Two Croatian companies, Croz and SedamIT, are among 50 fastest growing companies in technology sector in Central Europe. This is the first year that Deloitte organized the project in partnership with HUP in Croatia, while in CE region the project starterd nine years ago.

For the third straight year, the top position on Deloitte’s Central European Technology Fast 50 ranking goes to the Polish software developer and integrator Blue Media which generated stellar performance with 10,027 percent growth during the last five years. This year’s ranking consists of companies from nine countries: the Czech Republic, Hungary, Poland, Slovakia, Romania, Bulgaria, Croatia, Serbia and Estonia which is the most diverse in its history. On average, Fast 50 companies grew at the rate of 1,271 percent in the period from 2003 till 2007, which is the highest since the launch of the ranking. Croatian company CROZ won 3rd place thanks to annual growth rate of more than 4300 percent, while Sedam IT company won 25th place.

According to Faruk Muratović, Deloitte’s senior maganer, “software companies continue to dominate the competition taking 24 spots on the overall ranking; however, we can expect that internet  companies will close the gap next year as we see a lot of software applications being moved to the Internet and internet users are still significantly growing in Central Europe.”

In order for a company to be considered for the ranking it must meet a number of criteria, such as yearly revenues of at least EUR 50 thousand in each of the last five years (2003–2007), have headquarters in a Central European country, develop or manufacture proprietary technologies or spend a significant amount of capital on research & development, and have an ownership structure that excludes majority owned subsidiaries of strategic entities.

More information on the project: CE Technology Fast 50 

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