Dave Savastano05.08.14
In its first year since becoming privately held, Savi has orchestrated a remarkable turnaround that exceeded all expectations in 2013 and created a wave of momentum and growth that continues in 2014.
The transformation occurred in all areas of the business, and included major additions to the company’s management team, an aggressive new product development and launch schedule, new strategic partnerships, and the transfer of operating functions from California to Alexandria, VA. Financial evidence of the across-the-board success was best seen in the $13 million EBITDA improvement from 2012 to 2013, and a return to profitability.
“At the start of 2013, we focused Savi’s activities around two key objectives: completing our transition to an independent, vibrant, stand-alone company and putting the company on a path to profitability and long-term success by bringing new sensor analytic solutions to market,” said Bill Clark, president and CEO, Savi. “We exceeded both of these goals and positioned Savi to leverage the growing demand for our sensor analytic solutions in the $15B big data analytics market, currently growing at 27% CAGR.”
The transformation occurred in all areas of the business, and included major additions to the company’s management team, an aggressive new product development and launch schedule, new strategic partnerships, and the transfer of operating functions from California to Alexandria, VA. Financial evidence of the across-the-board success was best seen in the $13 million EBITDA improvement from 2012 to 2013, and a return to profitability.
“At the start of 2013, we focused Savi’s activities around two key objectives: completing our transition to an independent, vibrant, stand-alone company and putting the company on a path to profitability and long-term success by bringing new sensor analytic solutions to market,” said Bill Clark, president and CEO, Savi. “We exceeded both of these goals and positioned Savi to leverage the growing demand for our sensor analytic solutions in the $15B big data analytics market, currently growing at 27% CAGR.”