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RealPage, Inc. (NASDAQ:RP), a leading provider of on-demand software and
software-enabled services to the rental housing industry, today
announced financial results for its third quarter ended September 30,
2012.
“Third quarter financial results were solid,” said Steve Winn, Chairman
and CEO of RealPage. “Our core business metrics of organic on demand
revenue, Adjusted EBITDA and annual customer value continue to grow in
line with our long-term operating model. All product families reported
growth with aggregate on demand revenue up over 25% for the quarter.”
Third Quarter 2012 Financial Highlights
Non-GAAP total revenue was $83.2 million, an increase of 22.5%
year-over-year;
Non-GAAP on demand revenue was $79.0 million, an increase of 25.3%
year-over-year;
Adjusted EBITDA was $18.8 million, an increase of 25.0% year-over-year;
Non-GAAP net income was $8.9 million, or $0.12 per diluted share, a
year-over-year increase of 27.5% and 20.0%, respectively;
GAAP net income was $2.1 million, or $0.03 per diluted share, compared
to a GAAP net loss of $1.1 million, or $0.02 per diluted share, in the
prior year quarter; and
Excluding the cash impact from Yardi related litigation, net cash
provided by operating activities was $16.4 million, an increase of
45.4% year-over-year.
Financial Outlook
RealPage management expects to achieve the following results during its
fourth quarter ended December 31, 2012:
Non-GAAP total revenue is expected to be in the range of $85.5 million
to $87.5 million;
Adjusted EBITDA is expected to be in the range of $20.0 million to
$21.5 million;
Non-GAAP net income is expected to be in the range of $9.7 million to
$10.5 million, or $0.13 to $0.14 per diluted share;
Non-GAAP tax rate of approximately 40.0%; and
Weighted average shares outstanding of approximately 74.8 million.
RealPage management expects to achieve the following results during its
calendar year ended December 31, 2012:
Non-GAAP total revenue is expected to be in the range of $322.0
million to $324.0 million;
Adjusted EBITDA is expected to be in the range of $72.5 million to
$74.0 million;
Non-GAAP net income is expected to be in the range of $34.4 million to
$35.2 million, or $0.47 to $0.48 per diluted share;
Non-GAAP tax rate of approximately 40.0%; and
Full year weighted average shares outstanding of approximately 73.9
million.
Please note that the above statements are forward looking and that
Non-GAAP total revenue includes an adjustment for the effect of deferred
revenue from acquired companies that is required to be written down for
GAAP purposes under purchase accounting rules. In addition, the above
statements also include the impact of acquisitions and exclude any costs
resulting from the Yardi litigation (including settlement costs and
related insurance litigation). Actual results may differ materially.
Please reference the information under the caption "Non-GAAP Financial
Measures" as part of this press release.
Conference Call and Webcast
The Company will host a conference call today at 5:00 p.m. EST to
discuss its financial results. Participants are encouraged to listen to
the presentation via a live web broadcast at www.realpage.com
on the Investor Relations section. In addition, a live dial-in is
available domestically at 866-743-9666 and internationally at
760-298-5103. A replay will be available at 855-859-2056 or
404-537-3406, passcode 60388521, until November 17, 2012.
About RealPage
Located in Carrollton, Texas, a suburb of Dallas, RealPage provides on
demand (also referred to as "Software-as-a-Service" or "SaaS") products
and services to apartment communities and single family rentals across
the United States. Its on demand product lines include OneSite® property
management systems that automate the leasing, renting, management, and
accounting of conventional, affordable, tax credit, student living,
senior living and military housing properties; LeaseStar™ multichannel
managed marketing that enables owners to originate, syndicate, manage
and capture leads more effectively and at less overall cost; YieldStar®
asset optimization systems that enable owners and managers to optimize
rents to achieve the overall highest yield, or combination of rent and
occupancy, at each property; Velocity™ billing and utility management
services that increase collections and reduce delinquencies;
LeasingDesk® risk mitigation systems that are designed to reduce a
community's exposure to risk and liability; OpsTechnology® spend
management systems that help owners manage and control operating
expenses; and Compliance Depot™ vendor management and qualification
services to assist a community in managing its compliance vendor
program. Supporting this family of SaaS products is a suite of shared
cloud services including electronic payments, document management,
decision support and learning. Through its Propertyware subsidiary,
RealPage also provides software and services to single-family rentals
and low density, centrally-managed multifamily housing. For more
information, call 1-87-REALPAGE or visit www.realpage.com.
