Phoenix Business Journal – by Patrick O’Grady
Date: Friday, April 15, 2011, 3:00am MST
Reprinted from: The Phoenix Business Journal:
Software companies in the Phoenix area are ramping up hiring to meet increasing demand for business information technology services.
A variety of software companies, particularly those developing specialized software as a service, are experiencing the uptick.
“Each product that gets developed has to have a market, and a market where people are willing to pay for what they produce,” said Paul Winandy, CEO of WebPT LLC.
Winandy’s Phoenix company developed software for physical therapists. WebPT has hired 17 people since last October, after receiving a $1 million investment from Canal Partners LLC.
Infusionsoft, a Gilbert-based company specializing in marketing software …
NETtime Solutions Named to the Inc. Magazine Fourth Annual Exclusive List of America’s Fastest-Growing Private Companies—the Inc. 5000
NETtime Solutions Ranks No. 3,538 on the 2010 Inc. 5000 with Three-Year Sales Growth of 48%
Scottsdale, AZ (PRWEB) October 8, 2010
NETtime Solutions has been ranked No. 3,538 on Inc. magazine’s fourth annual Inc. 5000, an exclusive ranking of the nation’s fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy—America’s independent-minded entrepreneurs.
“The leaders of the companies on this year’s Inc. 5000 have figured out how to grow their businesses during the longest recession since the Great Depression,” said Inc. president Bob LaPointe. “The 2010 Inc. 5000 showcases a particularly hardy group of entrepreneurs.”
NETtime Solutions delivers the available anywhere, anytime SaaS time and attendance solution, NETtime, that helps companies maintain compliance with local, state and federal labor laws. NETtime Solutions was ranked #225 in the software industry, which was the second top-performing industry behind the Real Estate sector with a growth rate of 126 percent.
Despite the fact that most of this year’s measuring period of 2006-2009 took place during the latest recession, aggregate revenue among the companies on the list actually increased to $321.6 billion, up more than 50 percent from last year.
The 2010 Inc. 500|5000 is ranked according to percentage revenue growth when comparing 2006 to 2009. To qualify, companies must have been founded and generating revenue by June 30, 2006, be based in the United States, privately held, for profit and independent as of December 31, 2009.
“We are ecstatic that we have been named to the Inc. 5000,” said NETtime Solutions’ founder and CEO, Bahan Sadegh. “It is an honor to be listed among so many great companies and a testimony to our focused efforts to create a great company at a time when the economy has faced so many challenges,” he said.
About NETtime Solutions
NETtime Solutions is the nimble and responsive pioneer of available anywhere, anytime SaaS time and attendance. NETtime helps companies manage their workforce with real-time time and attendance data while maintaining compliance with local, state and federal labor laws.
Reprinted from: PRWeb.com
Reprinted from the Phoenix Business Journal:
Canal Partners buys majority stake in NETtime Solutions, LLC.
Canal Partners LLC has acquired a controlling interest in NETtime Solutions LLC, known for its web-based time and attendance software-as-a-service (SaaS) suite called NETtime.
Canal Partners is a Scottsdale-based private equity firm. Founded in 2002, NETtime has 27 employees and posted an undisclosed profit on revenue of $3.2 million in 2008, according to the announcement Tuesday. It has offices in Scottsdale and Bangalore, India.
The deal marks the second significant purchase for Canal Partners, which in November purchased a majority stake in online ground transportation booking company Limos.Com. Financial details of the deal were not disclosed.
“NETtime Solutions is a compelling business because it’s a top-tier player in the time and attendance space and its software as a service model makes it highly scalable,” said Canal Partners Managing Partner Jim Armstrong. “The company also has an impressive customer list that includes corporations such as Delta Air Lines, F.A.O. Schwarz and Aramark.”
NETtime’s software, which enables companies to manage all of their time and attendance functions via the web, covers more than 50,000 of its customers’ employees, the announcement said.
Armstrong and partner Wain Kellum, joined the NETtime Solutions board. Armstrong also is chairman of retail software provider JDA Software Group Inc. (Nasdaq:JDAS), which he founded in 1978. Canal Partners Managing Partner Todd Belfer was a founder of NETtime Solutions and serves as the company’s chairman.
Tuesday, June 16, 2009, 3:43pm MST | Modified: Wednesday, June 17, 2009, 6:18am