Software Magazine ranks Proteans Software as one of the world's largest software companies

Bangalore, Sept 30 (ANI/Business Wire India): Proteans today announced its inclusion on the Software Magazine's Software 500 ranking of the world's largest software and service providers, now in its 27th year.

Proteans participating for the first time in this survey was ranked 461, with an impressive growth rate of 62.7 per cent.

"This ranking as one of the World's largest Software Companies raises the bar on Proteans capability in the highly competitive outsourced product development space to deliver consistently on customer's objectives and drive revenues," said Sudhakar Gorti, CEO of Proteans Software Solutions.

"The 2009 Software 500 results show that revenue growth in the software and services industry was healthy, with total Software 500 revenue of 491.3 billion dollars worldwide for 2008 representing 8.8 per cent growth from the previous year," said John P. Desmond, editor of Software Magazine and Softwaremag.com.

"The Software 500 helps CIOs, senior IT managers and IT staff research and create the short list of business partners," Desmond said.

"It is a quick reference of vendor viability. And the online version to be posted soon at www.Softwaremag.com is searchable by category, making it what we call the online catalog to enterprise software," Desmond added.

The Software 500 is a revenue-based ranking of the world's largest software and services suppliers targeting medium to large enterprises, their IT professionals, software developers and business managers involved in software and services purchasing.

Some 44 per cent of the 2009 Software 500 companies are privately held.

The ranking is based on total worldwide software and services revenue for 2008. This includes revenues from software licenses, maintenance and support, training and software-related services and consulting.

Suppliers are not ranked on their total corporate revenue, since many have other lines of business, such as hardware.

The financial information was gathered by a survey prepared by King Content Co. and posted at www.Softwaremag.com, as well as from public documents. (ANI)