This press release contains "forward-looking" statements relating to
RealPage, Inc.'s expected, possible or assumed future results of
operations, growth, expenditures, tax rates, outstanding shares and
potential benefits of completed acquisitions. These forward-looking
statements are based on management's beliefs and assumptions and on
information currently available to management. Forward-looking
statements include all statements that are not historical facts and may
be identified by terms such as “expects,” “believes,” “plans,” or
similar expressions and the negatives of those terms. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results, performance or achievements to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements.
Factors that could cause or contribute to such differences include, but
are not limited to, the following: (a) the possibility that general
economic conditions or uncertainty cause information technology
spending, particularly in the rental housing industry, to be reduced or
purchasing decisions to be delayed; (b) an increase in customer
cancellations; (c) the inability to increase sales to existing customers
and to attract new customers; (d) RealPage, Inc.'s failure to integrate
acquired businesses and any future acquisitions successfully; (e) the
timing and success of new product introductions by RealPage, Inc. or its
competitors; (f) changes in RealPage, Inc.'s pricing policies or those
of its competitors; (g) litigation; (h) inability to complete the
integration of our LeaseStar products and deliver enhanced functionality
on a timely basis; or (i) the discovery of facts and circumstances
currently not available to management; and such other risks and
uncertainties described more fully in documents filed with or furnished
to the Securities and Exchange Commission ("SEC") by RealPage, including
its Quarterly Report on Form 10-Q previously filed with the SEC on
August 7, 2012, its Registration Statement on Form S-3ASR and related
prospectus supplement previously filed with the SEC on September 13,
2012. All information provided in this release is as of the date hereof
and RealPage undertakes no duty to update this information except as
required by law.
Non-GAAP Financial Measures
This press release contains non-GAAP financial measures. These measures
differ from GAAP in that they exclude amortization of intangible assets,
stock-based compensation expenses, any impact related to the Yardi
litigation (including settlement costs and related insurance
litigation), acquisition-related deferred revenue adjustments, and
acquisition related expenses (including any purchase accounting
adjustments). Reconciliation tables comparing GAAP financial measures to
non-GAAP financial measures are included at the end of this release.
We define Adjusted EBITDA as net (loss) income plus acquisition-related
deferred revenue adjustment, depreciation and asset impairment,
amortization of intangible assets, net interest expense, income tax
expense (benefit), stock-based compensation expense, any impact related
to Yardi litigation (including settlement costs and related insurance
litigation), and acquisition-related expense.
We believe that the use of Adjusted EBITDA is useful to investors and
other users of our financial statements in evaluating our operating
performance because it provides them with an additional tool to compare
business performance across companies and across periods. We believe
that:
Adjusted EBITDA provides investors and other users of our financial
information consistency and comparability with our past financial
performance, facilitates period-to-period comparisons of operations
and facilitates comparisons with our peer companies, many of which use
similar non-GAAP financial measures to supplement their GAAP results;
and
it is useful to exclude certain non-cash charges, such as depreciation
and asset impairment, amortization of intangible assets and
stock-based compensation and non-core operational charges, such as
acquisition-related expense and any impact related to the Yardi
litigation (including settlement costs and related insurance
litigation), from Adjusted EBITDA because the amount of such expenses
in any specific period may not directly correlate to the underlying
performance of our business operations and these expenses can vary
significantly between periods as a result of new acquisitions, full
amortization of previously acquired tangible and intangible assets or
the timing of new stock-based awards, as the case may be.
We use Adjusted EBITDA in conjunction with traditional GAAP operating
performance measures as part of our overall assessment of our
performance, for planning purposes, including the preparation of our
annual operating budget, to evaluate the effectiveness of our business
strategies and to communicate with our board of directors concerning our
financial performance.
We do not place undue reliance on Adjusted EBITDA as our only measure of
operating performance. Adjusted EBITDA should not be considered as a
substitute for other measures of liquidity or financial performance
reported in accordance with GAAP. There are limitations to using
non-GAAP financial measures, including that other companies may
calculate these measures differently than we do, that they do not
reflect our capital expenditures or future requirements for capital
expenditures and that they do not reflect changes in, or cash
requirements for, our working capital. We compensate for the inherent
limitations associated with using Adjusted EBITDA measures through
disclosure of these limitations, presentation of our financial
statements in accordance with GAAP and reconciliation of Adjusted EBITDA
to the most directly comparable GAAP measure, net (loss) income.
