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RESTON, Va., Feb. 14, 2013 /PRNewswire/ -- comScore, Inc. (NASDAQ: SCOR), a leader in measuring the digital world, today announced financial results for the fourth quarter and full year of 2012.
Fourth Quarter 2012 In the fourth quarter of 2012, comScore achieved record quarterly revenue of $68.4 million, an increase of 9% over the fourth quarter of 2011, driven by robust growth in the Company's Media Metrix suite of audience measurement products, in addition to accelerated momentum across its product offerings in mobile, advertising campaign measurement and digital business analytics. This revenue growth was partially offset by declines in the Company's non-health copy testing and configuration manager products, which comScore is evaluating for divestiture or elimination. Excluding revenue from these products, fourth quarter revenue, measured on a non-GAAP pro forma basis, would have increased 12% over the comparable period in 2011.
GAAP loss before income taxes was ($1.9) million in the fourth quarter of 2012, compared to ($4.4) million in the fourth quarter of 2011. GAAP net loss was ($1.6) million, or ($0.05) per basic and diluted share, in the fourth quarter of 2012, compared to ($3.3) million, or ($0.10) per basic and diluted share, in the fourth quarter of 2011. Non-GAAP net income in the fourth quarter of 2012 was $7.9 million, or $0.22 per diluted share, compared to $11.8 million, or $0.35 per diluted share, in the fourth quarter of 2011. Adjusted EBITDA was $12.2 million or 18% of revenue in the fourth quarter of 2012, compared to adjusted EBITDA of $15.4 million in the fourth quarter of 2011.
Full Year 2012 For the full year 2012, comScore reported revenue of $255.2 million, an increase of 10% from 2011. Excluding the non-health copy testing and configuration manager products, revenue in 2012, measured on a non-GAAP pro forma basis, would have increased 13% over 2011 revenue. GAAP loss before income taxes was ($9.4) million in 2012 compared to ($18.8) million in 2011. GAAP net loss was ($11.8) million, or ($0.35) per basic and diluted share, in 2012 compared to ($15.8) million, or ($0.49) per basic and diluted share, for the full year 2011. Non-GAAP net income in 2012 was $28.1 million, or $0.79 per diluted share, compared to $31.8 million, or $0.97 per diluted share, for the full year 2011. Adjusted EBITDA in 2012 was $44.4 million, compared to $47.1 million in 2011.
Dr. Magid Abraham, comScore's president and chief executive officer said, "We delivered a strong fourth quarter with revenue and adjusted EBITDA that underscored the health of our core businesses and momentum of our newer product offerings. Our multi-platform capabilities are invigorating Media Metrix sales activity and our validated Campaign Essentials (vCE) advertising analytics suite continues to see strong sales activity. We are particularly excited that we signed substantial deals for our website analytics offering, Digital Analytix, and for our mobile operator analytics product during the quarter. We also continued to solidify our market leadership with the addition of 45 net new customers in the fourth quarter, ending the year with a total of 2,159 customers.
"In 2013, we will continue our transformation into a real-time digital business analytics company, with a sharpened focus on our four strategic growth areas of audience, advertising, digital business and mobile operator analytics products. Our strong bookings trends, combined with our continued excellent renewal rates of over 90% on a constant dollar basis, give us confidence in our revenue outlook for 2013. We also expect to deliver increasing margin levels through continued operating efficiencies this year, reflecting our long-term commitment to profitable growth."
Financial Outlook comScore's expectations for the first quarter of 2013, which assume disposition of the company's non-health copy-testing business and elimination of its configuration management activity during the first quarter, are outlined in the table below:
GAAP Revenue
$65.8 million to $67.2 million
GAAP (loss) income before income taxes
($4.3) million to ($3.1) million
Adjusted EBITDA*
$10.0 million to $11.2 million
Estimated fully-diluted shares
37.3 million
comScore's expectations for full year 2013 are outlined in the table below:
GAAP Revenue
$273.4 million to $283.2 million
GAAP income (loss) before income taxes
($8.1) million to $1.0 million
Adjusted EBITDA*
$46.0 million to $54.0 million
Estimated fully-diluted shares
37.8 million
*Reconciliations of GAAP to non-GAAP measures are set forth in the attachment to this press release.
