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Novell Magyarország projects 5%-10% revenue growth in 2010

Software distributor Novell projects 5%-10% revenue growth in 2010 in Hungary even though it sees the Hungarian IT market expanding only modestly during the year.

Novell Magyarország Managing Director Tamás Szittya told MTI that the company closed the year ended on October 31, 2009 with good results, recording 7.25% revenue growth from the previous business year in dollar terms and retaining its positions. The company commands a leading 37% share of Hungary's market for identity and access-management solutions. This market, worth $3.8 million in 2008, is projected to grow an average of more than 26% per year over the coming five years, according to market researcher IDC Magyarország.

Szittya said the company closed several successful projects in the past business year with Hungarian large companies, considerably increasing revenue from new license sales. Revenue from Linux license sales grew 60%, while sales of IT security software rose 21% and revenue from system supervision increased 22%. (MTI-Econews)