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Lumeta Announces Strategic Executive Leadership Changes and Solidifies Corporate Momentum; Global Customer Adoption, Product Innovation, and Industry Recognition Drive Continued Success.


SOMERSET, N.J. -- Lumeta, the leading provider of network intelligence solutions for enterprises and government agencies, today announced the expansion of its executive management team. Software veteran David Hickey For the writer of same name, see .

David Hickey is a Gaelic football player for Dublin. Hickey has been awarded two all-stars for Dublin in 1974 and 1976. He won the All-Ireland Senior Football Championship with Dublin on three occasions in 1974, 1976 and again in 1977.
 has been appointed chief executive officer. Tom Dent will move from the role of CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  and assume the position of chairman of the board, effective immediately. These changes come at a time when the company is experiencing record growth and profitability, driven by widespread customer adoption and technology innovation. The executive leadership team expansion firmly positions Lumeta to deliver on its strategy for continued significant growth on pace with the security industry's unprecedented momentum.

David Hickey brings to Lumeta more than 20 years of technology industry experience and proven ability to maximize results, especially through periods of high growth and market transition. The executive leadership that he developed as CEO of Incurrent in·cur·rent  
adj.
Affording passage to an inflowing current.



[Latin incurr
 Solutions, Inc. and as COO at Quality Systems & Software (QSS QSS Quintessential School Systems
QSS Quality Systems and Software
QSS Working Frequency (radiotelegraphy)
QSS Quick Service System
QSS quasi-stellar source (radio source)
QSS Quick Supply Store
), Inc. helped to cultivate his strong ability to lead product development based on customer feedback and market needs. As President of QSS North American Operations North American operation Surgical oncology Radical surgery of a 'frozen pelvis', consisting of radical en bloc resection of the uterus and urinary bladder. See 'Frozen pelvis.'. Cf 'All-American' and 'South American' operations. , Hickey learned to bring operational discipline in an organization while aggressively managing top line growth. As a result he helped grow the business from $0 to approximately $30 million.

The executive team expansion comes on the heels of Lumeta's most successful year to date. The company experienced record momentum in 2005, with an 81% revenue increase from YE2004 and 113% in growth in Q405 over the previous year. During 2005 Lumeta upgraded and released new versions of its IPsonar(R) network intelligence software and grew its customer base in key vertical markets - including energy services, pharmaceuticals, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page.
 and insurance, technology and manufacturing. In addition, the company expanded its global sales presence into Europe by opening new offices in the United Kingdom and Germany.

Additional highlights of 2005 included:

--Lumeta signed 23 new customers.

--Significant number of new customer wins came out of the federal sector and the EMEA (Europe, Middle East, Africa) Refers to that region of the world. For example, one might see products packaged differently for the UK, EMEA and Asia Pacific markets.  region, garnering growth of 178% and 79%, respectively.

--Extensive innovations to the company's suite of products including features such as:
--  Automated Self-Tuning of Discovery Parameters

        --  Public Key Infrastructure Support for Distributed IPsonar
            Components

        --  Security Auditing


--Lumeta's Professional Services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products.  team saw 200% growth in annual services revenue and delivered 35 solution packages in 2005 including new solution packages for Network Risk Assessment, Asset Verification, Application Visibility, Network Connectivity and Policy Compliance.

--Numerous industry awards and accolades including Red Herring Red Herring

A preliminary registration statement that must be filed with the SEC describing a new issue of stock (IPO) and the prospects of the issuing company.

Notes:
 Top 100 Innovators and selection as one of NJBIZ's New Jersey's Finest 50 Fastest Growing Companies.

"Lumeta has reached an important stage as a growing company with a global customer base," said Lumeta chairman, Tom Dent. "This leadership expansion is a natural and logical progression in the company's growth as we keep pace with heightened market demand and remain focused on meeting our aggressive business goals. Dave has the right mix of leadership skills, enthusiasm, and business acumen to guide Lumeta's strategic direction and drive our next phase of growth."

A recent Gartner report(1) asserts that security software budget growth is higher than any other software category. Lumeta intends to capitalize on Cap´i`tal`ize on`   

v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>.
 this unprecedented market opportunity and continue its momentous growth pace by helping to drive security and vulnerability management. Despite millions of existing investments in security and management products, large enterprises still struggle to protect and manage IT based solely on assumptions of where their networks end and what's running on them. Lumeta's IPsonar completes the picture of a global IT network so companies can accurately and cost effectively prioritize security and operations management Operations management is an area of business that is concerned with the production of goods and services, and involves the responsibility of ensuring that business operations are efficient and effective.  on the most critical IT assets.

"Lumeta is poised to take off in 2006," said Lumeta's new CEO, David Hickey. "With regulatory compliance and IT operations cost pressures putting IT under the microscope, more and more organizations see IPsonar's accurate, comprehensive picture of their entire network as a must-have. I am thrilled to be on board to help realize the company's full potential."

About Lumeta Corporation

Lumeta is a leading provider of network intelligence solutions for the world's most security conscious organizations. Its patent-pending IPsonar(R) product suite brings all the unknown entities of a complex global network into clear focus and maps out their precise areas of vulnerability. With IPsonar, IT Security and Operations leaders can audit, protect, and proactively secure their network assets to ensure continuous compliance with internal and external regulations. That's why Fortune 1000 corporations, government agencies and service providers such as NASA NASA: see National Aeronautics and Space Administration.
NASA
 in full National Aeronautics and Space Administration

Independent U.S.
, Federal Aviation Administration Federal Aviation Administration (FAA), component of the U.S. Department of Transportation that sets standards for the air-worthiness of all civilian aircraft, inspects and licenses them, and regulates civilian and military air traffic through its air traffic control , McGraw-Hill, Ashland and Cingular rely on IPsonar(R) to minimize risk and derive maximum value from their existing security and network management products. For more information, visit the Lumeta Web site at www.lumeta.com.

Note: Lumeta, the Lumeta logo, IPsonar and the IPsonar logo are trademarks and service marks of the Lumeta Corporation. Other product and company names appearing in this document may be trademarks of their respective owners.

(1)Gartner, March 9, 2005, "What Your Organization Should Be Spending for Information Security", Vic Wheatman, Brian Smith Brian Smith is the name of:
  • Brian Smith (photographer), Pulitzer Prize-winning sports and celebrity photographer from Miami Beach, Florida.
  • Brian Smith (ice hockey), a former ice hockey player and Canadian sportscaster.
, Norma Schroder, John Pescatore, Mark Nicollett, Ant Allan and Rich Mogull
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Article Type:Company Profile
Date:Mar 6, 2006
Words:838
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