Due to the high variability and difficulty in predicting certain items that affect GAAP net income, such as tax rates and stock price, comScore is unable to provide a complete reconciliation of adjusted EBITDA to net income (loss) on a forward-looking basis without unreasonable efforts. However, a reconciliation of forward-looking adjusted EBITDA to GAAP income (loss) before income taxes is set forth in the attachment to this press release.
Given the recent discussion regarding our non-health copy testing and configuration manager products, we are also providing non-GAAP pro forma revenue and pro forma adjusted EBITDA guidance reconciliations that exclude this business in the attachments to this press release.
Conference Call Information Management will provide commentary on the company's results in a conference call on Thursday, February 14 at 5:00 pm ET.
The conference call and replay can be accessed by telephone and webcast as follows:
About comScore comScore, Inc. (NASDAQ: SCOR) is a global leader in digital measurement and analytics, delivering insights on web, mobile and TV consumer behavior that enable clients to maximize the value of their digital investments. For more information, please visit www.comscore.com/companyinfo.
Non-GAAP Financial Measures comScore reports all financial information required in accordance with generally accepted accounting principles (GAAP). comScore believes, however, that evaluating its ongoing operating results will be enhanced if it also discloses certain non-GAAP information because it is useful to understand comScore's performance, as it excludes non-cash and other charges that many investors believe may obscure comScore's on-going operating results.
For example, comScore uses non-GAAP net income, which excludes stock-based compensation, amortization of acquired intangible assets, impairment of intangible assets, impairment of marketable securities, costs from acquisitions, restructurings and other non-recurring items, the non-cash deferred tax provision, litigation and related settlement costs, and the purchase accounting impact on acquired deferred revenue. comScore reports non-GAAP EPS (diluted), which uses non-GAAP net income in lieu of GAAP net income in calculating earnings per share. Non-GAAP pro forma revenue excludes the estimated effects of revenue generated from non-health copy testing and configuration manager products. Adjusted pro forma EBITDA also excludes the estimated effects of operations related to non-health copy testing and configuration manager products.
In addition, comScore believes that adjusted EBITDA is a useful measure for investors to use to evaluate its operating performance. Adjusted EBITDA comprises non-GAAP net income further adjusted to exclude the cash tax provision, depreciation, interest income (expense) net, and costs not associated with ongoing operations, such as acquisition, litigation and related settlement costs. A reconciliation of comScore's GAAP results to these non-GAAP measures is included in the financial tables accompanying this release.
The company believes that adjusted EBITDA is an important indicator of the company's operational strength and the performance of its business because it provides a link between profitability and operating cash flow. Adjusted EBITDA is also widely used by investors and analysts as a supplemental measure to evaluate the overall operating performance of companies in comScore's industry. comScore's management also uses adjusted EBITDA extensively as a measure of operating performance because it does not include the impact of items not directly resulting from its core operations. Moreover, the company's management uses the measure for planning purposes, to allocate resources and to evaluate the effectiveness of the company's business strategies and management's performance.
The company believes that excluding certain costs from non-GAAP net income, non-GAAP EPS, and adjusted EBITDA provides a meaningful indication to investors of the expected on-going operating performance of the company. Specifically as it relates to acquisitions and restructurings, the exclusion of these costs reflects the expected benefits realized or to be realized upon the integration of acquired entities into comScore, and the realized benefits of the restructurings.
comScore's management also uses free cash flow as a non-GAAP measure of the company's operating cash flow less cash expenditures for capital spending as a key indicator of the company's operating cash flow performance.
