Marvel Technologies Posts Sharp Revenue Increase
NOVI (WWJ) — Marvel Technologies Inc., a provider of IT products and services, announced its mid-year financial results for the period ending June 30.
Year over year, the company said revenue rose 51 percent, and the company’s workforce increased by 30 percent.
A private company, Marvel Technologies does not release dollar values for its revenue and profitability figures.
Among the significant business news, Marvel Technologies’ FormsEz and CompEz were implemented at Peoples Natural Gas, a natural gas provider in Pennsylvania. The deployment of the SAP-certified add-on products has helped Peoples Natural Gas improve efficiencies and reduce costs. See a testimonial from Ruth DeLost-Wylie, CIO at Peoples Natural Gas.
“The implementation of our products at Peoples Natural Gas contributed significantly to our business growth,” said Bala Rajaraman, Marvel CEO. “We are investing more in product development to expand our offerings to customers in manufacturing, utilities and public sectors industries.”
Marvel Technologies, founded in 2006 and based in Novi, is a privately held, minority-owned technology company that develops and delivers professional services and solutions in support of SAP applications. The company is also certified by Women’s Business Enterprise National Council. It is an SAP software and technology partner in the SAP PartnerEdge program and a SuccessConsulting partner with SuccessFactors, an SAP company.