Identity and access control solutions provider Hitachi ID Systems announced Thursday that the company recently closed its 2010 fiscal year with “strong profits and record revenues” due to growing demand for its Identity Manager (IAM) and Privileged Access Manager (PAM) solutions. The company’s actual financial figures were not disclosed.
In addition, the 2010 fiscal year also saw the company expand into the Europe, Middle East and Africa (EMEA) market with a local staff based in the Netherlands.
In a statement, the company said that it also saw significant growth in the number and size of identity management deployment projects.
"We are fortunate that the recession is now behind us," said Gideon Shoham, the company’s CEO. "We remained profitable through the recent economic hardship and are well positioned to innovate and grow going forward."