Calypso Technology Inc, a global application software provider of an integrated trading application suite to the capital markets industry, today announced that the firm achieved record growth in 2008. This is the eighth consecutive year of double-digit growth for the firm, with more than 30% revenue increase over the same calendar year in 2007. Since 2002, the company has achieved 59% average annual revenue growth accompanied by consistently strong double digit margins.
Notably, the firm enjoyed a strong year-end. In the fourth quarter alone, more than a dozen financial institutions across the EMEA, APAC, and Americas regions went live on the Calypso platform, either with new implementations or upgrades. These include:
- ASB Bank
- Fortis Bank
- Investec Bank
- Nordea Bank
- Rand Merchant Bank
- Standard Bank of South Africa
- Société Générale NY
- United Overseas Bank
- VTB Capital
- Westpac Banking Corporation
To reduce implementation time and cost, Calypso has continued its investment in Calypso Fast-Track. This market best practice implementation of Calypso with its related tools has reduced customer implementation times and serves as a valuable training tool. Another substantial benefit for customers has been the increased availability of Calypso integration professionals resulting from the firm's emphasis on partnerships with leading consulting firms such as IBM, Accenture and Bearing Point.
New customers added in 2008 include Nordea, DeSari Capital, Marshall and Ilsley, VTB Capital and Pamplona Capital Management. Overall, Calypso added 15 new customers, and renewed and extended licenses with more than 20 existing customers. The strong customer commitment to the product was reinforced through record attendance levels at multiple customer events held in New York, San Francisco, London, Sydney and Tokyo.
Calypso continues to dedicate substantial resources to customer support initiatives and product innovation; to this end, headcount increased by 16%. The firm's global expansion included the opening of its Copenhagen office, further establishing Calypso's leadership in the Nordic region. The firm now has 11 offices around the world in key financial centers, including San Francisco, London, New York, Paris, Frankfurt, Tokyo, Sydney, Johannesburg, Singapore and Mumbai. In addition, special focus is being given to the Greater China region with the creation of a Hong Kong based sales presence in the latter half of the year.
Charles Marston, CEO of Calypso, says, "In what was a challenging year for the financial industry, Calypso was able to make 2008 yet another successful year for the firm. Important achievements included the launch of Calypso SaaS, the increasing success of the Calypso Fast-Track implementation tool, and our expanding buy-side customer base. Our growth stems from our dedication to helping our customers succeed by providing them with an industry-leading solution. We look forward to continued successful partnerships with our customers in 2009."
"Current economic conditions aside, Calypso, with a diversified customer base and its strong balance sheet characterized by robust capital reserves and the absence of debt, is well positioned to continue its growth into 2010 and beyond. Moreover, its product suite is ideally suited to address the prevailing liquidity, risk management and technology consolidation issues facing the financial sector today," states Frank Fanzilli, Jr., Calypso lead independent Board Director.