Verity Named to Fortune's 100 Fastest-Growing Companies and Software Magazine's Annual Software 500 Lists
Verity Named Fortune's Second Fastest-Growing Software Company;
Second consecutive Software Magazine Award for Leading Provider of Portal Infrastructure Software
SUNNYVALE, CA - 2001-11-07 - Verity, Inc. (Nasdaq: VRTY), a leading provider of infrastructure software powering enterprise and e-commerce portals as well as e-business applications, today announced that Fortune magazine has ranked Verity number 17 on its 100 Fastest-Growing Companies list and is the second fastest-growing software company. Software Magazine has also declared Verity one of the top portal vendors in the magazine's 19th Annual Software 500 list. Verity previously won the Software Magazine award in 2000.
"To be recognized by Fortune and again by Software Magazine is a true testament to Verity's leadership in the portal infrastructure software market," said Anthony J. Bettencourt, Verity's president. "We are honored to be awarded for our expertise in providing global customers with market-leading search, classification and categorization software and for our experience in helping businesses profit from this information. This could not have been done without the talent and determination that each employee brings to Verity."
Each company on Fortune's annual 100 Fastest-Growing Companies list, compiled by Zacks Investment Research, demonstrates at least 30 per cent annual growth over the last three years evaluated in revenue and earnings-per-share, and delivers positive earnings for the last four quarters evaluated. Verity's evaluation period concluded with the quarter ending March 2001.
Software Magazine's annual compendium of software and service suppliers catalogs the ranking, financial performance and growth, and primary business sector for each company as well as trend information for the Software 500 companies. The Software 500 is a comprehensive look at the enterprise software landscape, encompassing both public and private companies that develop business software and services. The ranking is based on total worldwide software and services revenue for the year 2000. Software revenue includes license fees, as well as maintenance and support revenue, professional services/consulting, and custom programming. The financial information is based on calendar year 2000 results and was gathered from Software Magazine's vendor survey, public documents and industry analysts.
"The rankings reflect industry confidence in Verity's innovation and approach to developing high-impact products for businesses," said Bettencourt. The recently launched Verity® K2 Enterprise, for example, is advanced portal infrastructure software that allows users to organize, discover and connect with electronic information scattered in repositories throughout an enterprise. K2 Enterprise's Social Network foundation connects users to relevant documents and experts within their enterprise, helping them to fully exploit internal resources in less time. Other advanced K2 Enterprise capabilities include intelligent classification, personalization, enterprise security and support for 26 languages.
About Verity
Headquartered in Sunnyvale, California, Verity is a leading provider of business portal infrastructure software. Verity software gives businesses a multitude of ways to improve access to vital information and perform a range of e-business operations, while enhancing the end-user experience. Verity-powered business portals, which include corporate portals used for sharing information within an enterprise; e-commerce portals for online selling; and market exchange portals for B2B activities, all provide personalized information to employees, partners, customers and suppliers.
Verity products are used by 80 percent of the Fortune 50 and by more than 1,500 corporations in various markets. Customers include Adobe Systems, American Greetings, AT&T, Cisco, CNET, Compaq, Dow Jones, EDGAR Online, Caps Gemini Ernst & Young, FairMarket, Financial Times, Globe and Mail, Home Depot, Lotus, NewsEdge Corporation, SAP, Siemens, Sybase, Time New Media and Timex. In 2001, Delphi Group named Verity as the market leader in the portal infrastructure software.
For more information, contact Verity at info@verity.com or at World Wide Web site http://www.verity.com or call 408-541-1500.
Verity and the Verity logo are registered trademarks or trademarks of Verity, Inc.
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