Web Hosting Applications Firm, Parallels, Named Red Herring 100 Award Finalist

Renton, Washington - (The Hosting News) - April 23, 2008 - Server virtualization firm, Parallels, has garnered the distinction of being named a finalist, in the Red Herring 100 Awards' selection of the most innovative private technology companies based in North America.

Joel Dreyfuss, Editor-in-Chief of Red Herring noted, ''We can see the exciting evolution of the technology sector reflected in the quality and variety of exceptional companies that we had to choose from in putting our list together. It was tough to choose just 200 finalists from such a large list of excellent contenders, and we are very happy with the quality of the companies we selected as finalists.''

In preparation for the formal announcement of its Top 100 Award, the Red Herring editorial board diligently surveyed the entrepreneurial scene throughout the North American region and identified the top 200 out of more than 800 closely evaluated companies that are leading the next wave of innovation.

Evaluations were made on both quantitative and qualitative criteria such as financial performance, innovation, management, strategy, and ecosystem integration.

According to Red Herring, Parallels is on the list due to its innovative and entrepreneurial achievements. The 100 winning companies will be announced at the Red Herring North America event, May 12-14, in San Jose, California. The event attracts leading entrepreneurs, financiers and corporate strategists. More information about this event can be found at http://herringevents.com/northamerica08/index.html.

Red Herring is a global media company which combines 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.

Parallels (formerly SWsoft) is a worldwide leader in virtualization and automation software that optimizes computing for consumers, businesses, and service providers across all major hardware, operating systems, and virtualization platforms. Founded in 1999, Parallels is a fast-growing company with 900 employees in North America, Europe, and Asia.

To learn more information about Red Herring, please visit: www.redherring.com.

For more information about Parallels, please visit: www.parallels.com.

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