Actionbase selected as winner of Red Herring 100 Europe 2009

Tel Aviv, Israel – May 5, 2009 – ActionBase, a pioneer in Human Process Management Solutions (HPMS), today announced it was named a winner of the Red Herring 100 Europe 2009, an award given to the top 100 private technology companies based in the EMEA (Europe, Middle East and Africa) region each year.

“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.

ActionBase helps companies gain the visibility and control needed to manage, monitor and track unstructured processes, which are the majority of processes in any business. ActionBase recently announced ActionBase 6.0 that helps manage ad-hoc, unstructured, tacit processes for industries such as oil and gas, utilities, process manufacturing, finance and telecommunications. The new version includes enhancements for organizations to have better visualization capabilities, improved process management and enables anyone with e-mail to be included in the process, even if ActionBase is not installed.

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.

“Being recognized as a winner of the Red Herring 100 Europe confirms our innovation and effort to provide our customers with a solution that improves the quality of insight into their business processes such as audits, investigations, research and claims,” said Eyal Maor, CEO of ActionBase. “Our partners and customers are realizing the benefits of technology that solve the problem of unstructured, ad-hoc, tacit processes – leading to a huge cost savings for any business.”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 ActionBase

ActionBase is a leading provider of Human Process Management Solutions that enable businesses – over 150 Fortune 100 to Fortune 500 organizations worldwide – to manage their business critical processes. The company supports an ad-hoc and dynamic working environment by providing full visibility and control over unstructured processes that were previously managed via plain documents and e-mail correspondence. ActionBase works with global IT leaders including Orange, Texas Instruments and Amdocs, and specializes in complex industries such as Oil and Gas, Utility and Telecom. The company is headquartered in Israel with offices in the United States and United Kingdom. For more information, please visit www.actionbase.com.