IT Research Firm Finds Verity's Lead Lengthening In Information Access Software Market
Company Building on #1 Position Overall, in Key Vertical Industries
Year-Over-Year Market Share Growth Seen Against Major Competitors' Declines
SUNNYVALE, Calif. - 2002-11-12 - Verity, Inc., (NASDAQ: VRTY), a leading provider of infrastructure software that powers corporate intranets and e-commerce sites as well as e-business applications, is growing its global market share in the information access software category while continuing to strengthen its #1 position in several important vertical industries, according to a just-released report from Gartner Dataquest titled "Collaboration Software and Knowledge Management Tools Market Statistics, 2002."
The annual accounting of software license revenue conducted by Dataquest Inc., a unit of Gartner Inc., a leading industry research firm, shows Verity holding a 35.9 percent share of the total market in 2001, more than 10 percentage points ahead of its nearest competitor. During that period Verity exhibited a dramatic growth rate in contrast to double-digit negative share growth shown by most other companies offering information access software.
According to Burke Oppenheimer, a research analyst with Gartner Dataquest, and author of the report, "Information location and retrieval has become a high profile issue in today's knowledge workplace. This software is crucial to help improve the productivity of and save time for knowledge workers, and it is not difficult to make a solid business case to justify the purchase of these applications."
"We believe that Verity's market-leading performance, as evidenced by the Gartner Dataquest report, is the result of Verity developing and delivering information access software that performs beyond customers' expectations, and provides meaningful, measurable results," said Anthony J. Bettencourt, Verity president. "Companies see in Verity a software company that has the wherewithal to grow as they grow, to serve their needs as they become more extensive."
#1 in Vertical Industries
The Gartner Dataquest report also analyzed the revenue share data of the following eight vertical industries: manufacturing, trade, information, finance and insurance, professional, scientific and technical services, health care and social assistance and public administration.
Verity was the #1 in six of the eight categories, and recorded strong market share growth in every industry; while most other companies showed market share declines. As it tallied on a global basis, Verity's compound annual growth rate was 56 percent or higher for each vertical industry.
About Verity
Headquartered in Sunnyvale, Calif., 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 intranets used for sharing information within an enterprise; e-commerce sites 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 approximately 80 percent of the Fortune 50 and by more than 1,500 corporations in various markets. Customers include Adobe Systems, AT&T, Cap Gemini Ernst & Young, Cisco, CNET, Compaq, Dow Jones, EDGAR Online, FairMarket, Financial Times, Globe and Mail, Home Depot, Lotus, SAP, Siemens, Sybase, Time New Media and Timex.
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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