Opengear Exits Export Plan with $10M Momentum
Australian success Opengear has graduated from an Australian Government export encouragement program with $10 million in revenues, US and European branches and 90 per cent export sales.
The company, which maintains its executive management and Research & Development teams in Brisbane, has just completed the Federal Export Market Development Grant (EMDG) program.
Opengear has received EMDG funding support for the past seven years. The Austrade program aims to help Australian firms take their solutions to customers round the world.
Opengear Chairman Bob Waldie said the EMDG program had been a “great success”. “Opengear’s sales have grown 40-50 per cent annually for each of the past three years,” he said.
”Now nearly 90 per cent of Opengear’s sales are outside our Australian home turf.”
Mr. Waldie said EMDG financial support had enabled Opengear to build an aggressive international trade show presence. “We’ve found tradeshows to be a key success factor in growing our export business,” he said.
“This month alone, Opengear is exhibiting at Interop in New York City, IT Expo in London and the Data Centre Dynamics show in Melbourne. Next month, we have stands at Usenix LISA’13 in Washington, Cisco Live in Mexico and at Norway’s largest IT fair, ATEA Community. Opengear has exhibited at many of these shows for years: In addition to new business, they provide a great opportunity to meet with customers and key technology and channel partners.”
As well as commercial success, Opengear regularly wins awards for its innovative designs, including a national iAward for its ACM5500 Remote Infrastructure Management device last year. In May, Opengear was listed as a “Cool Vendor” in the Gartner 2013 IT/OT Alignment and Integration report.
Opengear CEO Rick Stevenson said EMDG support had played a key part in funding Opengear’s growth. “We are grateful to Austrade for those contributions,” he said.
“Although the grants have ended, we are at the point now where we are growing profitably with a strong positive EBIT. More than half our employees are now employed in our overseas offices.”
Mr. Stevenson said the EMDG program was just one of the ways that Government could support Australian companies such as Opengear. “In our earlier years, we secured a three-year contract with DFAT (the Department of Foreign Affairs and Trade) to deploy more than 200 of our console servers to DFAT posts, both in Australia and abroad,” he said.
“This gave Opengear a quality reference customer and opened the door for enterprise and government customers globally. Having such quality local reference customers was critical in the early phase as we grew the business from start-up to $10 million in revenue.”View all Press Releases
Founded in 2004, Opengear delivers next generation intelligent solutions for managing critical IT and communications infrastructure. Opengear’s solutions, featuring embedded Smart OOB™ technology, equip our customers’ networks with intelligent automation and bulletproof resilience, enabling them to optimize technical operations and secure business continuity. The company is headquartered in New Jersey, with a manufacturing facility in Utah, R&D operations in Australia and Silicon Valley, and sales offices in Europe, Asia and the USA. For more information, please visit www.opengear.com.