Condensed Consolidated Statements of Operations
For the Three and Nine Months Ended September 30, 2012 and 2011
(unaudited, in thousands, except per share data)
Three Months Ended
Nine Months Ended
September 30,
September 30,
2012
2011
2012
2011
Revenue:
On demand
$
78,973
$
62,765
$
224,629
$
172,741
On premise
1,226
1,772
3,903
5,045
Professional and other
3,040
3,118
7,916
9,052
Total revenue
83,239
67,655
236,448
186,838
Cost of revenue(1)
32,897
27,585
95,358
78,078
Gross profit
50,342
40,070
141,090
108,760
Operating expense:
Product development(1)
12,274
11,230
35,325
32,083
Sales and marketing(1)
21,792
17,688
57,186
44,992
General and administrative(1)
12,545
11,840
44,794
31,190
Total operating expense
46,611
40,758
137,305
108,265
Operating income (loss)
3,731
(688
)
3,785
495
Interest expense and other, net
(407
)
(684
)
(1,620
)
(2,582
)
Income (loss) before income taxes
3,324
(1,372
)
2,165
(2,087
)
Income tax expense (benefit)
1,211
(266
)
704
(615
)
Net income (loss)
$
2,113
$
(1,106
)
$
1,461
$
(1,472
)
Net income (loss) per share
Basic
$
0.03
$
(0.02
)
$
0.02
$
(0.02
)
Diluted
$
0.03
$
(0.02
)
$
0.02
$
(0.02
)
Weighted average shares used in
computing net income (loss) per share
Basic
72,178
68,792
71,293
68,096
Diluted
74,282
68,792
73,689
68,096
(1) Includes stock-based compensation
Three Months Ended
Nine Months Ended
expense as follows:
September 30,
September 30,
2012
2011
2012
2011
Cost of revenue
$
649
$
459
$
2,088
$
1,069
Product development
1,116
1,258
3,180
3,343
Sales and marketing
2,653
3,433
4,422
8,793
General and administrative
1,595
1,258
4,627
3,025
$
6,013
$
6,408
$
14,317
$
16,230
Condensed Consolidated Balance Sheets
At September 30, 2012 and December 31, 2011
(unaudited, in thousands except share data)
September 30,
December 31,
2012
2011
Assets
Current assets:
Cash and cash equivalents
$
36,220
$
51,273
Restricted cash
22,443
19,098
Accounts receivable, less allowance for doubtful accounts of $1,015
and $979 at
September 30, 2012 and December 31, 2011, respectively
45,351
43,883
Deferred tax asset, net of valuation allowance
276
272
Other current assets
7,101
10,232
Total current assets
111,391
124,758
Property, equipment and software, net
36,163
27,974
Goodwill
134,818
129,292
Identified intangible assets, net
106,212
112,308
Deferred tax asset, net of valuation allowance
2,342
2,539
Other assets
3,887
3,194
Total assets
$
394,813
$
400,065
Liabilities and stockholders' equity
Current liabilities:
Accounts payable
$
10,448
$
12,218
Accrued expenses and other current liabilities
20,515
25,816
Current portion of deferred revenue
56,372
57,325
Customer deposits held in restricted accounts
22,317
19,017
Total current liabilities
109,652
114,376
Deferred revenue
9,947
8,693
Revolving credit facility
25,000
50,312
Other long-term liabilities
3,143
3,803
Total liabilities
147,742
177,184
Stockholders' equity:
Preferred stock, $0.001 par value, 10,000,000 shares authorized and
zero shares
issued and outstanding at September 30, 2012 and December 31, 2011,
respectively
-
-
Common stock, $0.001 par value per share: 125,000,000 shares
authorized,
76,262,909 and 73,115,779 shares issued and 75,361,930 and
72,701,571 shares
outstanding at September 30, 2012 and December 31, 2011, respectively
76
73
Additional paid-in capital
342,078
316,964
Treasury stock, at cost: 900,979 and 414,208 shares at September 30,
2012
(5,526
)
(3,138
)
and December 31, 2011, respectively
Accumulated deficit
(89,500
)
(90,961
)
Accumulated other comprehensive loss
(57
)
(57
)
Total stockholders' equity
247,071
222,881
Total liabilities and stockholders' equity
$
394,813
$
400,065
Condensed Consolidated Statements of Cash Flows
For the Three and Nine Months Ended September 30, 2012 and 2011
(unaudited, in thousands)
