SYS-CON MEDIA Authors: Esmeralda Swartz, Trevor Parsons, Pat Romanski, Elizabeth White, Yeshim Deniz

News Feed Item

Procera Networks Announces First Quarter 2014 Financial Results

FREMONT, CA -- (Marketwired) -- 05/01/14 -- Procera Networks, Inc. (NASDAQ: PKT), the global Internet intelligence company, today reported financial results for its first quarter 2014 ended on March 31, 2014.

First Quarter 2014 Business and Financial Highlights

  • Reports first quarter revenue of $14.5 million, meets Procera's guidance for the quarter.

  • First quarter bookings of $10.9 million.

  • Recently awarded business at two new Tier 1 service providers in Asia and initial business is valued at approximately $3.5 million (not reflected in bookings and one of the awards was in April).

  • Added 16 new service provider customers, of which 13 are mobile operators; mobile operators contributed 49% of product revenue.

  • Received expansion orders from 12 current Tier 1 customers.

  • Selected by a Tier 1 Mobile operator in the U.S. for a field trial of our analytics and personalized services.

  • Expanded our Network Function Virtualization partnerships by joining Alcatel-Lucent's Cloudband™ Ecosystem as a go-to-market partner.

  • Procera's Network Application Visibility Library (NAVL) was selected by GFI Software™ to enhance GFI WebMonitor™, one of the industry's leading web security solutions for small to mid-size businesses.

Revenue for the first quarter of 2014 was $14.5 million, up 3% from revenue of $14.2 million in the first quarter of 2013. GAAP net loss for the first quarter of 2014 was $6.0 million, or $0.29 per diluted share, compared to GAAP net loss of $6.7 million, or $0.34 per diluted share, for the first quarter of 2013. Non-GAAP net loss for the first quarter of 2014 was $3.9 million, or $0.19 per diluted share, compared to non-GAAP net loss of $3.1 million, or $0.16 per diluted share, for the first quarter of 2013. Bookings for the first quarter of 2014 were $10.9 million.

A description of the non-GAAP financial measures and a reconciliation to comparable GAAP measures is provided in the accompanying table entitled "Use of Non-GAAP Financial Information" below.

"Procera continues a rapid pace of innovation and development in Virtualization and customer experience solutions. Our advances are attracting new trials and partnerships with industry leaders that position us well for competitive differentiation," stated James Brear, President and CEO of Procera Networks. "We will continue to invest in broadband and mobile solutions for long-term growth."

Guidance

Procera is reiterating guidance of annual revenue growth of 15% for 2014. We expect a return to non-GAAP profitability in the second half of 2014.

This guidance is an estimate only and actual performance could differ. Procera's financial results historically have been volatile, and a number of uncertainties and other factors may cause Procera's future results, performance or achievements to be materially different from prior results.

Conference Call Information

Procera Networks, Inc. is hosting a conference call for analysts and investors to discuss its first quarter 2014 results at 1:30 p.m. Pacific time (4:30 p.m. Eastern time) today, May 1, 2014. A live audio webcast of the conference call along with supplemental financial information will also be accessible from the "Investors Relations" section of Procera's website at http://proceranetworks.com/investors. A replay will be available following the call on Procera's Investor Relations website and for one week at the following numbers: (855) 859-2056 (domestic), (404) 537-3406 (international) using ID# 22247157.

Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements related to Procera Networks, Inc., including statements about Procera's expectations for 2014 revenue growth and product solution investments, a return to non-GAAP profitability in the second half of 2014, long-term growth and the market opportunity, the estimated future value of Procera's recently awarded business, as well as Procera's general outlook. Statements in this release that are not historical or current facts are forward-looking statements. All forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause Procera's actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include, without limitation, risks and uncertainties related to the acceptance and adoption of Procera's products; Procera's ability to service and upgrade its products; lengthy sales cycles and lab and field trial delays by service providers; its ability to obtain any follow-on orders from major customers; its customers canceling orders or awards; its ability to achieve revenue recognition on awarded business; its dependence on a limited product line and key customers; its dependence on key employees; its ability to compete in our industry with companies that are significantly larger and have greater resources than us; its ability to manage costs effectively; its ability to protect its intellectual property rights in a global market; its ability to manufacture product quickly enough to meet potential demand; its ability to continue to integrate Vineyard Networks and realize anticipated benefits from the acquisition; and other risks and uncertainties described more fully in Procera's documents filed with or furnished to the Securities and Exchange Commission. More information about these and other risks that may impact Procera Networks' business are described in the "Risk Factors" sections of its Form 10-K filed for the year ended December 31, 2013 and other reports filed with the SEC, which are available free of charge on the SEC's website at http://www.sec.gov and on Procera's website at http://www.proceranetworks.com. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. All forward-looking statements in this press release are based on information available to Procera as of the date hereof, and Procera undertakes no obligation to update, amend or clarify any forward-looking statement for any reason.

Use of Non-GAAP Financial Information
In addition to the financial results presented in accordance with U.S. Generally Accepted Accounting Principles (GAAP), this press release and the accompanying tables and the related earnings conference call contain certain non-GAAP financial measures. Our management regularly uses these supplemental non-GAAP financial measures internally to understand and manage our business and forecast future periods and believes that these non-GAAP financial measures, when taken together with the corresponding GAAP measures, provide incremental insight into the underlying factors and trends affecting both Procera's performance and its cash-generating potential.

Our non-GAAP financial measures include adjustments for stock-based compensation expenses; business development expenses; cost reduction efforts; and acquisition-related intangible asset and deferred compensation amortization and tax effects. We have excluded the effect of stock-based compensation; the cost of outside professional services for negotiating and performing legal, accounting and tax due diligence for potential mergers and acquisitions; expenses connected with cost reduction efforts; and acquisition-related intangible asset and deferred compensation amortization, and tax effects, from our non-GAAP gross profit, operating expenses and net income measures. Stock-based compensation, which represents the estimated fair value of stock options, restricted stock and restricted stock units granted to employees, is excluded since grant activities vary significantly from quarter to quarter in both quantity and fair value. In addition, although stock-based compensation will recur in future periods, excluding this expense allows us to better compare core operating results with those of our competitors who also generally exclude stock-based compensation from their core operating results, and who may have different granting patterns and types of equity awards and who may use different option valuation assumptions than we do. Business development expenses are necessary as part of certain growth strategies, such as through mergers and acquisitions, and will occur when such transactions are pursued. We have excluded these expenses because they can vary materially from period-to-period and transaction-to-transaction and expenses associated with these business development activities are not considered a key measure of Procera's operating performance. Cost reduction efforts occur with shifts in objectives and evolving requirements of the business and can result in fluctuating expenses connected with reducing employment in certain areas. We have excluded these expenses because they can vary significantly from period-to-period and are not considered a key measure of Procera's operating performance. Acquisition-related intangible asset and deferred compensation amortization and tax effects represent non-cash charges and benefits that result from the accounting for acquisitions. We have excluded these items because, in any period, they may not directly correlate to the underlying performance of Procera's business and these items can vary materially from period-to-period and transaction-to-transaction. In addition, we exclude these acquisition-related costs and benefits when evaluating our current operating performance.

Our non-GAAP financial measures may not reflect the full economic impact of Procera's activities. Further, these non-GAAP financial measures may be unique to Procera, as they may be different from non-GAAP financial measures used by other companies, including Procera's competitors. As such, this presentation of non-GAAP financial measures may not enhance the comparability of Procera's results to the results of other companies. Therefore, these non-GAAP financial measures are limited in their usefulness and investors are cautioned not to place undue reliance on our non-GAAP financial measures. In addition, investors are cautioned that these non-GAAP financial measures are not intended to be considered in isolation and should be read in conjunction with our consolidated financial statements prepared in accordance with GAAP.

For a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the section of the accompanying tables titled, "GAAP to Non-GAAP Reconciliations."

