STME celebrates 60% sales jump

Shrugs off EMC split fears with announcement of slew of deals

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By  Published  September 22, 2006

STME’s ending of its long-standing partnership with EMC doesn’t seem to have dented the storage solution provider’s fortunes, with the firm this month claiming it grew its revenues 60% in Q206 over the same period last year.

STME said its sales for the first half of this year had risen 140% compared to 2005, with the UAE, Saudi Arabia and Egypt markets all doing especially well.

Jocelyn Al Adwani, Deputy CEO, STME, said: “Our strategy of investing in skills and focusing on our customers continues to yield results and we are very pleased that the growth is coming from both existing and new customers throughout the region.”

“After our highly successful first quarter, we are delighted that the momentum is continuing and we are encouragedby the favourable distribution of revenue, which is indicative of our all round growth and consistency. Strengthening of strategic alliances and major customer wins have fuelled the commendable performance of STME in this quarter.”

In the second quarter of this year, STME signed a number of “important” deals, the firm said, in such diverse industries asfinance, manufacturing, media, investment, oil and gas, telecommunications, logistics and Islamic banking.

STME also signed a deal with Saudi Arabian Airlines to supply it with StorageTek’s Virtual Storage Manager (VSM) system.

STME has 14 offices in 11 countries across the Middle East. This month it announced the opening of a new corporate office in Egypt, which builds on its eight years of experience working in the Egyptian market (see IT Weekly 16 - 22 September 2006).

Earlier this year STME split with long-term partner EMC, over issues with “incompatible” regional strategies (see IT Weekly 29 April - 5 May 2006).

The decision ended a working partnership that had lasted for 16 years. STME subsequently signed a deal with Sun Microsystems to offer the vendor’s full range of solutions here in the Middle East, as well as tightening up alliances with Hitachi Data Systems (HDS) and StorageTek, now owned by Sun.

The firm said that these strengthened global relationships had helped it to grow its services business in Q206.

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