Three Months Ended
Nine Months Ended
September 30,
September 30,
2012
2011
2012
2011
Cash flows from operating activities:
Net income (loss)
$
2,113
$
(1,106
)
$
1,461
$
(1,472
)
Adjustments to reconcile net income (loss) to net cash
provided by operating activities:
Depreciation and amortization
7,945
7,442
23,682
21,458
Deferred tax expense (benefit)
782
(663
)
(74
)
(1,430
)
Stock-based compensation
6,013
6,408
14,317
16,230
Loss on disposal of assets
8
3
387
398
Acquisition-related contingent consideration
(604
)
(3
)
(422
)
102
Changes in assets and liabilities, net of assets acquired
and liabilities assumed in business combinations:
(7,308
)
(1,603
)
1,804
(5,587
)
Net cash provided by operating activities
8,949
10,478
41,155
29,699
Cash flows from investing activities:
Purchases of property, equipment and software, net
(8,696
)
(5,140
)
(18,601
)
(10,782
)
Acquisition of businesses, net of cash acquired
(5,982
)
(67,786
)
(19,491
)
(87,817
)
Intangible asset additions
-
-
(225
)
-
Net cash used by investing activities
(14,678
)
(72,926
)
(38,317
)
(98,599
)
Cash flows from financing activities:
Stock issuance costs from public offerings
$
-
$
-
$
-
$
(775
)
Payments on and proceeds from debt, net
(10,000
)
(2,782
)
(25,377
)
(8,524
)
Issuance of common stock
6,871
1,062
9,874
8,499
Purchase of treasury stock
(764
)
(310
)
(2,388
)
(783
)
Net cash used in financing activities
(3,893
)
(2,030
)
(17,891
)
(1,583
)
Net decrease in cash and cash equivalents
(9,622
)
(64,478
)
(15,053
)
(70,483
)
Effect of exchange rate on cash
5
(16
)
-
(36
)
Cash and cash equivalents:
Beginning of period
45,837
111,985
51,273
118,010
End of period
$
36,220
$
47,491
$
36,220
$
47,491
Reconciliation of GAAP to Non-GAAP Measures
For the Three and Nine Months Ended September 30, 2012 and 2011
(unaudited, in thousands)
Three Months Ended
Nine Months Ended
September 30,
September 30,
2012
2011
2012
2011
Revenue:
$
83,239
$
67,655
$
236,448
$
186,838
Acquisition related deferred revenue adjustment
3
276
86
520
Non-GAAP revenue
$
83,242
$
67,931
$
236,534
$
187,358
Three Months Ended
Nine Months Ended
September 30,
September 30,
2012
2011
2012
2011
Adjusted gross profit:
Gross profit
$
50,342
$
40,070
$
141,090
$
108,760
Acquisition related deferred revenue adjustment
3
276
86
520
Depreciation
1,707
1,428
4,917
4,437
Amortization of intangible assets
2,219
2,323
7,000
6,730
Stock-based compensation expense
649
459
2,088
1,069
Adjusted gross profit
$
54,920
$
44,556
$
155,181
$
121,516
Adjusted gross profit margin
66.0
%
65.6
%
65.6
%
64.9
%
Three Months Ended
Nine Months Ended
September 30,
September 30,
2012
2011
2012
2011
Adjusted EBITDA:
Net income (loss)
$
2,113
$
(1,106
)
$
1,461
$
(1,472
)
Acquisition related deferred revenue adjustment
3
276
86
520
Depreciation, asset impairment and loss on disposal of asset
3,416
2,696
10,018
8,570
Amortization of intangible assets
4,537
4,749
14,051
13,286
Interest expense, net
518
684
1,734
2,199
Income tax expense (benefit)
1,211
(266
)
704
(615
)
Litigation-related expense
860
605
9,759
961
Stock-based compensation expense
6,013
6,408
14,317
16,230
Acquisition related (income) expense
(572
)
969
(256
)
1,199
Stock registration costs
668
-
668
-
Adjusted EBITDA
$
18,767
$
15,015
$
52,542
$
40,878
Adjusted EBITDA margin
22.5
%
22.1
%
22.2
%
21.8
%
Three Months Ended
Nine Months Ended
September 30,
September 30,
2012
2011
2012
2011
Non-GAAP total product development:
Product development
$
12,274
$
11,230
$
35,325
$
32,083
Less: Amortization of intangible assets
-
-
-
-
Stock-based compensation expense
1,116
1,258
3,180
3,343
Non-GAAP total product development:
$
11,158
$
9,972
$
32,145
$
28,740
Non-GAAP total product development as % of non-GAAP revenue:
13.4
%
14.7
%
13.6
%
15.3
%
