CDS Posts 24% Revenue Growth, Significant Profitability Gains For First Half of 2021

EATONTOWN, N.J., June 17, 2021 /PRNewswire/ -- CDS, the leading provider of multi-vendor services (MVS) for data centers worldwide, has achieved strong double-digit revenue growth and significantly increased profitability for the first half of 2021. As the final days count down to the midyear mark, CDS is building on the momentum from a strong 2020 with new partnerships that broaden its already wide range of product support and the continued enhancement of its comprehensive Raytrix MVS platform.

Monthly recurring revenue is up 24% on a year-to-year basis compared with last year's first six months, with a corresponding rise in profitability, on the strength of contract renewal rates exceeding 90%. Every geographic region has shown impressive growth, with new large enterprise accounts in North America, EMEA, and APAC as well as strong growth with each major OEM partner.

Daniel Newton, CEO of CDS, said, "Through the pandemic we've been able to help our partners and end-user customers gain greater control over the evolution of their data centers, extend the useful life of their infrastructure and free up budget dollars to accelerate modernization efforts and meet the rising demands of their customers. Our partner-first approach and software-driven service and support platform Raytrix MVS are setting CDS apart from the low-value third-party maintenance industry and its conflicting and often damaging practices."

Among the CDS highlights of the first half of 2021:

• The launch of the new CDS Raytrix MVS platform, a comprehensive set of capabilities that extend the useful life of storage, server and network infrastructure running mission-critical workloads in hybrid cloud environments.
• The introduction of CDS RapidStart, the industry's fastest service on-boarding process, as well as Warranty+, CoverageNow, and DiscoveryNow services to help customers cost-effectively manage change during their data center lifecycle.
• The new CDS Commit channel program, aimed at helping solution providers bring the most advanced, comprehensive and complementary infrastructure services to their enterprise customers on a global basis.
• Added new global OEM agreements to expand coverage of enterprise data infrastructure.
• Expanded Raytrix MVS platform with enhanced support for Tier 1 Enterprise Storage arrays, Oracle Exadata, Cisco Switches, Routers, and Converged Infrastructure, NetApp Filers and Arrays, and multi-vendor object storage platforms.
• Enhanced customer portal ServiceCloud for real-time collaboration and self-service.
• The debut appearance by CDS on CRN's MSP 500 list as a "Technology Pioneer."
• Sandi Rygwalski Fryer, CDS Vice President of OEM & Channel Sales, was recognized among CRN's Women of the Channel.

John Beauclair, Senior Principal at New State Capital Partners, said, "We analyzed the data center service and support market for nearly two years before investing in CDS. We thought the market opportunity was very promising and that talent and the right strategy would be the keys to success. We are very pleased that CDS is exceeding its targets and differentiating itself as a trusted partner for the leading IT infrastructure providers, channel partners and enterprise customers."

About CDS

CDS is the leading provider of multi-vendor services (MVS) for data centers worldwide. Its Raytrix MVS software platform offers a range of mission-critical data center hardware maintenance and support for high-end storage, server and network equipment. CDS offers post-warranty support services through OEMs and channel partners, servicing a diversified customer base throughout the Americas, EMEA, Asia Pacific, and Japan. The company's maintenance and support services are designed to extend the useful life of its clients' IT infrastructure, further increasing return on investment for these systems. CDS employs highly skilled, industry-certified engineers and dedicated account managers globally. Partnering with the leading data center infrastructure providers to deliver MVS on a global basis, CDS is assisting more than 700 customers in 45 countries to unlock spend in the data center across enterprise IT infrastructure with diverse maintenance needs and cost containment requirements.

Media Contact:

Carissa Ryan, CTP for CDS
[email protected]

SOURCE CDS