Matrix42 Reports 23% in New License Revenue and 93% Growth in Cloud & Subscription Business for Second Fiscal Quarter
Company Focused on Growth and Investment in North America, Spurred by Acquisition of FireScope, a US-Based Asset Intelligence Company
FRANKFURT, Germay and HUNTINGTON BEACH, Calif., Sept. 22, 2020 /PRNewswire-PRWeb/ -- Matrix42, a leading provider of digital workspace management solutions, today announced preliminary business results and growth trends for the second quarter of Fiscal Year 2020.
For quarter ended June 30, 2020, Matrix42 posted a 23 percent increase in new license revenue compared to the previous year, despite the COVID-19 crisis market disruption. The company acquired 142 new customers and expanded its reseller and solution provider network to 85 companies across the globe.
"The COVID-19 pandemic has accelerated the shift towards digital workspaces," said Oliver Bendig, CEO at Matrix42."Our customers are leveraging our innovative workspace management solutions to help guide their employees through this crisis and ensure their staff remains secure and productive."
Strong Growth in Cloud and Subscription Business
Matrix42's cloud and subscription business has shown strong growth in the second quarter, with a 93 percent increase in revenue as compared to the same period in the previous year. Bendig continued, "Cloud will play a critical role in the future of the workspace management market and in the Matrix42 product portfolio. Matrix42 set the course for further growing its cloud business and expansion into North America with the acquisition of asset intelligence provider FireScope in July. The product roadmap has all Matrix42 products available as cloud services in Microsoft Azure by the fourth quarter of this year.
"The Matrix42 solution set and our 'Cloud and Subscription First' strategy is resonating in the US market as customers look for more economical, agile, secure and integrated IT Service Management, Endpoint Management, and Asset Intelligence solutions during the COVID-19 pandemic," said Steven Cotton, Vice President and General Manager of the Americas, Matrix42. "The Matrix42 ITSM solution is helping our clients reduce ITSM annual subscription costs by 50% or more, without sacrificing features or function."
About Matrix42
Matrix42 supports organizations in digitalizing their employees' work environments and making them more secure. Our digital workspace experience software manages devices, applications, processes, and services in a simple, secure, and compliant manner. This innovative software seamlessly integrates physical, virtual, mobile, and cloud-based work environments into existing infrastructures.
Matrix42 AG is headquartered in Frankfurt am Main, Germany, and sells and implements software solutions worldwide with the help of local and global partners. For further information, visit https://www.matrix42.com/en/
About FireScope
FireScope, a Matrix42 company, is an innovative cloud-based asset intelligence and IT service management solution provider. FireScope's Secure Discovery and Dependency Mapping (SDDM) and Service Performance and Analytics solutions help companies discover the technology assets touching their network – both owned and unowned - and maps their inter-dependencies to provide a clear understanding of the business impact of those assets. FireScope's tools provide persistent observation, dependency mapping and performance monitoring to uncover the true business intelligence of your assets, services and cloud. For further information, visit http://www.firescope.com
SOURCE Matrix42 FireScope
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