other non-cash adjustments||-||-||150||-|
|Changes in current assets and liabilities:|
|Trade accounts receivable||532||440||(13||)||907|
|Prepaid expenses and other current assets||219||(101||)||(259||)||231|
|Accounts payable and accrued liabilities||(316||)||268||(757||)||(692||)|
|Deferred rent and lease related accruals||(32||)||308||(64||)||616|
|Net cash provided by operations||1,925||2,268||1,241||3,501|
|Cash from investing activities|
|Purchase of property and equipment||(232||)||(124||)||(376||)||(482||)|
|Sales and purchases of marketable securities, net||6,239||2,514||13,514||(1,916||)|
|Decrease in other assets||1||2||2||4|
|Net cash provided by (used in) investing activities||6,008||2,392||13,140||(2,394||)|
|Cash from financing activities|
|Proceeds from exercise of stock options||1,276||97||2,097||488|
|Acquisition of treasury stock||-||(505||)||(3||)||(693||)|
|Net cash used in financing activities||1,276||(408||)||2,094||(205||)|
Effect of exchange rate on cash and cash equivalents
|Increase (decrease) in cash and cash equivalents||9,157||4,222||16,470||862|
|Cash and cash equivalents at beginning of period||18,428||4,920||11,115||8,280|
|Cash and cash equivalents at end of period||$||27,585||$||9,142||$||27,585||$||9,142|
About Non-GAAP Financial Measures
The company provides non-GAAP measures for net income and net income per share data as supplemental information regarding the company's core business operational performance. The company believes that these non-GAAP financial measures are useful to investors because they exclude certain non-operating or non-recurring charges. The company's management excludes these non-operating or non-recurring charges when it internally evaluates the performance of the company's business and makes operating decisions, including internal budgeting, performance measurement and the calculation of bonuses and discretionary compensation. In addition, these non-GAAP measures more closely reflect the essential revenue generation activities of the company and the direct operating expenses (resulting in or from cash expenditures) needed to perform these revenue generating activities. Accordingly, management excludes the amortization of purchased intangible assets related to acquisitions, stock-based compensation related to employee stock options and unsolicited proposal costs.
The company believes that providing the non-GAAP measures that management uses is useful to investors for two primary reasons. First, it provides a consistent basis for investors to understand the company's financial performance on a trended basis across many historical periods. And second, it allows investors to evaluate the company's performance using the same methodology and information as that used by the company's management.
Non-GAAP measures are subject to material limitations as these measures are not in accordance with, or a substitute for, US GAAP, and therefore the company's definition or interpretation may be different from similar non-GAAP measures used by other companies and independent financial analysts. However, the company's management compensates for these limitations by providing the relevant and detailed disclosure of the items excluded in the calculation of non-GAAP net income and non-GAAP diluted earnings per share, which should be supplementally considered when evaluating the company's results. In addition, items such as amortization of purchased intangibles, stock compensation charges and significant and non-recurring items that are excluded from non-GAAP net income and non-GAAP diluted earnings per share 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. The company has historically provided non-GAAP measures to the investment community as a supplement to its GAAP results, to enable investors to evaluate the company's core operating performance the way management does. The non-GAAP adjustments, and the basis for excluding them, are outlined below:
Amortization of Purchased Intangibles
The company has recorded amortization of acquired intellectual property intangibles, included in its GAAP financial statements, related to the acquisition of assets of ChanneLinx, Inc. Management excludes these items for purposes of calculating non-GAAP net income and non-GAAP diluted earnings per share. The company believes that eliminating this expense in determining its non-GAAP measures is useful to investors because doing so provides a consistent basis for investors to understand the company's financial performance on a trended basis across many historical periods, it allows investors to evaluate the company's performance using the same methodology and information as that used by the company's management, and it allows a comparison with other peer companies in the software industry, many of whom use similar non-GAAP financial measures to supplement their GAAP results. Finally, the company believes that non-GAAP measures of profitability that exclude amortization of acquired intellectual property intangibles are widely used by analysts and investors in the software industry.
