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Compugen registers strong growth as it reflects on FY2021 successes Français

Compugen logo (CNW Group/Compugen Inc.)

News provided by

Compugen Inc.

Mar 09, 2022, 15:08 ET

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Canadian IT firm bolsters leadership and national workforce to turn market trends into opportunities

  • $660 million in annual revenues for FY2021
  • $110 million Total Services revenues with $50 million in Managed Services revenues
  • New CSMO and COO offices created to capture Canada's $135 billion IT market

RICHMOND HILL, ON, March 9, 2022 /CNW/ - Compugen has wrapped up a successful 2021 financial year with the announcement of key performance milestones. The Canadian IT firm recorded revenue of just under $660 million. Fiscal highlights include record sales for Software and for the first time, in excess of $50 million in annualized Managed Services revenue and a Total Services revenue of $110 million, making Services the company's highest growth category. Throughout 2021, the company shipped a total of more than 340,000 end-user devices, reflecting the rising demand for individual productivity across many sectors, with education continuing to be a major growth area.

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Coming out of the pandemic, organizations are realizing the essential nature of IT investments, where Compugen sees substantial growth opportunities. In preparation for this, Compugen recently created two new roles - the office of the Chief Operating Officer and Chief Sales and Marketing Officer.

• $660 million in annual revenues for 2021• $110 million Total Services revenues• CSMO and COO offices created

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Leading the new COO role is Jeremy Erlick, who brings over 20 years of experience in sales. He will bring a new perspective in this role supporting the sales and services organization, looking from a customer lens working backwards across operations and support to standardize, simplify and automate Compugen's processes.

Assuming the new CSMO role is Terry Mirza, who is poised to create a unified National Sales and Marketing Organization focused on a customer segmentation model. Terry previously led the company's Western Canada business and is also president of Compugen's US operations. These two tenured executives will lead the growth strategy focused on expanding and deepening Compugen-branded services that help organizations realize new possibilities.

"The IT market is looking up based on the data points that we have seen, with several intelligence firms predicting promising developments throughout 2025 that we plan to take full advantage of. Slated to exceed $135 billion in three years, Canada's IT growth areas such as cloud and security are already some of the focal points for Compugen, so we are well poised to further expand our market share in these sectors," explained CSMO Terry Mirza.

"The past year was yet another learning opportunity for Compugen in deepening our understanding of our client base and the wider IT market. Not everyone came out the other end with as much success as we did, and thus this makes our 2021 milestones that much more significant. Our recent performance puts us in a great position to better serve our current customers and win new ones. I am excited to anticipate what 2022 has in store for us. We have demonstrated the adaptability and resiliency that customers can count on," Harry Zarek, President and CEO, concluded.

About Compugen Inc.
Compugen is one of Canada's largest privately-owned Information Technology (IT) Solution Providers dedicated to helping customers design, acquire, integrate and operate technology. Our mission is to help organizations realize new possibilities. Every day, our dedicated employees across North America focus on providing extraordinary customer service and support experiences to private and public sector organizations. We combine breadth of skill, depth of expertise, and commitment to operational excellence at scale to deliver exceptional, customer-focused experiences.

Visit www.compugen.com to find out more.

SOURCE Compugen Inc.

For press inquiries, please get in touch via the following contact information: Jim Joquico, Sr. Corporate Communications Specialist, [email protected]

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Compugen Inc.

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