Pegasystems Named to Software Magazine's 21st Annual Software 500; Software Magazine Ranks BPM Provider Pegasystems Inc. Among the World's Largest Software Companies
CAMBRIDGE, Mass., Jan. 16, 2004 — Pegasystems Inc., (NASDAQ: PEGA), a leading provider of smart, rules-based business process management (BPM) software, today announced its position on the Software 500, Software Magazine's list of the world's foremost software and services providers. Pegasystems was ranked 172nd, with software revenue of $97.4 million in 2002 — an improvement of 30 places over last year's position.
In its summary of the business process management (BPM) market, Software Magazine noted Pegasystems' revenue increase in 2002 — a year, the magazine reported, in which overall software industry revenues declined by four per cent. The magazine also cited the company's positioning by Gartner as a "visionary leader in the 'pure play' BPM market."
The Software 500 is a comprehensive, annual look at the software industry, targeting enterprise IT organizations with software and services, and includes both private and public companies. It is conducted on the Web with help from The Standish Group, a research and analyst firm based in Yarmouthport, Mass.
The ranking is based on total worldwide software and service revenue for 2002. This includes revenues from software licenses, maintenance and support, training, and software-related services and consulting. Suppliers are not ranked on their total corporate revenue, since many have other lines of business, such as hardware. The financial information was gathered by a survey prepared by King Content Co., as well as from public documents, and posted at www.softwaremag.com.
"IT spending continued to be slow through the period measured by the 2003 Software 500. While the list has changed substantially with additions and deletions, certain niches paid off," said John Desmond, Softwaremag.com's editorial director and publisher.
About Softwaremag.com, The IT Software Journal
Softwaremag.com, the Web publishing effort of Software Magazine, a 20-year brand name in the industry, is the online catalog to enterprise software and the home of the Software 500 ranking of the world's largest software and services companies, now in its 21st year. Softwaremag.com is produced by King Content Co., the Web content development and publishing firm run by John P. Desmond, which acquired the product in 2003.
Certain statements contained in this press release may be construed as "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "hope," "anticipate," "plan," and similar expressions identify forward-looking statements, which speak only as of the date the statement was made. The company does not undertake and specifically disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These statements are based on current expectations and assumptions and involve various risks and uncertainties, which could cause the Company's actual results to differ from those expressed in such forward-looking statements. These risks and uncertainties include impact of pending regulatory proceedings, difficulty in predicting the completion of product implementations and consequently the timing of revenue recognition, the inability to attract and retain key employees, reliance on key third-party relationships, management of the Company's growth, and other risks and uncertainties. Further information regarding these and other factors which could cause the Company's actual results to differ materially from any forward-looking statements contained in this press release is contained in the Company's Quarterly Report on Form 10Q for the quarter ended September 30, 2003 on file with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on such forward-looking statements and there are no assurances that the matters contained in such statements will be achieved.
NOTE: Pegasystems is a registered trademark of Pegasystems Inc. Other product and company names may be trademarks of their respective owners.
Pegasystems (NASDAQ: PEGA) develops strategic applications for marketing, sales, service, and operations. Pega’s applications streamline critical business operations, connect enterprises to their customers seamlessly in real-time across channels, and adapt to meet rapidly changing requirements. Pega’s Global 3000 customers include many of the world’s most sophisticated and successful enterprises. Pega’s applications, available in the cloud or on-premises, are built on its unified Pega 7 platform, which uses visual tools to easily extend and change applications to meet clients’ strategic business needs. Pega’s clients report that Pega gives them the fastest time to value, extremely rapid deployment, efficient re-use, and global scale. For more information, please visit us at www.pega.com.
All trademarks are the property of their respective owners.
The information contained in this press release is not a commitment, promise, or legal obligation to deliver any material, code or functionality. The development, release and timing of any features or functionality described remains at the sole discretion of Pegasystems, Pegasystems specifically disclaims any liability with respect to this information.
Lisa Pintchman Rogers
VP, Corporate Communications
Director, Corporate Communications
Sr. Manager, Public Relations
Director, Corporate Communications
+44 (0) 118 9651 660
PR & Communications Manager
+44 (0) 118 9398 584
One Rogers St.
Cambridge, MA 02142
Phone +1 617-374-9600
Fax +1 617-374-9620