Reconciliation of GAAP to Non-GAAP Measures
For the Three and Nine Months Ended September 30, 2012 and 2011
(unaudited, in thousands)
Three Months Ended
Nine Months Ended
September 30,
September 30,
2012
2011
2012
2011
Non-GAAP total sales and marketing:
Sales and marketing
$
21,792
$
17,688
$
57,186
$
44,992
Less: Amortization of intangible assets
2,317
2,426
7,051
6,556
Stock-based compensation expense
2,653
3,433
4,422
8,793
Non-GAAP total sales and marketing:
$
16,822
$
11,829
$
45,713
$
29,643
Non-GAAP total sales and marketing as % of non-GAAP revenue:
20.2
%
17.4
%
19.3
%
15.8
%
Three Months Ended
Nine Months Ended
September 30,
September 30,
2012
2011
2012
2011
Non-GAAP total general and administrative:
General and administrative
$
12,545
$
11,840
$
44,794
$
31,190
Less: Acquisition related (income) expense
(572
)
969
(256
)
1,199
Stock-based compensation expense
1,595
1,258
4,627
3,025
Litigation related expense
860
605
9,759
961
Stock registration costs
668
-
668
-
Non-GAAP total general and administrative:
$
9,994
$
9,008
$
29,996
$
26,005
Non-GAAP total general and administrative as % of non-GAAP revenue:
12.0
%
13.3
%
12.7
%
13.9
%
Three Months Ended
Nine Months Ended
September 30,
September 30,
2012
2011
2012
2011
Non-GAAP total operating expense:
Operating expense
$
46,611
$
40,758
$
137,305
$
108,265
Less: Amortization of intangible assets
2,317
2,426
7,051
6,556
Acquisition related (income) expense
(572
)
969
(256
)
1,199
Stock-based compensation expense
5,364
5,949
12,229
15,161
Litigation related expense
860
605
9,759
961
Stock registration costs
668
-
668
-
Non-GAAP total operating expense:
$
37,974
$
30,809
$
107,854
$
84,388
Non-GAAP total operating expense as % of non-GAAP revenue:
45.6
%
45.4
%
45.6
%
45.0
%
Three Months Ended
Nine Months Ended
September 30,
September 30,
2012
2011
2012
2011
Non-GAAP operating income (loss):
Operating income (loss)
$
3,731
$
(688
)
$
3,785
$
495
Acquisition related deferred revenue adjustment
3
276
86
520
Amortization of intangible assets
4,537
4,749
14,051
13,286
Stock-based compensation expense
6,013
6,408
14,317
16,230
Acquisition related (income) expense
(572
)
969
(256
)
1,199
Litigation related expense
860
605
9,759
961
Stock registration costs
668
-
668
-
Non-GAAP operating income
$
15,240
$
12,319
$
42,410
$
32,691
Non-GAAP operating margin
18.3
%
18.1
%
17.9
%
17.4
%
Reconciliation of GAAP to Non-GAAP Measures
For the Three and Nine Months Ended September 30, 2012 and 2011
(unaudited, in thousands, except per share data)
Three Months Ended
Nine Months Ended
September 30,
September 30,
2012
2011
2012
2011
Non-GAAP net income:
Net income (loss)
$
2,113
$
(1,106
)
$
1,461
$
(1,472
)
Acquisition related deferred revenue adjustment
3
276
86
520
Amortization of intangible assets
4,537
4,749
14,051
13,286
Stock-based compensation expense
6,013
6,408
14,317
16,230
Acquisition related (income) expense
(572
)
969
(256
)
1,199
Litigation related expense
860
605
9,759
961
Loss on disposal of assets
8
1
387
398
Stock registration costs
668
-
668
-
Subtotal of tax deductible items
11,517
13,008
39,012
32,594
Tax impact of tax deductible items(1)
(4,607
)
(5,203
)
(15,605
)
(13,038
)
Tax expense resulting from applying effective tax rate(2)
(119
)
283
(162
)
220
Non-GAAP net income
$
8,904
$
6,982
$
24,706
$
18,304
Non-GAAP net income per share - diluted
$
0.12
$
0.10
$
0.34
$
0.26
Weighted average shares - diluted
74,282
68,792
73,689
68,096
Weighted average effect of dilutive securities
-
3,025
-
3,363
Non-GAAP weighted average shares - diluted
74,282
71,817
73,689
71,459
(1) Reflects the removal of the tax benefit associated
with the amortization of intangible assets,
stock-based compensation expense, Acquisition related deferred
revenue adjustment and
Acquisition related (income) expense.