About Procera Networks Inc.
Procera Networks Inc. (NASDAQ: PKT) delivers Internet Intelligence solutions to service providers and network equipment manufacturers for analytics and enforcement of broadband traffic worldwide. Procera's solutions provide actionable intelligence and policy enforcement to ensure a high quality experience for any Internet and network connected devices. For more information, visit www.proceranetworks.com or follow Procera on twitter at @ProceraNetworks.



Procera Networks, Inc.
Condensed Consolidated Statements of Operations
Unaudited
(in thousands, except per share data)

                                                     Three Months Ended
                                                          March 31,
                                                 --------------------------
                                                     2014          2013
                                                 ------------  ------------
Sales:
  Product sales                                  $      9,504  $     10,411
  Support sales                                         5,037         3,760
                                                 ------------  ------------
    Total sales                                        14,541        14,171
Cost of sales:
  Product cost of sales                                 5,091         6,087
  Support cost of sales                                 1,066           715
                                                 ------------  ------------
    Total cost of sales                                 6,157         6,802
                                                 ------------  ------------

    Gross profit                                        8,384         7,369
                                                 ------------  ------------
                                                         57.7%         52.0%
Operating expenses:
  Research and development                              4,548         4,401
  Sales and marketing                                   6,877         6,621
  General and administrative                            3,110         3,637
                                                 ------------  ------------
    Total operating expenses                           14,535        14,659
                                                 ------------  ------------

Loss from operations                                   (6,151)       (7,290)
                                                 ------------  ------------

Interest and other income (expense), net                   28           (50)
                                                 ------------  ------------

  Loss before income taxes                             (6,123)       (7,340)
Income tax provision (benefit)                           (147)         (623)
                                                 ------------  ------------
  Net loss                                       $     (5,976) $     (6,717)
                                                 ============  ============

Net loss per share - basic and diluted           $      (0.29) $      (0.34)
                                                 ============  ============

Shares used in computing net loss per share:
  Basic and diluted                                    20,329        19,931



Procera Networks, Inc.
Condensed Consolidated Balance Sheets
(in thousands)

                                                   March 31,   December 31,
                                                     2014          2013
                                                 ------------  ------------
ASSETS
Current Assets:
  Cash and cash equivalents                      $     32,877  $     90,774
  Short-term investments                               73,435        15,789
  Accounts receivable, net of allowance                12,965        25,008
  Inventories, net                                     20,229        18,836
  Prepaid expenses and other                            2,086         2,128
                                                 ------------  ------------
Total current assets                                  141,592       152,535

Property and equipment, net                             7,658         7,121
Intangible assets, net                                  5,665         6,270
Goodwill                                               11,911        12,326
Deferred tax asset                                      1,210         1,101
Other non-current assets                                   91            83
                                                 ------------  ------------
Total assets                                     $    168,127  $    179,436
                                                 ============  ============

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
  Accounts payable                               $      3,651  $      7,305
  Deferred revenue                                     10,458        11,633
  Accrued liabilities                                   5,919         6,721
                                                 ------------  ------------
Total current liabilities                              20,028        25,659

Non-current liabilities:
  Deferred revenue                                      2,957         3,273
  Deferred tax liability                                1,599         1,690
  Other long-term liabilities                             136           143
                                                 ------------  ------------
Total liabilities                                      24,720        30,765

Commitments and contingencies                               -             -

Stockholders' equity:
  Common stock                                             21            21
  Additional paid-in capital                          221,145       219,763
  Accumulated other comprehensive loss                 (2,567)       (1,897)
  Accumulated deficit                                 (75,192)      (69,216)
                                                 ------------  ------------
Total stockholders' equity                            143,407       148,671
                                                 ------------  ------------

Total liabilities and stockholders' equity       $    168,127  $    179,436
                                                 ============  ============



