US-based integrated data-management specialist Phase Forward is gearing up for more growth by leasing over165,000sq ft of office space for new headquarters in its home base of Waltham, Massachusetts.

The company plans to move from its current location at 880 Winter Street to a state-of-the-art ‘green’ building, 77 CityPoint, in the fourth quarter of 2008. The new headquarters will be able to house some 350 additional employees as Phase Forward continues to expand its local staff base over the next four to five years.

As of the end of 2007, the company employed a total of 313 staff in Massachusetts state. Since moving to its current Waltham headquarters in 2003, Phase Forward’s revenues have more than doubled and its worldwide employee base has grown by more than 45%.

“Our high-calibre workforce has been key to our strong growth, so remaining in the Waltham area was a critical factor in recruiting and retaining employees and minimising commute times,” commented Phase Forward’s president and chief executive officer, Bob Weiler.

At the end of last month, the company reported that revenues for 2007 were up by 26% over the previous year to $134.3 million. Operating income was 39.6% higher at $13.0 million last year and net income more than doubled to $29.2 million.