(2) Represents adjusting to a normalized effective tax
rate of 40%.
Three Months Ended
Nine Months Ended
September 30,
September 30,
2012
2011
2012
2011
Non-GAAP cash flows from operating activities:
Cash flows from operating activities
$
8,949
$
10,478
$
41,155
$
29,699
Litigation related payments
7,486
825
8,582
2,861
Non-GAAP cash flows from operating activities
$
16,435
$
11,303
$
49,737
$
32,560
Three Months Ended
Nine Months Ended
September 30,
September 30,
2012
2011
2012
2011
Annualized Non-GAAP on demand revenue per average on demand unit:
On demand revenue
$
78,973
$
62,765
$
224,629
$
172,741
Acquisition related deferred revenue adjustment
3
276
86
520
Non-GAAP on demand revenue
$
78,976
$
63,041
$
224,715
$
173,261
Ending on demand units
7,823
7,074
7,823
7,074
Average on demand units
7,680
6,727
7,510
6,370
Annualized Non-GAAP on demand revenue per average on demand unit
$
41.13
$
37.49
$
39.90
$
36.27
Annual customer value of on demand revenue(1)
$
321,760
$
265,204
(1) This metric represents management's estimate for
the current annual run-rate value of on demand
customer relationships. This metric is calculated by multiplying
ending on demand units times
annualized Non-GAAP on demand revenue per average on demand unit
for the periods presented.
SYS-CON Events announced today that Wowrack will exhibit at SYS-CON's 12th International Cloud Expo, which will take place on June 10–13, 2013, at the Javits Center in New York City, New York.
Wowrack’s core expertise lies in high-availability Private and Public Cloud IaaS Hosti...
Cloud computing must have been brushing up on its bedside manner.
HIPAA requirements now stipulate everyone in the health-care industry must begin migrating patient records and other data to cloud computing. By 2015, all medical professionals with access to patient records must ...
As enterprises deploy private IaaS clouds into production they are reevaluating their future application delivery models. SUSE and WSO2 believe that private PaaS will leverage the automation and scalability of Private IaaS solutions, such as OpenStack-based SUSE Cloud, to deliver...
Join us for an exclusive briefing with Gartner where they will talk about how IT Executives are modernizing data centers and transforming operations to focus resources on business value.
During the session they will discuss how innovative IT solutions are needed to help IT deli...
Organizations across the world are increasingly starting to see the benefits of moving more and more services to the cloud. The focus on the cost-saving potential of cloud is rapidly shifting to completely transforming the business with cloud. As organizations are investing enorm...
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SYS-CON Events announced today that Wowrack will exhibit at SYS-CON's 12th International Cloud Expo, which will take place on June 10–13, 2013, at the Javits Center in New York City, New York.
Wowrack’s core expertise lies in high-availability Private and Public Cloud IaaS Hosti...
Cloud computing must have been brushing up on its bedside manner.
HIPAA requirements now stipulate everyone in the health-care industry must begin migrating patient records and other data to cloud computing. By 2015, all medical professionals with access to patient records must ...
As enterprises deploy private IaaS clouds into production they are reevaluating their future application delivery models. SUSE and WSO2 believe that private PaaS will leverage the automation and scalability of Private IaaS solutions, such as OpenStack-based SUSE Cloud, to deliver...
Join us for an exclusive briefing with Gartner where they will talk about how IT Executives are modernizing data centers and transforming operations to focus resources on business value.
During the session they will discuss how innovative IT solutions are needed to help IT deli...
Organizations across the world are increasingly starting to see the benefits of moving more and more services to the cloud. The focus on the cost-saving potential of cloud is rapidly shifting to completely transforming the business with cloud. As organizations are investing enorm...
