In Q308, Arena continued to attract new customers from the electronics, medical device and clean technology markets, where efficiency and accuracy are critical success factors. Before adopting Arena PLM, most of these companies relied on Microsoft Excel to manage critical product information, but found that tool to be a liability as their businesses became more complex.
Existing customers, who've used Arena PLM to increase accuracy, boost productivity, and improve their competitive advantage, not only renewed their Arena PLM subscriptions during the quarter, but also increased their investments at an unprecedented rate, demonstrating that in a down economy, the support Arena PLM provides in helping companies succeed and grow is more important than ever.
During the third quarter, the adoption of Arena PLM among clean technology companies looking to accelerate product development to meet growing demand was notable. Among these companies are Kinetics, which has provided process and mechanical solutions to the solar energy market for more than 10 years; Grid Net, a smart metering company that could help modernize the nation's digital energy grid and contribute to trimming the country's power usage by 10 percent, reduce greenhouse gas emissions by 25 percent and eliminate the need for $80 billion in new power plants; Coulomb Technologies, which is responsible for building a curbside network of charging stations for electric cars; and the Grand Cayman-based d. Light, which provides innovative solar-powered lighting solutions to regions without electricity.
In addition, there was continued demand from medical device manufacturers, such as Alpha Med-Surge, Invivo Diagnostic, Avedro and Intrapace. For each, using Arena PLM to manage product data for compliance is critical for maintaining their competitive position.
"We've seen so many growing companies make a quick and successful move from Microsoft Excel to Arena PLM. Instead of the chaos that comes from managing product information in complicated spreadsheets, Arena offers a collaborative environment for centralizing, controlling and analyzing this complex and constantly changing data," said Craig Livingston, chief executive officer of Arena Solutions.
Debunking the myth that PLM implementations are lengthy and arduous, approximately 60 percent of new customers that purchased Arena PLM during the third quarter completed the entire implementation process within that 12 week period.
Other significant highlights of Q3 2008:
-- Arena Solutions was included among the top 200 private technology companies of 2008 by Nollenberger Capital Partners Investment Banking Team. Arena was selected for its compelling solutions, broad market, solid management, demonstrated results and defensible intellectual property. -- Arena surpassed its 99.5 percent service level agreement for the tenth consecutive quarter, with 100 percent scheduled uptime in Q3 2008 and a continued commitment to building and delivering the most secure, reliable PLM solution available.
About Arena Solutions
Arena Solutions is the leading provider of on-demand (SaaS) product lifecycle management solutions for manufacturing companies of all sizes. As the only true on-demand, secure Internet-based PLM service, Arena PLM provides a superior alternative to complicated, lengthy and expensive traditional PLM software deployments. Through its award-winning service, Arena enables product manufacturers and their global supply chains to streamline outsourcing, improve operational efficiencies, collaboration and speed time-to-market. Arena PLM has been adopted by more than 15,000 users across companies at all stages of development, including industry leaders Foundry Networks, Color Kinetics, Intuit, Sierra Wireless, Align Technology and more.
Arena Solutions' market-changing approach to PLM has received significant recognition in the industry, including Manufacturing Business Technology's Top 40 Emerging Vendors, the Supply & Demand Chain Executive 100, Industry Week's "Technology of the Year - Notable Innovators" and Start-IT Magazine's "Hottest" Companies and Top 50 Manufacturing Technologies.
Founded in February 2000, Arena Solutions is headquartered in Foster City, California. For more information, please visit the company's website at www.arenasolutions.com.
Arena PLM is a trademark of Arena Solutions, Inc. Other product and company names are the property of their respective holders.
Contact: Cindi Goodsell Arena Solutions Email Contact 510.479.9015