PALO ALTO, Calif., Nov. 15 /PRNewswire-FirstCall/ -- TIBCO Software Inc. (Nasdaq: TIBX) today announced that it is proud to be nominated as a founding member of the World Economic Forum's Community of Global Growth Companies.
PALO ALTO, Calif., Nov. 15 /PRNewswire-FirstCall/ — TIBCO Software Inc. (Nasdaq: TIBX) today announced that it is proud to be nominated as a founding member of the World Economic Forum's Community of Global Growth Companies.
TIBCO was selected as a founding member of the Global Growth Companies because of its proven ability to positively impact organizations with greater visibility into business threats and opportunities. With a compound annual growth rate of more than 25 percent since inception, annual revenues surpassing $500 million, and 40 international offices, TIBCO gives 3,000 customers across industries and around the world better awareness and agility — what TIBCO calls The Power of Now(R). For example, TIBCO's mission critical software keeps 18 of the top 20 retail banks and nine of the top 10 investment banks up and running today.
"TIBCO is honored to be one of the Founding Members of the Community of Global Growth Companies," said Vivek Ranadive, chairman and CEO, TIBCO. "We expect our participation in the community along with the valuable contributions of other founding members to help accelerate economic development and innovation in emerging markets around the globe."
World Economic Forum Founder and Executive Chairman Klaus Schwab said, "This is a truly global community made up of companies destined to join the ranks of the multinationals in the next five to ten years. They are successful because they are able to challenge the status quo and drive their industry forward while nurturing the values of global corporate citizenship which the World Economic Forum is built upon."
The Community of Global Growth Companies was launched at the Inaugural Annual Meeting of the New Champions in September this year in Dalian, People's Republic of China. For the summit, known as the "Summer Davos", Schwab had set the goal of 100 Founding Global Growth Company Members. Today, he welcomed the more than 140 Founding Members, underlining that the time is right for this new initiative. Forty percent of the Members are from Asia; 26% hail from Europe; 20% are based in the Americas; and 14% come from Africa and the Middle East. The second Annual Meeting of the New Champions will take place in Tianjin, People's Republic of China, on 25-27 September 2008.
The Forum's Head of Membership Development within the Centre for Global Growth Companies, Grant McKibbin observed, "These Founding Members form the core of this community, and have already exhibited enthusiasm and leadership in helping us determine the direction of this strategic initiative of the Forum. As ambassadors of the group, we look forward to engaging them in growing the community and addressing the common issues related to what it means to go global." Please click on http://www.weforum.org/ggc for the full list of the 142 Founding Members of the Community of Global Growth Companies.
The Community of Global Growth Companies is based on the premise that visionary companies can expand more rapidly than at any time in history, helped by new factors such as global financing, instant communications, rapidly scaleable technologies and integrated logistical networks. In this environment, an increasing number of new players are building a global reach and competitive advantage. This group of highly influential companies is reshaping the global business landscape. While Global Growth Companies do not have the size and international reputation of traditional multinationals, they succeed through speed, flexibility and constant innovation. Some of the key indicators of these companies are:
— Growth rates exceeding 15% year-on-year — Revenues typically between US$ 100 million and US$ 2 billion — Demonstrated leadership in a particular niche or industry
About the World Economic Forum
The World Economic Forum (http://www.weforum.org), based in Geneva, Switzerland, is an independent organization committed to improving the state of the world. Funded by the contributions of 1,000 of the world's foremost corporations, the Forum acts in the spirit of entrepreneurship in the global public interest to further economic growth and social progress. The Forum serves its members and society by creating partnerships between and among business, political, intellectual and other leaders of society to define, discuss and advance key issues on the global agenda. Incorporated in 1971 as a foundation, the World Economic Forum is impartial and not-for-profit, and is tied to no political, partisan or national interests. In 1995 the Forum was awarded NGO consultative status with the Economic and Social Council of the United Nations.
TIBCO Software Inc. (Nasdaq: TIBX) provides enterprise software that helps companies achieve service-oriented architecture (SOA) and business process management (BPM) success. With over 3,000 customers, TIBCO has given leading organizations around the world better awareness and agility-what TIBCO calls The Power of Now(R). To learn more, contact TIBCO at +1 650-846-1000 or on the Web at http://www.tibco.com.
Notes to Editors:
For more information on TIBCO, please visit: http://www.tibco.com.
Please click on http://www.weforum.org/ggc for the full list of the Founding Members of the Community of Global Growth Companies.
TIBCO, The Power of Now, and TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.
SOURCE TIBCO Software Inc.