Whenever comScore uses such historical non-GAAP financial measures, it provides a reconciliation of historical non-GAAP financial measures to the most closely applicable GAAP financial measure. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these historical non-GAAP financial measures to their most directly comparable GAAP financial measure included in the financial tables accompanying this release. Although the company provides a reconciliation of historical non-GAAP financial measures, due to the high variability and difficulty in predicting certain items that affect net income, such as tax rates and stock price, comScore is unable to provide a complete reconciliation of adjusted EBITDA to net income on a forward-looking basis without unreasonable efforts. However, a reconciliation of forward-looking adjusted EBITDA to GAAP income (loss) before income taxes is set forth in the attachment to this press release.
These non-GAAP financial measures do not reflect a comprehensive system of accounting, differ from GAAP measures with the same captions and may differ from non-GAAP financial measures with the same or similar captions that are used by other companies. The use of certain non-GAAP financial measures requires management to make estimates and assumptions regarding amounts of assets and liabilities and the amounts of revenue and expense during the reporting periods. Significant estimates and assumptions are inherent in the analysis and the measurement of certain elements of non-GAAP financial measures such as the impact of purchase accounting on acquired deferred revenue and the amortization of deferred contract costs associated with acquired deferred revenue. comScore bases its estimates on historical experience and assumptions that it believes are reasonable. Actual results could differ from those estimates.
Cautionary Statement This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, without limitation, comScore's expectations as to adoption of new products and services by customers; expectations about comScore's transformation to a real-time digital business analytics company; expectations regarding continued robust growth of the Media Metrix suite of products; expectations regarding continued growth of its customer base; expectations as to customer renewal rates; expectations regarding the customer reception, impact and financial benefits of certain products such as Digital Analytix and validated Campaign Essentials products; expectations regarding the possible divestiture or elimination of comScore's non-health copy testing and configuration manager products and the timing thereof, expectations and forecasts of future financial performance, including related growth rates and components thereof; and assumptions related to growth for the first quarter and full year of 2013. These statements involve risks and uncertainties that could cause our actual results to differ materially, including, but not limited to: comScore's ability to generate strong revenue and margin growth in future periods; comScore's ability to sell new or additional products and attract new customers, as well as longer sales cycles related to newer products such as validated Campaign Essentials, and Digital Analytix; comScore's ability to sell additional subscription-based products to customers; comScore's ability to sell additional products and services to existing customers; comScore's ability to divest or eliminate its non-health copy testing and configuration manager products; and the volatility of quarterly results and expectations.
For a detailed discussion of these and other risk factors, please refer to comScore's Annual Report on Form 10-K for the period ended December 31, 2011 and Quarterly Report on Form 10-Q for the period ended September 30, 2012 and from time to time other filings with the Securities and Exchange Commission (the "SEC"), which are available on the SEC's Web site (http://www.sec.gov).
Stockholders of comScore are cautioned not to place undue reliance on our forward-looking statements, which speak only as of the date such statements are made. comScore does not undertake any obligation to publicly update any forward-looking statements to reflect events, circumstances or new information after the date of this press release, or to reflect the occurrence of unanticipated events.
comScore, Inc.
