GBM grows by 11%

Despite the ever-present economic recession, GBM grew its business by 11% in 2002 and generated revenues of around US$130 million. It's server division starred, as it contributed US$26 million to GBM’s coffers.

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By  Matthew Southwell Published  March 24, 2003

Despite the ever-present economic recession, Gulf Business Machines (GBM) grew its business by 11% in 2002 and generated revenues of around US$130 million. While the company experienced growth across all of its product lines, its server division performed particularly well as it grew 21% last year and contributed US$26 million to GBM’s coffers.

“Server and storage consolidation continues to be a major customer IT requirement at a global industry level, and optimisation of customer’s resources will be a key area of focus,” says Cesare Cardone, CEO of GBM.

“As newer technologies, platforms and applications are introduced, managing an IT infrastructure and putting in place the necessary security becomes increasingly complex. Our strength is that no competitor has the depth and the breadth of technologies to present a full solution — hardware, software, networking and services — as we can,” he adds.

The best performer in GBM’s server division was its Unix server, which grew 34% year-on-year. Enterprise Storage systems also expanded, showing a 75% increase on the previous year and revenue of US$7 million.

Continuing the positive growth trend was software. GBM added 62 new customers to its client list in 2002 and these contributed to a 14% increase over 2001 and US$25 million to the total software revenue figure. Top performers were the IBM Websphere brand with US$3.6 million (up 58%) and the Tivoli brand, which grew 49% and generated US$2.4 million in revenue.

“Our software middleware services grew by 41%, contributing more than US$7 million to our revenue while [our] networking business [also] grew robustly by 37%, reaching a total revenue figure of US$12 million,” comments Cardone.

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