Average growth rates highest since Fast 500 began in 2001, confidence high despite economic uncertainties

The UK has the most ranked companies with 91, closely followed by France with 68.

• Israeli firms take first, second and third place.
• Average five-year revenue growth for all companies is 1443 percent, the highest since the awards began.
• Survey of Fast 500 CEOs reveals that 79.5% of this year’s CEOs were extremely or very confident of managing the same growth rates over the coming two years.

Eighteen Irish companies have achieved a ranking in the Deloitte Technology Fast 500 EMEA.  The Fast 500 ranks public and private technology companies from 21 countries in EMEA with a minimum revenue of €50,000 in year one. It is the most objective industry-ranking standard to focus on the technology sector. The Fast 500 is researched by Deloitte’s Global Technology, Media & Telecommunications (TMT) Practice.

PulseLearning, this year’s winner of the Irish Fast 50, has achieved 51st place in the ranking.
Zamano and Digiweb, who placed 2nd and 3rd in the Irish competition, achieved 74th and 77th positions in the overall EMEA ranking.

David O’Flanagan, Partner, Deloitte Ireland said: “Proportional to population numbers, Irish technology firms have performed impressively in this year’s EMEA ranking – and it is a great testament to the industry in Ireland that we have such a strong presence.”

Key trends observed in this year’s Fast 500 are:

The software sector continues to dominate the ranking, making up 200 of the 500 companies. 

The Fast 500 growth figures have identified Ireland, along with Norway, Israel, Sweden, Finland and Holland as being countries in which technology businesses are much more likely to succeed. High-growth technology firms in these countries are between 2 and 5 times more common than anywhere else in the region.

While the Deloitte Technology Fast 500 EMEA shows a consistent increase in average growth rates year on year, this is in stark contrast to that of the North American Fast 500, where average growth rates have been falling since 2001. Fast 500 North America shows average five year revenue growth rates falling from a peek of 6,772% in 2002 to 1,823% in 2007.

Top Five Ranked Companies in the 2007 Deloitte Technology Fast 500 EMEA

1 Voltaire Ltd Israel 50,612% Server switches and software
2 Celltick Technologies Ltd Israel 29,627% Mobile content solutions
3 Runcom Technologies Ltd Israel 27,950% Mobile delivery platforms
4 TomTom International N.V. Netherlands 17,193% Satellite navigation solutions
5 Bybox Holdings Ltd UK 15,272% Smart delivery solutions

Deloitte Technology Fast 500 EMEA CEO survey

Deloitte is also announcing the 2007 Deloitte Technology Fast 500 EMEA CEO Survey - a comprehensive analysis of the business trends and background statistics of the winning companies and a summary of the key concerns and expectations of technology sector CEOs. Some of the key trends are:

• Despite wider economic turbulence, confidence is high. 79.5% of this year’s CEOs were extremely or very confident of managing the same growth rates over the coming two years, which is the second highest level in seven years.
• Good technology people are becoming harder to come by. Finding, hiring and retaining qualified employees is the greatest operational challenge for just under half of CEOs, significantly up on previous years.
• Offshoring of key functions is on the cards. While 13.4% of firms currently employ over 15% of their workforce abroad, CEOs see this figure rising to 46.6% within 5 years.

“The current financial turbulence and economic uncertainty does not appear to have made the front-runners in the technology race in EMEA either slow their pace or lose their focus,” said Igal Brightman, Global Managing Partner of Deloitte’s Technology, Media & Telecommunications (TMT) Industry group. “These businesses are successfully managing exponential growth and, in particular, finding the right people in the right places to drive that growth.”

“This is the seventh year of the ranking in Europe, the Middle East and Africa, and the more data we have the more interesting trends emerge,” said Eric Morgain, Deloitte’s Partner in charge of the Deloitte Technology Fast 500 EMEA. “The UK led again this year in terms of overall numbers, closely followed by France. But we are also seeing a club of technology acceleration nations emerging, which includes Israel, Scandinavia, Ireland and the Netherlands – where successful technology businesses are many times more likely to succeed.”
Notes 

Deloitte Technology Fast 500 EMEA CEO Survey 2007
This report is a comprehensive analysis of the business trends and background statistics of the winning companies as well as a summary of the key concerns and expectations of sector CEOs. It can be downloaded from www.deloitte.com/fast500emea.

About The Deloitte Technology Fast 500 EMEA
The Deloitte Technology Fast 500 EMEA programme is the region’s most objective industry-ranking standard to focus on the technology field.  It was created in 2000 to recognize the effort and dedication of the 500 fastest-growing technology companies in EMEA and includes all areas of technology, from Internet to biotechnology, from medical and scientific to computers/hardware.  It includes both public and private companies. The awards, which have been running in EMEA for seven years, are based on five-year average percentage revenue growth. Frequently asked questions are answered on www.deloitte.com/fast500emea.  Details of the winning companies including breakdowns by country, industry sector and ranking will be available at www.deloitte.com/fast500emea after the event, or please contact us (see below) if you need information in advance.  This year the program has been supported by UK Trade & Investment.

About Deloitte Technology, Media & Telecommunications (TMT)
The Deloitte Touche Tohmatsu (DTT) Technology, Media & Telecommunications (TMT) Industry Group consists of the TMT practices organized in the various member firms of DTT and includes more than 5,000 member firm partners, directors and senior managers supported by thousands of other professionals dedicated to helping their clients evaluate complex issues, develop fresh approaches to problems and implement practical solutions. There are dedicated TMT member firm practices in 45 countries and centres of excellence in the Americas, EMEA and Asia Pacific. DTT’s member firms serve nearly 90 percent of the TMT companies in the Fortune Global 500. Clients of Deloitte’s member firms’ TMT practices include some of the world’s top software companies, computer manufacturers, wireless operators, satellite broadcasters, advertising agencies and semiconductor foundries – as well as leaders in publishing, telecommunications and peripheral equipment manufacturing.

About Deloitte

In Ireland, Deloitte is among the nation’s leading professional service firms, providing audit, tax, consulting and financial advisory services through more than 1,000 people in Dublin, Cork and Limerick. Known as an employer of choice for innovative human resources programmes, it is dedicated to helping its clients and its people excel. “Deloitte” refers to Deloitte & Touche and any associated partnerships and companies established under the laws of Ireland. Deloitte is the Irish member firm of Deloitte Touche Tohmatsu. For more information, please visit the Irish member firm’s website at www.deloitte.com/ie.

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