Condensed Consolidated Statements of Operations
(dollars in thousands, except share and per share data)
Three Months Ended
Twelve Months Ended
December 31,
December 31,
2012
2011
2012
2011
(unaudited)
(unaudited)
*
Revenues
$ 68,354
$ 62,586
$ 255,193
$ 232,392
Cost of revenues (excludes amortization of intangible assets; shown below) (1)
23,674
19,102
86,379
75,103
Selling and marketing (1)
25,341
20,073
91,849
78,289
Research and development (1)
8,728
8,099
33,994
34,050
General and administrative (1)
9,903
11,651
38,134
48,514
Amortization of intangible assets
2,282
2,415
9,289
9,301
Impairment of intangible assets
-
-
3,349
-
Settlement of litigation
-
5,175
-
5,175
Total expenses from operations
69,928
66,515
262,994
250,432
Loss from operations
(1,574)
(3,929)
(7,801)
(18,040)
Interest and other (expense) income, net
(329)
(169)
(870)
(525)
Gain (loss) from foreign currency transactions
28
(320)
(744)
(410)
Gain on sale of marketable securities
-
-
-
211
Loss before income taxes
(1,875)
(4,418)
(9,415)
(18,764)
Income tax (provision) benefit
262
1,129
(2,374)
2,974
Net loss
$ (1,613)
$ (3,289)
$ (11,789)
$ (15,790)
Net loss per common share:
Basic
$ (0.05)
$ (0.10)
$ (0.35)
$ (0.49)
Diluted
$ (0.05)
$ (0.10)
$ (0.35)
$ (0.49)
Weighted -average number of shares used in per share calculation - common stock
Basic
33,705,129
33,159,350
33,244,798
32,289,877
Diluted
33,705,129
33,159,350
33,244,798
32,289,877
(1) Amortization of stock-based compensation is included in the line items above as follows:
Cost of revenues
$ 641
$ 394
$ 2,481
$ 1,976
Selling and marketing
$ 3,986
$ 2,202
$ 12,283
$ 8,512
Research and development
$ 525
$ 394
$ 1,919
$ 1,988
General and administrative
$ 2,151
$ 1,829
$ 8,213
$ 8,784
* Information derived from the audited Consolidated Financial Statements
comScore, Inc.
Condensed Consolidated Balance Sheets
(dollars in thousands)
December 31,
December 31,
2012
2011
Assets
(unaudited)
*
Current assets:
Cash and cash equivalents
$ 61,764
$ 38,071
Accounts receivable, net of allowances of $1,117 and $903, respectively
68,348
64,429
Prepaid expenses and other current assets
8,877
10,379
Deferred tax assets (1)
9,940
13,630
Total current assets
148,929
126,509
Property and equipment, net
31,418
28,272
Other non-current assets
414
347
Long-term deferred tax assets (1)
12,065
9,477
Intangible assets, net
40,759
53,114
Goodwill
102,900
102,338
Total assets
$ 336,485
$ 320,057
Liabilities and stockholders' equity
Current Liabilities:
Accounts payable
$ 7,229
$ 10,300
Accrued expenses
24,409
25,891
Deferred revenues
80,824
68,726
Deferred rent
807
1,013
Deferred tax liability
17
155
Capital lease obligations
8,020
6,305
Total current liabilities
121,306
112,390
Deferred rent, long-term
10,096
7,634
Deferred revenue, long-term
1,715
1,709
Deferred tax liability, long-term
130
183
Capital lease obligations, long-term
6,478
6,676
Other long-term liabilities
1,117
898
Total liabilities
140,842
129,490
Stockholders' equity:
Common stock
36
34
Additional paid-in capital
274,622
258,967
Accumulated other comprehensive income
1,825
617
Accumulated deficit
(80,840)
(69,051)
Total stockholders' equity
195,643
190,567
Total liabilities and stockholders' equity
$ 336,485
$ 320,057
* Information derived from the audited Consolidated Financial Statements
(1) Prior year amounts related to deferred tax assets have been reclassified to conform to the current period presentation.
comScore, Inc.
