OpenCloud Reports ‘Best Ever’ Results and Consistent Strong Growth
Intense competition in telecoms driving operators to adopt OpenCloud products to deliver service innovation
CAMBRIDGE, UK – 23rd April 2014 – Telecoms software innovator OpenCloud today announced its financial results for the calendar year 2013 are its ‘best ever’. During the year OpenCloud’s revenues grew by 46%, continuing a trajectory that sets its 5 year compound growth rate (CAGR) at 48%. Early indicators from the first quarter (1Q 2014) show OpenCloud remains on plan for further strong growth in 2014.
A compelling indicator of the business value delivered through its solutions is the substantial proportion of OpenCloud’s growing success that came through its base of more than 60 telecom operator customers. During 2013, many existing customers expanded their OpenCloud deployments and identified further use cases to realise additional benefits in network transformation and service innovation projects.
Over the last year, OpenCloud further strengthened its credentials with significant additions to its customer-base. More than 25% of OpenCloud’s customers are part of the Deutsche Telekom/T-Mobile, Orange, Telefonica/O2 and Vodafone groups. This number increased during 2013 and continues to rise this year. The company also expanded further into the MVNO (mobile virtual network operator) and MVNE (mobile virtual network enabler) sector, enabling those customers to deliver their own differentiated services to both the consumer and enterprise markets.
The transition to IMS and VoLTE is a recurrent theme in the use cases for OpenCloud’s Rhino products. Several customers have begun this journey and already have a converged legacy-IMS service-layer in place to reduce the cost of, and accelerate, their service innovation programmes. IN replacement, legacy-IMS interworking and differentiated VoLTE are set to play a large part of the company’s 2014 activity.
“LTE, IMS and VoLTE create a wealth of transformational challenges for network operators and, in parallel, competition amongst telecoms service providers continues to intensify.” said Jeff Gordon, CEO of OpenCloud, “OpenCloud enables its customers to adapt and evolve their networks and services faster and more cost effectively than traditional telecoms solutions. Delivering these highly valuable competitive advantages is the foundation of our success, and the volume of business coming from satisfied customers is testimony to the value OpenCloud delivers.”