Red Hat Inc eyes double-digit growth in next financial year

KUALA LUMPUR (April 23): Provider of open source software solutions, Red Hat Inc, is targeting a double-digit growth in the current financial year ending Feb 28, 2015, fueled by strong subscription growth for its Linux operating system.

For the just-ended financial year ended Feb 28, 2014, revenue increased to US$1.53 billion, from US$1.33 billion chalked up in the 2013 financial year.

For the fourth-quarter ended Feb 28, 2014, Red Hat's revenue rose 15 per cent to US$400 million, from the same quarter last year.

Asean Senior Director and General Manager, Damien Wong, said the company saw significant upturn in Malaysia, in terms of customer's interest, awareness and demand for Red Hat products and services, especially for its flagship product; Linux.

"Adoption rate is higher, since large organisations and enterprises have greater acceptance towards open source system," he told reporters, during a briefing on Red Hat's Business Performance and Strategic Initiative.

Meanwhile, Country Manager for Malaysia and Brunei, David Yap, said the company planned to expand its partner landscapes, which included resellers, original equipment manufacturers and system integrators in Malaysia.

"We are currently aiming for more independent software vendors to become our partners, in the near-future," said Yap.

The company also aimed to implement open and hybrid clouds systems, together with its next generation datacenters in Malaysia next year, in order to continuously improve customer support, to gain trust from local clients.

Red Hat provides innovative solutions to more than 90 per cent of the fortune companies, across several verticals, including financial services, technology and media telecommunications, service providers and government entities.

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Red Hat Inc eyes double-digit growth in next financial year