Condensed Consolidated Statements of Cash Flows
(dollars in thousands)
Twelve Months Ended
December 31,
2012
2011
(unaudited)
*
Operating Activities:
Net loss
$ (11,789)
$ (15,790)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation
14,159
13,352
Amortization of intangible assets
9,289
9,301
Impairment of intangible assets
3,349
-
Provisions for bad debts
1,429
220
Stock-based compensation
24,896
21,260
Amortization of deferred rent
934
(822)
Deferred tax provision (benefit)
896
(4,356)
(Gain) Loss on asset disposal
140
25
Gain on sale of marketable securities
-
(211)
Settlement of litigation
-
5,175
Changes in operating assets and liabilities:
Accounts receivable
(4,936)
(10,184)
Prepaid expenses and other current assets
1,465
(1,520)
Accounts payable, accrued expenses, and other liabilities
(7,840)
11,390
Deferred revenues
11,568
(1,610)
Deferred rent
1,312
520
Net cash provided by operating activities
44,872
26,750
Investing activities:
Purchase of property and equipment
(7,590)
(7,235)
Acquisitions, net of cash acquired
-
(5,162)
Sales and maturities of investments
-
2,591
Net cash used in investing activities
(7,590)
(9,806)
Financing activities:
Proceeds from the exercise of common stock options
238
371
Repurchase of common stock
(7,362)
(7,392)
Excess tax benefits from stock based compensation
-
177
Principal payments on capital lease obligations
(7,012)
(5,390)
Proceeds from financing arrangements
4,131
-
Principal payments on financing arrangements
(4,280)
-
Debt issuance costs
-
(69)
Net cash used in financing activities
(14,285)
(12,303)
Effect of exchange rate changes on cash
696
(306)
Net increase in cash and cash equivalents
23,693
4,335
Cash and cash equivalents at beginning of period
38,071
33,736
Cash and cash equivalents at end of period
$ 61,764
$ 38,071
* Information derived from the audited Consolidated Financial Statements
Reconciliation of Loss Before Income Taxes to non-GAAP Net Income and Adjusted EBITDA
(dollars in thousands, except per share amounts)
Three Months Ended
Twelve Months Ended
December 31,
December 31,
2012
2011
2012
2011
(unaudited)
(unaudited)
Loss before income taxes
$ (1,875)
$ (4,418)
$ (9,415)
$ (18,764)
Deferred tax benefit (provision)
755
994
(896)
4,356
Current cash tax benefit (provision)
(493)
135
(1,478)
(1,382)
Net loss
(1,613)
(3,289)
(11,789)
(15,790)
Purchase accounting impact on acquired deferred revenue
-
-
-
1,600
Amortization of intangible assets
2,282
2,415
9,289
9,301
Impairment of intangible assets
-
-
3,349
-
Stock-based compensation
7,303
4,819
24,896
21,260
Costs related to acquisitions, restructuring and other non-recurring items
640
1,071
1,437
3,405
Costs related to litigation
-
2,642
-
11,367
Non-cash settlement of litigation
-
5,175
-
5,175
Gain on sale of marketable securities
-
-
-
(211)
Deferred tax (benefit) provision
(755)
(994)
896
(4,356)
Non-GAAP net income
7,857
11,839
28,078
31,751
Current cash tax (benefit) provision
493
(135)
1,478
1,382
Depreciation
3,690
3,544
14,159
13,352
Interest expense (income), net
160
180
658
611
Adjusted EBITDA
$ 12,200
$ 15,428
$ 44,373
$ 47,096
Adjusted EBITDA margin (%)
18%
25%
17%
20%
EPS (diluted)
$ (0.05)
$ (0.10)
$ (0.35)
$ (0.49)
Non-GAAP EPS (diluted)
$ 0.22
$ 0.35
$ 0.79
$ 0.97
Weighted -average number of shares used in per share calculation - common stock
GAAP EPS (diluted)
33,705,129
33,159,350
33,244,798
