Delphi Study Finds Verity Far Ahead of Nearest Competitor
Research Shows Verity Holds Commanding Marketshare & Mindshare
SUNNYVALE, Calif. - 2002-10-02 - In a soon-to-be-released research study, market advisor Delphi Group will reveal that Verity, Inc. (NASDAQ: VRTY), a leading provider of infrastructure software powering enterprise and e-commerce portals as well as e-business applications, retains its clear leadership in the information retrieval software market with #1 overall share of the market.
According to the research, a look into the business use of information retrieval technologies, and resulting software license revenue during calendar 2001, Verity has the largest overall share of market in the information retrieval software category. Delphi defines the information retrieval software category as consisting of five segments: Basic Search, Advanced Search, Taxonomy & Classification, Expertise Management/Question Answering and Ontologies/Topic Maps. Specifically, Verity holds the lead in the three largest segments of Basic Search, Advanced Search and Taxonomy & Classification, which Delphi calculates as representing 90 percent of the total information retrieval software category. With an overall market share of 22 percent, Verity holds a 10-percentage point lead over the next nearest competitor in this market analysis, which calculated leadership on a software license revenue basis.
In addition, Verity ranked first in the perception of enterprise managers as the company providing leadership in enterprise search technology. This mindshare benchmark was collected by Delphi research through a blind poll survey in which enterprise managers were required to type in the name of the vendor they viewed as providing industry leadership in a particular information retrieval segment. Verity received over 50% more votes for enterprise search technology leadership than the closest alternative supplier.
"Our examination found Verity's leadership in information retrieval continued during a difficult market in 2001. In addition to the general business slowdown, enterprises are engaged in an industry-wide transition from a focus on basic search technology to adoption of new technologies for advanced, concept-based search and classification," said Hadley Reynolds, Delphi's Director of Research. "We found that organizations are increasingly recognizing the contribution these technologies can make in helping leverage information assets for increased commerce and a smarter workplace. Verity is playing a lead role in helping enterprises migrate into the new generation of technologies."
The 2001 Delphi study identified over 70 companies competing in the information retrieval software market that garnered a total of $403 million in license revenue in 2001. After a projected slowdown in 2002, the research group believes this software segment will grow significantly going forward, as adoption of this technology becomes more widespread. It estimates the market will be $538 million by 2004.
"Delphi Group's findings validate more than Verity's market leadership. This study also serves to show the strength and appeal of the Verity K2 integrated three tier platform, which includes the search and classification segments of the Delphi-defined information retrieval software segment, and personalization capabilities," said Mike Zuckerman, Verity's vice president of marketing.
About Delphi Group
Delphi Group (www.delphigroup.com) is the leading provider of business advisory services that illuminate the value proposition of technology in digital business practice. Delphi Group's market advisory services, consulting, research, and community-building educational events worldwide have assisted more than 20,000 professionals in the Global 2000. Delphi market research is available on the World Wide Web at www.delphiweb.com. For more information contact Delphi Client Services at (617) 247-1025 or 800-575-3367.
About Verity
Headquartered in Sunnyvale, California, Verity is a leading provider of intelligent 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 software is used for sharing information within and between enterprises, for facilitating e-commerce sales, and for B2B activities on Web-based market exchanges. In addition, Verity technology serves as a core component of many leading e-business applications.
Verity products are used by approximately 80 percent of the Fortune 50 and by more than 1,500 organizations in the private and public sectors. Customers include Adobe Systems, AT&T, Cisco, CNET, Compaq, Dow Jones, EDGAR Online, Cap Gemini Ernst & Young, FairMarket, Financial Times, Globe and Mail, Home Depot, Lotus, SAP, Siemens, Sybase, Time New Media and Timex.
The statements in this press release regarding Delphi's belief that Verity could extend its market share, and projections for the growth in the market, are forward-looking statements. Actual results are subject to risks and uncertainties, including: the risk that Verity will not increase its market share due to continuing competition or the development of new products by Verity's competitors; and the risk that Delphi's market projections will not materialize due to the risk that the economic slowdown currently being experienced will get worse or continue for a longer period than anticipated. Other risks relating to Verity and its products are set forth under the caption "Risk Factors" in Verity's latest Form 10-K filed with the United States Securities and Exchange Commission.
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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