Financial Services Monitoring

SAN FRANCISCO, Calif.—July 16, 2008—GroundWork Open Source, Inc. (www.groundworkopensource.com), the leader in commercial open source systems (OSS) and network management software, announced today that Prager Sealy & Co., LLC, has joined Commonwealth Financial Network, National Australia Bank, Royal Bank of Canada, Stark Investments and Sterling Savings Bank as a GroundWork customer. Prager Sealy has deployed GroundWork Monitor Enterprise 5.2 to monitor nodes in seven different geographies.

Specifically suited for distributed, highly available financial services environments, GroundWork Monitor Enterprise offers high capacity and throughput with extensibility that meets the needs of enterprise customers who manage distributed network environments. Its open architecture allows for horizontal integration with third-party help desk, ticketing, asset tracking, and CMDB systems that are often deployed across the enterprise in bank datacenters.

According to Mary Knox, research director in Gartner’s financial services practice, “the adoption of OSS continues to increase among banks and investment services firms. Among the investment services firms surveyed, approximately 84% expect to be using open source software by the end of 2008. Adoption is most notable in this category because they are impacted by escalating transaction volumes and data processing requirements as well as cost pressures.”

In 2007, GroundWork saw financial services customers with distributed, enterprise-class deployments increase to 21% of subscription revenue, while nearly 30% of GroundWork's subscriber base upgraded to enterprise-class subscriptions. GroundWork Monitor Enterprise was created in direct response to requests from financial services customers for a high capacity open source monitoring solution.

David Lilly, founder and CEO of GroundWork Open Source. “GroundWork’s products are extensible and flexible enough to integrate seamlessly with financial services infrastructures and often deliver a comparable cost savings of more than 80%. Responding to our financial services customer needs, GroundWork Monitor can scale to more than 10,000 servers and many distributed locations around the world ”

About GroundWork

San Francisco-based GroundWork Open Source, Inc. (http://www.groundworkopensource.com) is the market leader in commercial open source network and systems management software, delivering enterprise-class network, system and application management solutions at a fraction of the cost of proprietary solutions.

GroundWork's best of breed approach gives customers the flexibility to use diverse open source and proprietary technologies together under a unified interface, allowing users to leverage the advantages of open source while simultaneously preserving existing investments in legacy management tools. GroundWork’s solutions are in use at organizations like Academy of Motion Picture Arts and Sciences, SAIC, Seton Hall University, Siemens, and World Bank. GroundWork’s solutions are available from GroundWork, its partners including Red Hat, Unisys, Fujitsu, and a worldwide network of channel partners. The company is privately held, with investments from Canaan Partners, Mayfield Fund, JAFCO Ventures and SAP Ventures.