Stock-based Compensation Expense
The company has incurred stock-based compensation expense as determined under ASC 718 (formerly SFAS 123R) for the quarters ending on or after September 30, 2005, and under APB 25 for earlier comparable periods in its GAAP financial results. Since stock-based compensation is a non-cash charge, the company excludes this item for the purposes of calculating non-GAAP net income and non-GAAP diluted earnings per share. In addition, the exclusion of stock-based compensation from the non-GAAP measures is done to allow a consistent basis for investors to understand the company's financial performance on a trended basis across many historical periods, allow investors to evaluate the company's performance using the same methodology and information as that used by the company's management, and allow a comparison with other peer companies in the software industry, many of whom use similar non-GAAP financial measures to supplement their GAAP results. The very 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 core revenue-generating operations relative to prior periods (including prior periods following the adoption of ASC 718, formerly SFAS 123R). Finally, the company believes that non-GAAP measures of profitability that exclude stock-based compensation are widely used by analysts and investors in the software industry.
Unsolicited Proposal Costs
The company has incurred expenses related to an unsolicited, non-binding proposal received from Actian Corporation on August 13, 2012. Management excludes these costs for purposes of calculating non-GAAP net income and non-GAAP diluted earnings per share. The costs associated with this unsolicited proposal include legal fees, financial consultation fees, M&A advisory fees and other costs related to these services. The exclusion of unsolicited proposal costs from the non-GAAP measures is done to allow a consistent basis for investors to understand the company's financial performance on a trended basis across many historical periods, allow investors to evaluate the company's performance using the same methodology and information as that used by the company's management, and allow a comparison with other peer companies in the software industry, many of whom use similar non-GAAP financial measures to supplement their GAAP results. Finally, the company believes that non-GAAP measures of profitability that exclude such significant and non-recurring items are widely used by analysts and investors in the software industry.
Income Tax Adjustment
Income taxes represent a complex element of any company's income statement, and effective tax rates can vary widely from year to year and from company to company, especially in periods in which adjustments are made to a company's valuation reserve for deferred tax assets. The company uses a statutory tax rate of 34% to reflect income tax adjustments in presentation of its non-GAAP net income and non-GAAP diluted earnings per share. Utilization of a statutory tax rate for presentation of the non-GAAP measures is done to allow a consistent basis for investors to understand the company's financial performance on a trended basis across many historical periods, allow investors to evaluate the company's performance using the same methodology and information as that used by the company's management, and allow a comparison with other peer companies in the software industry, many of whom use similar non-GAAP financial measures to supplement their GAAP results. Finally, the company believes that non-GAAP measures of profitability that are based on more standardized statutory tax rates are widely used by analysts and investors in the software industry.
|Pervasive Software Inc.|
|Reconciliation of GAAP Measures to Non-GAAP|
|(in thousands, except per share data)|
|Three months ended||Six months ended|
|December 31,||December 31,|
|Net Income||Net Income||Net Income||Net Income|
|Amortization of intangible assets -|
|cost of product licenses||130||130||260||260|
|Stock-based compensation -|
|cost of services and other||20||15||39||29|
|Stock-based compensation -|
|sales and marketing expense||174||148||363||281|
|Stock-based compensation -|
|research and development expense||101||75||216||149|
|Stock-based compensation -|
|general and administrative expense||186||229||366||453|
|Unsolicited proposal costs||433||579|
|Income tax adjustment for non-GAAP||(411||)||(334||)||(702||)||(550||)|
|GAAP net income per share - diluted||$||0.03||$||0.03||$||0.05||$||0.04|
|Non-GAAP net income per share - diluted||$||0.06||$||0.05||$||0.12||$||0.08|
|Shares used to compute GAAP net income|
|per share - diluted||16,747||16,151||16,581||16,211|
|Shares used to compute non-GAAP net income|
|per share - diluted||17,418||16,514||17,303||16,556|
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
May. 27, 2016 10:00 AM EDT Reads: 3,076
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 18th International CloudExpo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
May. 27, 2016 10:00 AM EDT Reads: 2,291
SYS-CON Events announced today that Hanu Software will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Leveraging best-in-class people, processes, and technologies, Hanu provides high-quality, high-value software development and business process outsourcing services to independent software vendors (ISVs) and enterprises.