Procera Networks, Inc.
GAAP to Non-GAAP Reconciliation; and Supplemental Financial Information
Unaudited
(in thousands, except per share data)
                                               Three Months Ended
                                     --------------------------------------
                                      March 31,   December 31,   March 31,
                                         2014         2013          2013
                                     -----------  ------------  -----------
Sales:
  Product sales                      $     9,504  $     16,191  $    10,411
  Support sales                            5,037         5,139        3,760
                                     -----------  ------------  -----------
    Total sales                           14,541        21,330       14,171
Cost of sales:
  Product cost of sales, GAAP              5,091         8,011        6,087

    Non-GAAP adjustments:
      Stock-based compensation (1)           (15)          (26)         (19)
      Amortization of intangibles
       (2)                                  (262)         (275)        (260)
      Cost reduction efforts (3)            (237)            -            -
                                     -----------  ------------  -----------
    Product cost of sales, non-GAAP        4,577         7,710        5,808

  Support cost of sales, GAAP              1,066           957          715
    Non-GAAP adjustments:
      Stock-based compensation (1)           (82)          (79)         (93)
                                     -----------  ------------  -----------
    Support cost of sales, non-GAAP          984           878          622
                                     -----------  ------------  -----------
    Total cost of sales, non-GAAP          5,561         8,588        6,430
                                     -----------  ------------  -----------
    Gross profit, non-GAAP                 8,980        12,742        7,741
                                     -----------  ------------  -----------
                                            61.8%         59.7%        54.6%
Operating expenses:
  Research and development                 4,548         5,016        4,401
    Non-GAAP adjustments:
      Stock-based compensation (1)          (388)         (292)        (500)
      Cost reduction efforts (3)            (206)            -            -
      Deferred compensation (4)              (65)         (753)        (688)
                                     -----------  ------------  -----------
    Research and development, non-
     GAAP                                  3,889         3,971        3,213


  Sales and marketing                      6,877         7,959        6,621
    Non-GAAP adjustments:
      Stock-based compensation (1)          (408)         (334)        (587)
      Amortization of intangibles
       (2)                                  (113)         (119)        (112)
      Cost reduction efforts (3)             (74)            -            -
      Deferred compensation (4)                -          (777)        (654)
                                     -----------  ------------  -----------
    Sales and marketing, non-GAAP          6,282         6,729        5,268

  General and administrative               3,110         2,537        3,637
    Non-GAAP adjustments:
      Stock-based compensation (1)          (420)         (512)        (399)
      Cost reduction efforts (3)             (27)            -            -
      Business development expenses
       (5)                                     -             -       (1,002)
                                     -----------  ------------  -----------
    General and administrative, non-
     GAAP                                  2,663         2,025        2,236
                                     -----------  ------------  -----------
    Total operating expenses, non-
     GAAP                                 12,834        12,725       10,717
                                     -----------  ------------  -----------

Income (loss) from operations, non-
 GAAP                                     (3,854)           17       (2,976)
                                     -----------  ------------  -----------

Interest and other income (expense),
 net                                          28           359          (50)
                                     -----------  ------------  -----------

  Income (loss) before income taxes,
   non-GAAP                               (3,826)          376       (3,026)

Income tax provision (benefit)              (147)          511         (623)
    Non-GAAP adjustments (6)                 179          (142)         726
                                     -----------  ------------  -----------
  Income tax provision (benefit),
   non-GAAP                                   32           369          103
                                     -----------  ------------  -----------
  Net income (loss), non-GAAP        $    (3,858) $          7  $    (3,129)
                                     ===========  ============  ===========

Net income (loss) per share -
 diluted, non-GAAP                   $     (0.19) $       0.00  $     (0.16)
                                     ===========  ============  ===========

Shares used in computing diluted net
 income (loss) per share                  20,329        20,144       19,931

Reconciliation of Net Income (Loss):
  U.S. GAAP as reported              $    (5,976) $     (3,302) $    (6,717)
    Non-GAAP adjustments:
      Stock-based compensation (1)         1,313         1,243        1,598
      Amortization of intangibles
       (2)                                   375           394          372
      Cost reduction efforts (3)             544             -            -
      Deferred compensation (4)               65         1,530        1,342
      Business development expenses
       (5)                                     -             -        1,002
      Income tax adjustment (6)             (179)          142         (726)
                                     -----------  ------------  -----------
  As Adjusted                        $    (3,858) $          7  $    (3,129)
                                     ===========  ============  ===========

