Severa Secures Red Herring 100 Europe 2009 Award

BERLIN--(Marketwire - April 9, 2009) - Severa, Scandinavia's leader in professional services automation and project management tools, today announced that Red Herring named Severa a winner of the Red Herring 100 Europe, an award given to the top 100 private technology companies based in the EMEA (Europe, Middle East and Africa) region each year. Severa is a leading SaaS application that manages projects, customers and billings for small to medium sized enterprises.

"We are extremely pleased to receive an award from Red Herring that acknowledges the accomplishments we have made as a company during the last year," said Ville Kuusela, COO of Severa Plc. "It makes us thrilled to realize that more than 6,000 Severa users enjoy our innovative approach in managing projects, improving time-tracking and automating billing processes in their daily operations."

"During a difficult year, Red Herring still received an impressive list of submissions from companies across the EMEA region, clearly demonstrating Europe's role as a major center of innovation in the global technology sector," said Red Herring Managing Director, Farley Duvall. "The exceptional accomplishments of European technology startups and entrepreneurs are a testament to the rapid advancements being made in building the European innovation ecosystem."

Red Herring's lists of top private companies are an important part of the publication's tradition of identifying new and innovative technology companies and entrepreneurs. Companies like Google, eBay, and Skype were spotted in their early days by Red Herring editors, and touted as leaders that would change the way we live and work.

Red Herring's editorial staff rigorously evaluated several hundred private companies through a careful analysis of financial data and subjective criteria, including quality of management, execution of strategy, and dedication to research and development.

Red Herring has honored the Red Herring 100 Europe Finalist companies at its Red Herring Europe 2009 Conference, which was held March 31-April 2, at the Berlin Radisson Hotel. This intimate, 2 1/2 day event explored how European firms are leading the charge in many technology sectors, gaining a competitive advantage, and driving entrepreneurial success in ways that create business opportunities for challengers and incumbents alike.

About Red Herring

Red Herring is a global media company which unites the world's best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine, an online daily technology news service, technology newsletters and major events for technology leaders around the globe. Red Herring provides an insider's access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy. More information about Red Herring is available on the Internet at www.redherring.com.

About Severa Plc.

Severa Plc. is a leading provider of SaaS-based professional services automation designed to take the pain out of project management for small to medium sized organizations. Severa 3 is offered as an online application that reduces implementation time and is fully customizable to fit into various verticals including design agencies, IT consulting, law firms, engineering houses and architecture firms. Severa's transparency into project data helps communicate business objectives, optimize resource allocation and reduce revenue leakage. Severa has received the Red Herring Global 2008 Winner Award. For more information on Severa Plc. visit www.severa.com.

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Contact Information: Press Contacts: USA: Victor Cruz Principal MediaPR.net vcruz@mediapr.net Tel: (401) 349-3369 Finland: Karoliina Caforio Severa Communication Manager karoliina.caforio@severa.com +358 45 127 5352