32,289,877
Non-GAAP EPS (diluted)
35,743,650
33,657,234
35,388,656
32,887,323
Reconciliation of Revenue and Adjusted EBITDA to non-GAAP Pro Forma Revenue and non-GAAP Pro Forma Adjusted EBITDA(1)
(dollars in thousands)
Three Months Ended
December 31,
2012
2011
(unaudited)
As Reported
Adjustment to Exclude non-Health Copy Testing and Configuration Manager Products (3)
Adjusted
As Reported
Adjustment to Exclude non-Health Copy Testing and Configuration Manager Products (3)
Adjusted
Revenue
$ 68,354
(2,107)
$ 66,247
$ 62,586
(3,430)
$ 59,156
Adjusted EBITDA(2)
$ 12,200
(518)
$ 11,682
$ 15,428
(493)
$ 14,935
Adjusted EBITDA margin (%)
18%
25%
18%
25%
14%
25%
Twelve Months Ended
December 31,
2012
2011
(unaudited)
As Reported
Adjustment to Exclude non-Health Copy Testing and Configuration Manager Products (3)
Adjusted
As Reported
Adjustment to Exclude non-Health Copy Testing and Configuration Manager Products (3)
Adjusted
Revenue
$ 255,193
(8,328)
$ 246,865
$ 232,392
(14,348)
$ 218,044
Adjusted EBITDA(2)
$ 44,373
(1,572)
$ 42,801
$ 47,096
(3,070)
$ 44,026
Adjusted EBITDA margin (%)
17%
19%
17%
20%
21%
20%
(1) Pro forma revenue and pro forma EBITDA are adjusted to exclude the Company's non-health copy testing and configuration manager products
(2) See reconciliation of Adjusted EBITDA
(3) Adjustments to exclude non-health copy testing and configuration manager products are based on management's estimates of the revenues and results of operations of comScore's non-health copy testing and configuration manager products
Reconciliation of GAAP Operating Cash Flow to Free Cash Flow
(dollars in thousands)
Three Months Ended
Twelve Months Ended
December 31,
December 31,
2012
2011
2012
2011
(unaudited)
(unaudited)
Net cash provided by operating activities
$ 11,744
$ 7,991
$ 44,872
$ 26,750
Purchase of property and equipment
(2,630)
(1,336)
(7,590)
(7,235)
Free cash flow
$ 9,114
$ 6,655
$ 37,282
$ 19,515
Fourth Quarter 2012 Supplemental Financial and Business Information
(dollars in millions)
4Q12
4Q11
Change
Subscription Revenue
$ 58.4
$ 52.2
11.9%
Project Revenue
$ 10.0
$ 10.4
-3.8%
Existing Customer Revenue
$ 60.4
$ 55.9
8.1%
New Customer Revenue
$ 8.0
$ 6.7
19.4%
International Revenue
$ 20.5
$ 17.1
19.9%
Customer Count
2,159
1,978
9.2%
Revenue and Reconciliation of Income (Loss) Before Income Taxes to Adjusted EBITDA (Guidance)
(dollars in thousands)
Forecasted amounts for the three and twelve month periods ending March 31, 2013 and December 31, 2013 are based on the mid-points of the range of guidance provided herein
The three and twelve month periods ending March 31, 2012 and December 31, 2012 reflect reported results
Three Months Ended
Full Year
March 31,
December 31,
2013
2012
2013
2012
(unaudited)
(unaudited)
Revenue
$ 66,500
$ 62,275
$ 278,300
$ 255,193
Income (loss) before income taxes
(3,700)
$ 606
$ (3,500)
$ (9,415)
Amortization of acquired intangibles
2,300
2,320
8,100
9,289
Impairment of intangible assets
-
-
-
3,349
Stock-based compensation
6,300
5,090
26,400
24,896
Costs related to acquisitions, restructuring and other non-recurring items
1,400
-
2,900
1,437
Depreciation
4,100
3,420
15,100
14,159
Interest expense, net
200
173
1,000
658
Adjusted EBITDA
$ 10,600
$ 11,609
$ 50,000
$ 44,373
Adjusted EBITDA margin (%)
16%
19%
18%
17%
Estimated Q1 2013 and full year 2013 non-GAAP (Diluted) share count is 37.3M and 37.8M, respectively.
