Connecticut Innovations Presents Outstanding Portfolio Company Award to Perimeter Internetworking

Milford-based company receives honor before audience of
700 - Attributes Rapid Growth to its Leadership in Providing
Complete Security On Demand to the SMB Marketplace
 

Rocky Hill, CT - October 19, 2006 – Connecticut Innovations (CI) will present its Outstanding Portfolio Company Award to Milford-based Perimeter Internetworking at the Alliance for Connecticut Technology Innovation Day and Award Dinner on Thursday, October 19, 2006, at the Connecticut Convention Center in Hartford. The award will be one of six awards presented by Alliance partners that evening, before an expected audience of approximately 700.

The Connecticut Innovations Outstanding Portfolio Company Award is presented to a CI portfolio company that demonstrates sustained growth and leadership in the Connecticut technology community and whose products or services address the public good. Perimeter's CEO Brad Miller credits the company's 410% percent revenue growth from 2001–2005 to Perimeter’s unique business approach of providing complete security on demand, also known as security-as-a-service. Perimeter has also achieved profitability in each of the past five years.

“We are very pleased to receive this recognition from Connecticut Innovations whose early investment helped put us on our current path to success,” said Brad Miller, CEO of Perimeter Internetworking. “We are now at the forefront of a young but large and growing market of companies offering security on demand. Having pioneered security-as-a-service six years ago, we have been doing it the longest and accordingly, have the most complete offering available. Just as salesforce.com revolutionized the CRM market, Perimeter is doing the same thing for IT security, selling functionality rather than products, and making this functionality affordable to SMBs.”

Perimeter Internetworking and its 170+ employees are playing an important role in protecting confidential data and information in Connecticut and beyond, delivering critical on demand security services to business customers nationwide. In just seven years of operation, the company has achieved impressive growth, in part, by acquiring related companies in its industry. In the past two years alone, Perimeter has acquired eight companies. Perimeter has grown its customer base to over 3,600 companies nationwide; grown annual revenues to over $23 million in 2005; and achieved profitability in each of the past five years.

“We are pleased to be honoring Perimeter Internetworking with our Outstanding Portfolio Company Award this year,” said Frank Dinucci, newly appointed CI president and executive director. “The Perimeter team has achieved impressive growth through its tenacity and ability to develop smart strategies and execute upon those strategies. What’s more, they have done this while also remaining profitable, which is truly a remarkable accomplishment.”

Security-as-a-service is experiencing rapid growth now because average companies are increasingly impacted by the growing number of security threats. The average company does not have the budget or staff to research, buy, implement, integrate and continuously update a security solution. Perimeter has pre-integrated over 50 on demand security services to address potential threat to our clients’ businesses including Intrusion Defense, System Defense, User Defense, Email Defense, Vulnerability Defense, Secure Networking and guarantees them for current and future regulatory compliance.

About Connecticut Innovations, Inc.
Connecticut Innovations (CI) is a quasi-public organization dedicated to driving a vibrant, entrepreneurial, technology-based economy in Connecticut. CI stimulates high-tech growth by investing in: early-stage Connecticut technology companies; university/industry research collaborations; technology transfer; and, clean energy initiatives through the Connecticut Clean Energy Fund. CI also fosters collaboration among government, business, non-profit and academic organizations to advance technology growth and promotes public policies consistent with CI’s mission. Since 1995, CI has been the state’s leading investor in high technology and clean energy, investing over $180 million in more than 100 companies, projects, and other programs. For more information on CI, please visit www.ctinnovations.com.