Varicent - Press Releases

Stay up-to-date about what we're doing and where we are with Varicent news and event information

(Toronto, ON) – Varicent Software Incorporated, a market leader in incentive and sales performance management (SPM) solutions, today announced another breakthrough quarter, with record results for Q1 2006. The company continued its accelerated growth and achieved a significant increase in licensing revenue of its flagship product, Varicent Sales Performance Management (SPM).

In Q1 2006, the Company doubled new customer wins over last year's first quarter, and a 42% increase from the last quarter in 2005. Average deal size during the quarter was also considerably higher than the historical average.

"We are very pleased with our market traction, growth and execution in the past quarter," said Varicent's Chief Executive Officer, Dan Shimmerman. "We signed a record number of large customers in our target industries, attracted new partners and resellers, and continued to invest in people and technology to extend our competitive lead."

In the first quarter, new customers included Greater Bay Bank (NASDAQ: GBBK) in San Francisco, CA; Tweeter Home Entertainment Group (NASDAQ:TWTR) in Boston, MA; Streling Testing Systems, in New York City, NY; Omneon Video Networks in Sunnyvale, CA; OneConnect Communications in Toronto, ON, as well as a leading international consulting firm, a national real estate agency and a network software vendor. Varicent also signed many new partners and value-added resellers, and entered into a major strategic partnership with Applix Inc., a leading provider of Business Performance Management (BPM) and Business Intelligence (BI) solutions.

"We have invested considerably in Varicent this quarter, and have developed significant market momentum," said Dan Shimmerman. "We have a lot to look forward to in 2006 and beyond, including continued expansion into new industries and new markets."

About Varicent

Varicent Software Incorporated is a leading provider of Sales Performance Management (SPM) solutions.  Varicent’s flagship product, Varicent SPM, enables organizations across multiple industries to effectively design and mange incentive pay calculations across the company.  Varicent SPM is a web-based solution built on Microsoft’s .NET framework, and its patented rules-based calculation engine can manage the most complex compensation plans. Varicent’s homepage is http://www.varicent.com.