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PGP Corporation Records Largest Single Quarter in Company’s History; Achieves 24th Successive Quarter of Year Over Year Growth New Customers and Awards Continue to Strengthen PGP Corporation’s Encryption Market Leadership and Prominence Menlo Park, CA / 31 July, 2008 – PGP Corporation, a global leader in enterprise data protection, today announced record-breaking performance for the second quarter of 2008, ending June 30, 2008. Surpassing first quarter results by 23 percent with the largest customer bookings quarter in the Company’s history, PGP Corporation completed its 24th consecutive quarter of year over year business growth and has achieved over 40 percent growth over the same quarter in 2007. The PGP® Encryption Platform business of the PGP product portfolio has grown 87 percent year over year for first half of 2008, demonstrating that corporate customers are moving to a centrally managed platform for all their encryption application needs including policy management, key management among other functions. Additionally, PGP Corporation continued its impressive global growth, specifically in the U.K., where business increased over 680 percent from 2007. Key milestones in the quarter included significant competitive customer wins, industry awards, added leadership and a relocation of PGP Corporation’s Silicon Valley headquarters to Menlo Park, CA, to support its global expansion and increasing presence in the market. “The recent consolidation in the market indicates that other security vendors are trying to address encryption needs with point solutions,” said Phillip Dunkelberger, president and CEO of PGP Corporation. “As the market grapples with endpoint products, PGP Corporation has been innovating and delivering for over three years with a holistic approach to protecting valuable data; how to encrypt it, apply policy, integrate within large enterprise ecosystems and manage the corresponding encryption keys. Without a centrally managed encryption platform that can address the multitude of encryption applications today, and scale to support future innovation, customers and their data will be at risk.” Customer Leadership Testament to the Company’s growing leadership position and prominence in the data encryption market, is the selection of the award-winning PGP® Encryption Platform applications by world leading organizations in the quarter including major global financial services provider, Barclays Bank PLC; a leading international tax, audit and advisory firm; a leading semiconductor chip manufacturer; a credit and information bureau; and a major renowned academic institution. Each of these customers has chosen the PGP® Encryption Platform as the foundation of their enterprise data protection strategy. Additionally, DIEHL Informatik GmbH, Software AG and William Hill all completed successful deployments the PGP® Encryption Platform and are using the PGP® technology to safeguard sensitive customer and corporate information; adhere to privacy and compliance regulations; and ensure protection of their company’s brand and reputation. According to the Ponemon Institute, encryption platform solutions that provide comprehensive key management and centralized policy administration are the next step in the evolution of data security. These capabilities are key strengths of the PGP® Encryption Platform and already in use today by thousands of PGP® customers. Technology Innovation Fuels Industry Recognition Known for being an industry pioneer and provider of forward-looking data protection solutions, PGP Corporation continues to be recognized for its technology and market leadership. Recent industry recognition includes being named winner of TechWorld’s 2008 “Encryption Product of the Year,” and “Best Buy” winner of SC Magazine’s Email Security Group Test for the second consecutive year. PGP Corporation also continued to strengthen its management bench. Key new executive hires included the appointment of Steven Soderberg to CIO; Masayuki Kitahara to managing director, PGP Japan K.K.; and Jim Adkins to vice president of engineering. Soderberg, Kitahara and Adkins each come to PGP Corporation with proven expertise in their areas with established industry brands and will be instrumental in driving the Company’s corporate and product strategies to take enterprise data protection to the next level. About PGP Corporation PGP Corporation is a global leader in email and data encryption software for enterprise data protection. Based on a unified key management and policy infrastructure, the PGP® Encryption Platform offers the broadest set of integrated applications for enterprise data security. PGP® platform-enabled applications allow organizations to meet current needs and expand as security requirements evolve for email, laptops, desktops, instant messaging, smartphones, network storage, file transfers, automated processes, and backups. PGP® solutions are used by more than 80,000 enterprises, businesses, and governments worldwide, including 95 percent of the Fortune® 100, 75 percent of the Fortune® Global 100, 87 percent of the German DAX Index, and 51 percent of the U.K. FTSE 100 Index. As a result, PGP Corporation has earned a global reputation for innovative, standards-based, and trusted solutions. PGP solutions help protect confidential information, secure customer data, achieve regulatory and audit compliance, and safeguard companies’ brands and reputations. Contact PGP Corporation at www.pgp.com. Media & Analyst Contacts for PGP Corporation: Tom Rice Merritt Group +1 703 856 2218 rice@merrittgrp.com U.K.: Jacqui Depares / Richard Scarlett Johnson King +44 (0) 20 7401 7968 pgpteam@johnsonking.co.uk Germany: Ingrid Daschner Johnson King +49 (0) 89 8940 8511 ingridd@johnsonking.de Legal Notice Regarding Forward-Looking Statements Some of the statements in this press release are forward-looking, including statements regarding the availability, plans, delivery, goals, development, expected features, expected benefits and competitive position of PGP products implementing or leveraging the PGP technologies. All references made to product feature enhancements, improvements in Platform support or additional functionality are subject to change at PGP Corporation’s sole discretion. All future descriptions of PGP technology and products are subject to availability only if PGP Corporation decides to build them and when PGP Corporation decides to make them commercially available. Actual results could differ materially from those expressed in any forward-looking statements. Risks and uncertainties that PGP Corporation faces that could cause results to differ materially include risks associated with any unforeseen technical difficulties or software errors related to the final development and launch of any of PGP Corporation’s products; any technological, regulatory, or standards changes in the security, encryption and authentications market which could make PGP Corporation’s products less competitive or require feature changes in these products; any slowdown in the adoption by businesses of encryption suites, secure email, Internet technologies or related standard. The forward-looking statements contained in this release are made as of the date hereof, and PGP Corporation does not assume any obligation to update such statements nor the reasons why actual results could differ materially from those projected in such statements. PGP and the PGP logo are registered trademarks of PGP Corporation. Product and brand names used in the document may be trademarks or registered trademarks of their respective owners. Any such trademarks or registered trademarks are the sole property of their respective owners. ### |
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