Reconciliation of Revenue and Adjusted EBITDA to non-GAAP Pro Forma Revenue and non-GAAP Pro Forma Adjusted EBITDA(1) (Guidance)
(dollars in thousands)
Three Months Ended
March 31,
2013
2012
(unaudited)
Expected Results (4)
Adjustment to Exclude non-Health Copy Testing and Configuration Manager Products (3)
As Forecasted
As Reported
Adjustment to Exclude non-Health Copy Testing and Configuration Manager Products (3)
Adjusted
Non-GAAP Revenue
$ 67,300
(800)
$ 66,500
$ 62,275
(2,047)
$ 60,228
Adjusted EBITDA(2)
$ 10,300
300
$ 10,600
$ 11,609
(323)
$ 11,286
Adjusted EBITDA margin (%)
15%
-38%
16%
19%
16%
19%
Twelve Months Ended
December 31,
2013
2012
(unaudited)
Expected Results (4)
Adjustment to Exclude non-Health Copy Testing and Configuration Manager Products (3)
As Forecasted
As Reported
Adjustment to Exclude non-Health Copy Testing and Configuration Manager Products (3)
Adjusted
Non-GAAP Revenue
$ 279,100
(800)
$ 278,300
$ 255,193
(8,328)
$ 246,865
Adjusted EBITDA(2)
$ 49,700
300
$ 50,000
$ 44,373
(1,572)
$ 42,801
Adjusted EBITDA margin (%)
18%
-38%
18%
17%
19%
17%
(1) Pro forma revenue and pro forma EBITDA are adjusted to exclude the Company's non-health copy testing and configuration manager products
(2) See reconciliation of Adjusted EBITDA
(3) Adjustments to exclude non-health copy testing and configuration manager products are based on management's estimates of the revenues and results of operations of comScore's non-health copy testing and configuration manager products
(4) Represents expected revenue and adjusted EBITDA prior to pro forma adjustment to exclude non-Health Copy Testing and Configuration Manager products
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SYS-CON Events announced today that OpenStack will exhibit at SYS-CON's 12th International Cloud Expo, which will take place on June 10–13, 2013, at the Javits Center in New York City, New York. OpenStack software controls large pools of compute, storage, and networking resources thro...
“Open source has always provided a number of benefits, including easing adoption costs, propagating a better understanding of the technology, and allowing for faster evolution and commercialization of products and services based on it,” noted Terry Woloszyn, Founder & CEO, Leeward Secu...
In an ideal developer/systems administrator’s world, most applications would deploy seamlessly to multiple platforms and scale elastically with minimal effort bringing the unprecedented agility of the cloud within immediate reach of developer teams and IT organizations.
OpenStack, a ...
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“Cloud has everything to do with what has happened with Big Data,” explained Jason Deck, Director of Strategic Alliances at Logicworks, in this exclusive Q&A with Cloud Expo Conference Chair Jeremy Geelan. “Big Data doesn’t exist in its easily accessible way without cloud. From reduced...
Cloudscaling, the four-year old start-up that insists it’s got the most advanced OpenStack infrastructure system, has picked up a $10 million B round from Trinity Ventures and two new investors, new strategic partners Juniper Networks and Seagate.
It reportedly got a $4 million A rou...
Cloud computing must have been brushing up on its bedside manner.
HIPAA requirements now stipulate everyone in the health-care industry must begin migrating patient records and other data to cloud computing. By 2015, all medical professionals with access to patient records must utiliz...
SYS-CON Events announced today that OpenStack will exhibit at SYS-CON's 12th International Cloud Expo, which will take place on June 10–13, 2013, at the Javits Center in New York City, New York. OpenStack software controls large pools of compute, storage, and networking resources thro...
“Open source has always provided a number of benefits, including easing adoption costs, propagating a better understanding of the technology, and allowing for faster evolution and commercialization of products and services based on it,” noted Terry Woloszyn, Founder & CEO, Leeward Secu...
In an ideal developer/systems administrator’s world, most applications would deploy seamlessly to multiple platforms and scale elastically with minimal effort bringing the unprecedented agility of the cloud within immediate reach of developer teams and IT organizations.
OpenStack, a ...