Reconciliation of Diluted Net Income
 (Loss) Per Share:
  U.S. GAAP as reported              $     (0.29) $      (0.16) $     (0.34)
                                     ===========  ============  ===========
    Non-GAAP adjustments:
      Stock-based compensation (1)          0.06          0.06         0.08
      Amortization of intangibles
       (2)                                  0.02          0.02         0.02
      Cost reduction efforts (3)            0.03             -            -
      Deferred compensation (4)             0.00          0.08         0.07
      Business development expenses
       (5)                                     -             -         0.05
      Income tax adjustment (6)            (0.01)         0.01        (0.04)
                                     -----------  ------------  -----------
  As Adjusted                        $     (0.19) $       0.00  $     (0.16)
                                     ===========  ============  ===========

Shares used in computing diluted net
 income (loss) per share                  20,329        20,144       19,931

(1) Stock-based compensation expense is calculated in accordance with the
    fair value recognition provisions of ASC 718.
(2) Amortization expense associated with intangible assets acquired in the
    Vineyard Networks acquisition.
(3) Severance and other employee-related costs in connection with the
    Company's cost-reduction efforts.
(4) Deferred compensation includes amortization of amounts paid under
    retention agreements with Vineyard's three founders; these were paid
    during Q1 2014, after one year of continuous employment with the
    Company.
(5) Business development expenses include the cost of outside professional
    services for negotiating and performing legal, accounting and tax due
    diligence for potential mergers, acquisitions and other significant
    partnership arrangements.
(6) Income tax benefit associated with the following Vineyard acquisition
    related items:
    - reversal of Vineyard's pre-existing income tax valuation allowance
    upon acquisition; and
    - amortization of acquired intangible assets and book/tax differences on
    deferred revenue.

