Autonomy revenue up 50% on last year

Automony, the UK's largest software house, has reported first quarter 2010 revenues of $194.2m, up 50% from Q1 2009.

Mike Lynch, group CEO at Autonomy,...

Automony, the UK's largest software house, has reported first quarter 2010 revenues of $194.2m, up 50% from Q1 2009.

Mike Lynch, group CEO at Autonomy, said, "We entered 2010 with strong momentum after significant market share gains in 2009, aided by strong product positioning and increased marketing expenditure at a time when other companies were scaling back. This strength is now reinforced with discretionary spend being made available as companies look to invest for growth."

During the quarter, the company won contracts with AT&T, Genentech, Lloyds Bank, American Automobile Association, Carnival Cruises, Citi, Kraft, O2, Samsung, Tesco, Visa, Bank of America and Bayer. Autonomy said it also won new and repeat licences with government, defence and intelligence agencies around the globe, including deals with the US, UK and European Commission.

Auotonomy supplies enterprise search engine technology to large businesses and governments. The company is facing stiff competition with Google now selling its own search appliance. Companies such as BG Group have chosen the Google product due to the greater flexibility of Google's licensing.

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