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Elastic Path's Innovation and Growth Continues to Garner Industry Recognition

British Columbia Technology Industry Association awards Emerging Company of the Year to Elastic Path

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/18/09 -- Elastic Path Software, an enterprise ecommerce platform provider, has been named the BC Technology Industry Association's (BCTIA) Emerging Company of the Year in last night's awards ceremony. The BC Impact Award recognizes technology companies that have excelled in the industry with their innovative solutions, business practices, improvements to productivity and environmental sustainability while saving their customers millions of dollars. As the Emerging Company of the Year, Elastic Path has demonstrated outstanding performance as a technology enterprise, with growing revenues, and the potential of becoming a leader in its market.

"On behalf of the Elastic Path team, we are honoured to win this award and to be recognized by our peers and leaders in the industry," said Harry Chemko, Co-founder and CEO of Elastic Path Software. "Our growth and innovation have been acknowledged over the past few weeks in an industry that is dominated by large software vendors. With the support of our team and enterprise customers, we look forward to continuing to set the bar in ecommerce and innovation."

Elastic Path Software provides a flexible Java-based ecommerce framework for enterprises with unique requirements, complex IT environments, and the need to maintain internal control. Founded in 2000, the company started out with only a $15,000 start-up loan and as a small services firm with 10 employees. It has grown to become a profitable company with 100 + employees in two countries and over 200 customers worldwide. Even with the current downturn of the economy, Elastic Path continues to hire and grow organically. Recently, the company was named in the Red Herring Top 100 list and #25 in PROFIT Magazine's fastest-growing companies.

"The 2009 Technology Impact Award winners and finalists reaffirm the breadth of BC's technology sector, delivering cross-cutting innovations that touch all sectors of the economy," said Pascal Spothelfer, President and CEO of BCTIA. "We congratulate these companies for their ingenuity, adaptability and particularly their resiliency in a challenging economic climate - they are all making a mark on the world." Elastic Path's global customers span different industries. They include major brands like Aeroplan, Samsonite, Avis, TELUS, and the Vancouver 2010 Olympics.

About BCTIA

The BC Technology Industry Association is British Columbia's leading member-based industry association that represents start-ups to established technology companies across the province. As the voice of the technology industry, the BCTIA is committed to the ongoing growth, sustainability and prosperity of the technology industry and the transformation of British Columbia to knowledge-based economy. BTIA delivers a broad range of programs and services that provide members with opportunities to connect, learn, and promote their businesses in BC. www.bctia.org

About Elastic Path

Elastic Path Software provides a flexible ecommerce platform that gives enterprises the capabilities and control to deliver innovation in a complex environment. The Java-based platform enables integration with SOA environments and rapid development of custom features. Enterprises can now quickly adapt ecommerce tactics to gain a competitive advantage. Companies such as Aeroplan, Time Inc., and Samsonite use Elastic Path for maximum control over their evolving online stores. For more information, please visit www.elasticpath.com.

Contacts:
Magnolia Marketing Communications - Media Contact
Phoebe Yong
Media Relations
604.760.3085
[email protected]

Elastic Path Software - Media Contact
Thao Ngo
604.408.8078 x.497
[email protected]
www.elasticpath.com

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