Panasas reports record growth
Panasas, the provider of HPC storage solutions, has achieved 52 per cent revenue growth across the EMEA region during the first three quarters of 2011, compared to the same period last year.
'In 2011, we focused on expanding our product portfolio and building our regional infrastructure to strengthen our worldwide footprint,' said Faye Pairman, president and chief executive officer of Panasas. 'As we turn our sights to delivering high performance scale-out NAS products to the broader commercial market, we anticipate continued success in all of our key verticals and global regions.'
High demand for the Panasas ActiveStor 12 high performance parallel storage appliance drove growth across all vertical segments in EMEA. The company saw 56 per cent year-over-year growth in the energy sector while manufacturing grew by 60 per cent. The region’s financial sector fuelled the most notable growth at nearly 340 per cent. Panasas attributes its success in this sector to the proven advantages its parallel storage systems offer over traditional scale-out NAS for the extreme performance requirements of major financial institutions, many of which have European headquarters.
Revenue from advanced research institutes recorded close to 200 per cent year-over-year growth despite the tough economic climate that is forcing many research facilities to cut IT budgets aggressively. Panasas storage provides the extreme performance, scalability, and ease of management these institutions require to consolidate their storage and to deliver results quickly and economically, as demonstrated by the recently announced ALICE supercomputing project at the University of Leicester.