July 21, 2008

Press Release

BWise Announces Second Quarter Success
Demand for Leading GRC Market Solution Increases with Accelerating Revenue across the Globe

New York, NY, Rosmalen, Netherlands, July 21, 2008 – BWise, a leading provider of governance, risk and compliance (GRC) software solutions, today announced continued success for the second quarter of 2008, coming off of a record growth period for the first quarter. The company’s cash positive results are solidified by numerous factors including:

Continued financial performance on target for the first six months:

Grew Europe revenue 334 percent
Grew U.S. revenue 69 percent
Demonstrated commitment to customer service:

License and maintenance represented 73 percent of revenue
Continue to grow worldwide staff by 39 percent growth
In addition to these accomplishments, BWise welcomed new customers in several industries including financial services, manufacturing and real estate. The U.S. Customer Summit in Boston held in May reaffirmed customer success, with Southern Company receiving the honor of a 2008 U.S. Innovation Award for setting a new industry standard with the GRC results achieved through BWise 4.0, the latest release of BWise. Customers collaborated to discuss key trends and developments in GRC and BWise unveiled new products that will set additional benchmarks of excellence to help companies significantly increase operational effectiveness and reduce risk.

BWise also continued to gain recognition from industry analysts, and was named in the Visionaries quadrant in the Gartner “Magic Quadrant for Enterprise Governance, Risk, and Compliance Platforms” by French Caldwell, Tom Eid. In addition, BWise was placed in the Gartner “Magic Quadrant for Operational Risk Management Software for Financial Services” by Douglas McKibben, David Furlonger, June 6, 2008.

“At BWise, our customers shape our market success,” stated Robert Pijselman, CEO of BWise. “As the second quarter of 2008 illustrates, the tight collaboration between us and the market we serve enables us to repeatedly raise the bar for GRC excellence. We look forward to adding to this record of accomplishments and recognition as we build on nearly 15 years of growing industry leadership.”

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The Magic Quadrants are copyrighted 2008 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. 

 

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