Panasas Inc. has completed its most successful half-year in company history. Revenues grew more than 500 percent between the first half of 2004 and the first half of 2005, fueled by wins across key vertical markets, including government, oil and gas, life sciences, digital media and computer-aided engineering. The company is also driving revenue growth from its installed base, with substantial repeat business.
Panasas is helping drive Linux cluster computing into the mainstream with scalable, simple-to-implement network storage solutions. More and more companies are using high performance computing to enable breakthroughs in genomic research, oil exploration, digital animation and computer-aided engineering.
The success in the first half of 2005 is exemplified by:
- Panasas added customers and extended existing relationships at organizations such as Geophysical Development Corp., the California Institute for Quantitative Biomedical Research, Stanford University's Institute for Computational and Mathematical Engineering, Brookhaven National Laboratory and Lawrence Livermore National Laboratory, which includes support for Thunder, the No. 7 supercomputer in the world.
- New and expanded partnerships led by the announcement of a worldwide distribution agreement with Verari Systems Inc. Verari will co-brand and sell Panasas' ActiveScale Storage Cluster in conjunction with the company's platform-independent blade computing systems. Panasas also further strengthened its relationship with AMD, announcing ongoing support of the AMD64 platform and its new Dual-Core AMD Opteron processors.
- Executing on its global expansion strategy, the company achieved wins in North America, Europe, Middle East and Africa, and Asia Pacific.
According to a May 2005 report by IDC, total HPC revenue will grow to $10.1 billion by 2009. The report noted clusters have gained significant momentum, and IDC expects clusters to continue to capture share in the HPC market throughout the forecast period. Clusters currently account for about half of all revenue in the HPC market.
The report also notes that national and global issues, such as national security and homeland defense, and increasing costs of energy, will drive growth in the overall market. Clusters are sold into all segments of the HPC market, with applications ranging from support of general engineering workload in throughput environments, to high-end capability applications in such areas as seismic analysis and nuclear physics.
