bitHeads Reports 187% Revenue Growth

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Strong performance driven by game technology outsourcing business and product development partnerships with Boston-based VoIP product companies.

bitHeads Inc., a leading software product development outsourcing company, announced today that revenue for the first half of 2007 was $6.8 million, an increase of 187% over the same period in 2006. The increase was fueled by the rapid growth of its games industry division and new software development partnerships with Boston-based communications product companies.

Highlights of the six month period ending June 2007 include:

  • The launch of a new division, called HeadGames, at the Game Developers Conference in San Francisco in May. The new division focuses on game technology outsourcing.
  • The acquisition of Ottawa and Montreal-based game studio RndLabs.
  • Several new product development partnerships with Boston-area Voice over IP (VoIP) and other communications product companies, including Brix Networks and Sonus Networks.

"Our main strategic thrusts during the first half of the year were to leverage our deep VoIP expertise with new customers in the Boston area and to significantly grow our business in the games industry," states Scott Simpson, bitHeads CEO. "We're very pleased with our strong financial performance in those two key areas. We're seeing demand for our services increase as more North American companies look for a partner like bitHeads that can provide a nearby team of specialists to accelerate core new product development while helping them build their in-house new product development capacity."

About bitHeads:
bitHeads is the software product-building partner that has helped 3Com, Adscape Media, Cryptologic, IBM, Mitel, RIM and many others get award-winning software products and games to market faster. bitHeads' unique approach provides rapid deployment product development teams, a proven methodology for building new products faster and a partnership model based a commitment to successful delivery. Millions of people around the globe play games and use software products that have been built by bitHeads. For more information, visit http://www.bitheads.com. For more information on the HeadGames division, please visit http://www.playheadgames.com.

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Scott Simpson
bitHeads
613-722-3232
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