Ireland has achieved 24 places in the Deloitte Technology Fast 500 EMEA ranking which is announced today, Wednesday, November 26th. This ranks public and private technology companies from 23 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) Group.

“This year sees another steady performance by Irish companies in the Fast 500 listing which is very encouraging to see, particularly given the more challenging circumstances,” said David O’Flanagan, Partner, Deloitte Ireland. “In what is a highly competitive industry, Ireland is more than holding its own with its European counterparts which bodes well for the future success of the Irish technology industry.”

Seventeen of the Irish companies are from the Republic of Ireland and 7 are from Northern Ireland. Lincor Solutions, this year’s winner of the Irish Fast 50 has achieved 35th place in the ranking. Zamano and iSite, who were placed 2nd and 3rd in the Irish competition, were ranked at numbers 96 and 105 respectively in the EMEA listing. Northern Ireland’s top ranking company was Unitas Software at position 303.

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

• The software sector continues to dominate the ranking, making up 197 of the 500 companies. This is followed by Internet/Media with 98 and Telecommunications/Networking with 64;

• The environment is playing an increasingly important part in the operations of EMEA companies with waste reduction through reduce, reuse and recycle generating the largest following among those surveyed at 21%. However, 19% of respondents admitted they are doing nothing at all to address environmental concerns. This was in contrast to the Asia-Pacific region where only 12% said they are not yet implementing programs to protect the environment; and

• The Deloitte Technology Fast 500 EMEA shows a decrease in average growth rates over the prior year with the Top 500 growing by 1,297% in 2008 compared to a record-breaking 1,443% last year which is still impressive in this turbulent economy.

Top Five Ranked Companies in the 2008 Deloitte Technology Fast 500 EMEA            

Deloitte Technology Fast 500 EMEA CEO Survey 

Deloitte is also announcing the 2008 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. 58% of this year’s CEOs were “extremely” or “very confident” of managing the same growth rates over the coming two years, which is lower than last year’s 78%, however this year more CEOs recorded being “somewhat confident” than last year with the number increasing from 20% to 37% in 2008;

A large number, 37% of CEOs surveyed have not yet experienced a significant impact from the downturn in the global economy. However, 30% responded that they are reviewing their strategy in light of recent economic conditions; and

Good technology people are still hard to find. Finding, hiring and retaining qualified employees is still the greatest operational challenge for 42% of CEOs, similar to last year.

"The financial tsunami isn't slowing or diverting top EMEA tech leaders’ attention," says Igal Brightman, Global Managing Partner of Deloitte’s Technology, Media & Telecommunications (TMT) Industry group. "These growth companies continue to maintain an optimistic outlook and remain focused on developing talent and innovating themselves"

“After 8 years of examining the data that underpins the EMEA region ranking, the more telling trends are beginning to emerge”, said Karel Bakkes, Deloitte’s Partner in charge of the Deloitte Technology Fast 500 EMEA. 'France remains a frontrunner in terms of overall numbers, followed by the UK, but hard on their heels are the emerging tech club of Israel, Scandinavia, Ireland and the Netherlands.”

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Notes

Deloitte Technology Fast 500 EMEA CEO Survey 2008
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.  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 6,000 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.

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