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iTKO, the leading provider of virtualization, test, and validation solutions for modern and cloud-based applications, today announced record results for 2009 encompassing accelerated revenue growth, customer expansion, and customer wins with strategic partners. iTKO’s success continues to grow by addressing strategic quality and agility challenges for Global 2000 enterprise customers. This includes the ability to eliminate critical development and delivery constraints using virtual service environments, and deliver comprehensive validation capabilities across complex, distributed applications and cloud-based architectures with full transparency.

By addressing these enterprise needs, iTKO has delivered a strong quarterly finish for the calendar year representing 103% year-over-year revenue growth. The company added a large number of Global 2000 enterprise customers in 2009 and saw a sharp increase in the number of seven-figure enterprise license deals.

“Enterprise IT customers today continue to struggle with difficult cost containment decisions, and approval for new investments must be supported by strong evidence that they will deliver significant business value,” said Thomas Murphy, Research Director, Gartner. “Organizations are continuing to invest in disruptive technologies that meet this criteria, including virtualization, cloud computing, Web 2.0 technologies, and other solutions that provide near immediate ROI while also improving long-term productivity and risk mitigation.”

“We are very pleased that IT leaders across many industries have repeatedly recognized the value that iTKO’s LISA provides to their initiatives and invested accordingly,” said Shridhar Mittal, CEO of iTKO. “Our ability to substantially extend our growth with both new and existing customers speaks volumes on LISA’s ability to address strategic development and delivery challenges. After experiencing initial success, many customers return to extend their licenses, and this pattern is accelerating. Our upcoming LISA 5.0 product release will continue to raise the bar by enabling complex enterprise and cloud-based applications to be delivered faster, with high quality, and at lower costs. We’re confident that LISA’s ability to consistently deliver these benefits to our customers will drive even greater success for iTKO in 2010.”

Growing Enterprise Customer Base

iTKO acquired marquee customers in 2009 including industry leaders such as CVS, Verizon, Fireman’s Fund Insurance Company, BB&T, Oracle, Lowes, U.S. Business Transformation Agency, Rogers Communications, Telus, Scripps Networks, Cox Communications, and others. iTKO also saw a large number of repeat customers who purchased additional licenses including Kaiser Permanente, JPMorgan Chase, American Airlines, Defense Information Systems Agency, KPN, Bank of America, Time Warner, Northrup Grumman, Southwest Airlines, Federal Aviation Administration, Kroger, and others.

Expanded Partnerships with Market Leaders

iTKO’s growing global presence and customer expansion is due in part to increasing traction with top-tier ISV and Global System Integration partners in 2009. iTKO has developed deeper relationships with market leading ISVs including HP, IBM, and Oracle. This included an agreement in June 2009 for HP to resell iTKO’s LISA Virtualize product as part of HP’s Quality and Performance Management solutions. iTKO also embedded its cloud-based application virtualization capabilities in a joint offering with IBM Global Services and successfully took the solution to market into IBM’s enterprise accounts in October 2009.

In 2009, iTKO greatly expanded its relationships with Global Systems Integrators including a range of reseller agreements and strategic partnerships with Accenture, IBM Global Services, Infosys, Tata Consultancy Services, CSC, Cognizant, and others. These relationships have encompassed a wide range of targeted sales and marketing efforts, including an ongoing iTKO webinar series for Development and Quality Assurance professionals, along with deep LISA implementation and training support for enterprise customers.

Product Innovation

In 2009, iTKO extended their product leadership position with two significant LISA product releases. Improvements included faster and more accurate creation of virtual service environments and the ability to virtualize an even broader array of IT assets. iTKO will continue to extend their product innovation leadership with a major LISA 5.0 product release in early 2010.

“The enterprise software industry experienced flat or declining revenue in 2009. Yet despite these industry conditions, iTKO has fueled continued growth due to a combination of our successful technology investments, strategic partnerships, and our valued enterprise customer base,” said John Michelsen, Chief Scientist at iTKO. “iTKO clearly understands the evolving needs of modern application quality and cloud computing for enterprise customers. Years ago we recognized the need for new solutions to address these emerging challenges, and have successfully developed and marketed solutions that accurately target where the IT industry is headed today.”

About iTKO

iTKO helps customers optimize their software development and delivery lifecycle for greater quality and agility in an environment of constant change. iTKO’s award winning LISA™ product suite can dramatically lower quality assurance costs, shorten release cycles, reduce risks, and eliminate critical development and testing constraints by virtualizing dependent IT resources to provide on-demand accessibility and capacity for teams across the software lifecycle.

LISA virtualization, test, and validation solutions are optimized for distributed, modern applications that leverage SOA, BPM, cloud computing, integration suites, and ESBs. iTKO customers include industry leaders such as eBay, American Airlines, Time Warner, KPN, Level3, Bank of America and government agencies including the FAA and U.S. Department of Defense. For more information, visit http://www.itko.com or check out our blog at http://blog.itko.com.

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