May. 27, 2016 10:00 AM EDT Reads: 1,302
SYS-CON Events announced today Object Management Group® has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
May. 27, 2016 10:00 AM EDT Reads: 2,361
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
May. 27, 2016 10:00 AM EDT Reads: 1,274
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
May. 27, 2016 09:45 AM EDT Reads: 1,030
The initial debate is over: Any enterprise with a serious commitment to IT is migrating to the cloud. But things are not so simple. There is a complex mix of on-premises, colocated, and public-cloud deployments. In this power panel at 18th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists will look at the present state of cloud from the C-level view, and how great companies and rock star executives can use cloud computing to meet their most ambitious and disruptive business ...
May. 27, 2016 09:45 AM EDT Reads: 2,172
The cloud era has reached the stage where it is no longer a question of whether a company should migrate, but when. Enterprises have embraced the outsourcing of where their various applications are stored and who manages them, saving significant investment along the way. Plus, the cloud has become a defining competitive edge. Companies that fail to successfully adapt risk failure. The media, of course, continues to extol the virtues of the cloud, including how easy it is to get there. Migrating...
May. 27, 2016 09:45 AM EDT
SYS-CON Events announced today that Isomorphic Software will exhibit at SYS-CON's [email protected] at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, high-productivity enterprise web applications for any device. SmartClient couples the industry’s broadest, deepest UI component set with a java server framework to deliver an end-...
May. 27, 2016 09:00 AM EDT Reads: 2,095
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
May. 27, 2016 09:00 AM EDT Reads: 1,885
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...
May. 27, 2016 09:00 AM EDT Reads: 2,410
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.
May. 27, 2016 09:00 AM EDT Reads: 1,940
What a difference a year makes. Organizations aren’t just talking about IoT possibilities, it is now baked into their core business strategy. With IoT, billions of devices generating data from different companies on different networks around the globe need to interact. From efficiency to better customer insights to completely new business models, IoT will turn traditional business models upside down. In the new customer-centric age, the key to success is delivering critical services and apps wit...
May. 27, 2016 08:45 AM EDT Reads: 1,115
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
May. 27, 2016 08:00 AM EDT Reads: 1,250
Join us at Cloud Expo | @ThingsExpo 2016 – June 7-9 at the Javits Center in New York City and November 1-3 at the Santa Clara Convention Center in Santa Clara, CA – and deliver your unique message in a way that is striking and unforgettable by taking advantage of SYS-CON's unmatched high-impact, result-driven event / media packages.
May. 27, 2016 08:00 AM EDT Reads: 2,358
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and ...
May. 27, 2016 07:45 AM EDT Reads: 480
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, will provide an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life ...
May. 27, 2016 07:45 AM EDT Reads: 1,911
As cloud and storage projections continue to rise, the number of organizations moving to the cloud is escalating and it is clear cloud storage is here to stay. However, is it secure? Data is the lifeblood for government entities, countries, cloud service providers and enterprises alike and losing or exposing that data can have disastrous results. There are new concepts for data storage on the horizon that will deliver secure solutions for storing and moving sensitive data around the world. ...
May. 27, 2016 07:00 AM EDT Reads: 1,272
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, will explore the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences betwee...
May. 27, 2016 07:00 AM EDT Reads: 1,609
SYS-CON Events announced today that BMC Software has been named "Siver Sponsor" of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. BMC is a global leader in innovative software solutions that help businesses transform into digital enterprises for the ultimate competitive advantage. BMC Digital Enterprise Management is a set of innovative IT solutions designed to make digital business fast, seamless, and optimized from mainframe to mo...
May. 27, 2016 06:45 AM EDT Reads: 2,114