Leading supplier of heterogeneous software grew faster than overall market in fourth quarter
MOUNTAIN VIEW, Calif. - March 14, 2005 - VERITAS Software Corporation (Nasdaq: VRTS) was recognized as the world's number one supplier of backup and archive software and file system software in the fourth quarter and full year of 2004, according to the latest IDC Worldwide Quarterly Storage Software Tracker. VERITAS Software is the overwhelming favorite when companies are selecting software to backup, archive and manage their data. This is shown in IDC market share information where VERITAS leads with 40 percent revenue share in the backup and archive storage software market, a market that VERITAS has led for nine consecutive quarters by a double-digit margin over the nearest competitor.
The report also demonstrated VERITAS' clear leadership in the file system software market, where the company commands 56 percent revenue share, compared to 2.3 percent for its nearest competitor tracked by IDC. VERITAS' continued momentum in its core data protection and storage management categories complement the adoption of its software in the emerging storage resource management (SRM) and storage replication markets.
Additionally, VERITAS' revenue growth in the overall storage software (quarter over quarter growth), backup and archiving software (year over year growth) and file system software (quarter over quarter and year over year growth) markets exceeded the overall market growth for those categories during the fourth quarter of 2004. VERITAS held the highest overall storage software market share of any non-hardware based company in the IDC study, though the specific report does not track three other emerging technology areas key to the company's utility computing strategy - application performance management, server provisioning or e-mail archiving.
"VERITAS has diligently worked to protect, manage and ensure the availability of customers' information and this track-record is rewarded with the continued loyalty of our customers, as documented by the IDC report," said Mark Bregman, chief technology officer, VERITAS Software. "We expect to see continued success in our core and evolving markets, as we bring new technologies to market and customer-focused innovation to our traditional products."
About VERITAS Software
VERITAS Software, one of the 10 largest software companies in the world, is a leading provider of software and services to enable utility computing. In a utility computing model, IT resources are aligned with business needs, and business applications are delivered with optimal performance and availability on top of shared computing infrastructure, minimizing hardware and labor costs. With 2004 revenue of $2.04 billion, VERITAS delivers products and services for data protection, storage & server management, high availability and application performance management that are used by 99 percent of the Fortune 500. More information about VERITAS Software can be found at www.veritas.com
VERITAS VISION 2005
VERITAS VISION™ 2005 is a leading IT conference that brings together thousands of IT professionals from around the world to evaluate the latest storage and server management, data protection and application service management solutions. Attendees will share and discuss best practices with peers, learn tips and tricks from the leading minds in technology and come away with a well-designed strategy to implement utility computing across their enterprises. For more information or to register for the VERITAS VISION 2005 conference April 25-28 at Moscone West, San Francisco, California, please visit: http://www.veritas.com/vision
This press release may include estimates and forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. These forward-looking statements involve a number of risks and uncertainties, including the risk that we will not gain market acceptance of our products and services, the risk that we will not be able to maintain the quality of our end-user customer and partnering relationships and the risk that we will not manage our business effectively, that could cause the actual results we achieve to differ materially from such forward-looking statements. For more information regarding potential risks, see the "Factors That May Affect Future Results" section of our most recent annual and quarterly report on file with the SEC. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date hereof.
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