Add to Digg Bookmark with del.icio.us Add to Newsvine

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@CloudExpo Stories
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at Internet of @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, will discuss how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money! Speaker Bio: ...
Compute virtualization has been transformational, yet security policy implementation and enforcement has lagged behind in agility and automation. There are a number of key considerations when implementing policy in private and hybrid clouds. In his session at 15th Cloud Expo, Holland Barry, VP of Technology at Catbird, will discuss the impact of this new paradigm and what organizations can do today to safely move to software-defined network and compute architectures, including: How normal ope...
Samsung VP Jacopo Lenzi, who headed the company's recent SmartThings acquisition under the auspices of Samsung's Open Innovaction Center (OIC), answered a few questions we had about the deal. This interview was in conjunction with our interview with SmartThings CEO Alex Hawkinson. IoT Journal: SmartThings was developed in an open, standards-agnostic platform, and will now be part of Samsung's Open Innovation Center. Can you elaborate on your commitment to keep the platform open? Jacopo Lenzi: S...
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic • Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff hap...
SYS-CON Events announced today that SOA Software, an API management leader, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. SOA Software is a leading provider of API Management and SOA Governance products that equip business to deliver APIs and SOA together to drive their company to meet its business strategy quickly and effectively. SOA Software’s technology helps businesses to accel...
SYS-CON Events announced today that Utimaco will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Utimaco is a leading manufacturer of hardware based security solutions that provide the root of trust to keep cryptographic keys safe, secure critical digital infrastructures and protect high value data assets. Only Utimaco delivers a general-purpose hardware security module (HSM) as a customiz...
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
SYS-CON Events announced today that ElasticBox is holding a Hackathon at DevOps Summit, November 6 from 12 pm -4 pm at the Santa Clara Convention Center in Santa Clara, CA. You can enter as an individual or team of up to 10 developers. A New Star Is Born Every Month! All completed ElasticBoxes will then be sent to a judging panel - 12 winners will be featured on the ElasticBox website in 2015. All entrants will receive five full enterprise licenses for one year + ElasticBox headphones + Elasti...
Once the decision has been made to move part or all of a workload to the cloud, a methodology for selecting that workload needs to be established. How do you move to the cloud? What does the discovery, assessment and planning look like? What workloads make sense? Which cloud model makes sense for each workload? What are the considerations for how to select the right cloud model? And how does that fit in with the overall IT tranformation? In his session at 15th Cloud Expo, John Hatem, head of V...
Cloud services are the newest tool in the arsenal of IT products in the market today. These cloud services integrate process and tools. In order to use these products effectively, organizations must have a good understanding of themselves and their business requirements. In his session at 15th Cloud Expo, Brian Lewis, Principal Architect at Verizon Cloud, will outline key areas of organizational focus, and how to formalize an actionable plan when migrating applications and internal services to...
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, will discuss how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP ...
Ixia develops amazing products so its customers can connect the world. Ixia helps its customers provide an always-on user experience through fast, secure delivery of dynamic connected technologies and services. Through actionable insights that accelerate and secure application and service delivery, Ixia's customers benefit from faster time to market, optimized application performance and higher-quality deployments.
SYS-CON Events announced today that Calm.io has been named “Bronze Sponsor” of DevOps Summit Silicon Valley, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Calm.io is a cloud orchestration platform for AWS, vCenter, OpenStack, or bare metal, that runs your CL tools puppet, Chef, shell, git, Jenkins, nagios, and will soon support New Relic and Docker. It can run hosted, or on premise and provides VM automation / expiry, self-service portals,...
In her General Session at 15th Cloud Expo, Anne Plese, Senior Consultant, Cloud Product Marketing, at Verizon Enterprise, will focus on finding the right mix of renting vs. buying Oracle capacity to scale to meet business demands, and offer validated Oracle database TCO models for Oracle development and testing environments. Anne Plese is a marketing and technology enthusiast/realist with over 19+ years in high tech. At Verizon Enterprise, she focuses on driving growth for the Verizon Cloud pla...
SYS-CON Events announced today that Aria Systems, the recurring revenue expert, has been named "Bronze Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Aria Systems helps leading businesses connect their customers with the products and services they love. Industry leaders like Pitney Bowes, Experian, AAA NCNU, VMware, HootSuite and many others choose Aria to power their recurring revenue bu...
The Internet of Things (IoT) is going to require a new way of thinking and of developing software for speed, security and innovation. This requires IT leaders to balance business as usual while anticipating for the next market and technology trends. Cloud provides the right IT asset portfolio to help today’s IT leaders manage the old and prepare for the new. Today the cloud conversation is evolving from private and public to hybrid. This session will provide use cases and insights to reinforce t...
As Platform as a Service (PaaS) matures as a category, developers should have the ability to use the programming language of their choice to build applications and have access to a wide array of services. Bluemix is IBM's open cloud development platform that enables users to easily build cloud-based, creative mobile and web applications without having to spend large amounts of time and resources on configuring infrastructure and multiple software licenses. In this track, you will learn about the...
Blue Box has closed a $10 million Series B financing. The round was led by a strategic investor and included participation from prior investors including Voyager Capital and Founders Collective, as well as the Blue Box executive team. This round follows a $4.3 million Series A closed in December of 2012 and led by Voyager Capital. In May of this year, the company announced general availability of its private cloud as a service offering, Blue Box Cloud. Since that release, the company has dem...
SYS-CON Events announced today that Verizon has been named "Gold Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Verizon Enterprise Solutions creates global connections that generate growth, drive business innovation and move society forward. With industry-specific solutions and a full range of global wholesale offerings provided over the company's secure mobility, cloud, strategic network...
SimpleECM is the only platform to offer a powerful combination of enterprise content management (ECM) services, capture solutions, and third-party business services providing simplified integrations and workflow development for solution providers. SimpleECM is opening the market to businesses of all sizes by reinventing the delivery of ECM services. Our APIs make the development of ECM services simple with the use of familiar technologies for a frictionless integration directly into web applicat...