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The privately held business-intelligence vendor reported record revenue from new licenses during its second quarter.
Sales are up for business-intelligence vendor Information Builders Inc. The privately held company, with 29 years under its belt and annual sales of about $300 million, on Wednesday reported record revenue for new licenses for its second quarter.
The company said enterprise business-intelligence-product revenue increased by 15% and integration-product revenue jumped by 38%. Information Builders said it signed multiple $10 million deals and more than a dozen $1 million-plus deals. Total revenue for the quarter grew by 7%.
In a statement, CEO Gerald Cohen attributed the growth in part to Information Builders' wholly owned subsidiary iWay Software, which sells integration tools designed to simplify access to the data found in enterprise and legacy apps. He also said business-intelligence tools are gaining traction. "We believe that more and more large companies will deploy operational systems to broadly distribute information that employees need to run their business," Cohen said.
Information Builders' business has been on the upswing. In an interview early this year with InformationWeek, Cohen said the company closed 14 deals worth more than $1 million each in the fourth quarter of 2003. At the time, he said, the healthy contracts were a sign companies were starting to spend more money on IT.
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