Western Australian company UTS Navigation Systems (trading as Digital Technology International) – a designer and manufacturer of advanced digital surveillance solutions for a range of mobile applications - has been named Australia’s fastest growing technology company in the 2003 Deloitte Technology Fast 50, achieving three year revenue growth of 1,406%.
The Deloitte Technology Fast 50 ranks the fifty fastest growing technology companies in Australia, public or private, based on percentage revenue growth over three years (2000 to 2002).
The Deloitte Technology Fast 50 is part of a global program which ranks over 1250 companies around the world covering all related industry sectors - software, internet, computers & peripherals, life sciences, communications, semiconductors, components & electronics.
Leader of the Deloitte Technology, Media and Telecommunications group, Mr Ian Thatcher said, “For UTS Navigation Systems to achieve average revenue growth of 1,406% during three of the toughest years in the tech sector is admirable.”
“Notwithstanding the average revenue growth of the 50 companies was 299%, down from last year’s average of 478%, it will be interesting to see if we are at the bottom of the cycle.”
“Despite technology spending being slashed and fierce competition for the limited technology dollar, these companies have succeeded by combining world-class innovation and robust business models.”
“The Holy Grail for any technology company is sustaining rapid growth and innovation over a long period. Companies that can do this tend to deeply penetrate their target markets. Four companies have achieved this attaining Deloitte Technology Fast 50 status for a third year running – CDS Technologies, Protocom Development Systems, PieNetworks and Infomedia – a brilliant achievement.”
“As the majority of Deloitte Technology Fast 50 companies are seeking to expand into Asia, Europe and the US, Australia’s reputation as a technology innovator will continue to grow.”
“Technology innovation and commercialisation in regional Australia is alive and well – 24 companies from the 2003 Deloitte Technology Fast 50 are from outside Sydney and Melbourne.”
“I congratulate the Western Australian technology community, achieving four of the top ten positions, including number one,” Mr Thatcher said.
Top five companies
The top five companies in the 2003 Deloitte Technology Fast 50 achieved average growth of 1,038 per cent over the three years. The top five companies are:
1. UTS Navigation Systems [trading as Digital Technology International] (1,406% growth) - a Western Australian company focused on advanced digital surveillance solutions for a range of mobile applications.
2. Amcom Telecommunications Limited (1,061% growth) - a Western Australian based broadband solutions provider.
3. KEE Technologies (969% growth) - a South Australian based developer and manufacturer of electronic controlling and monitoring systems for agricultural cropping.
4. Empired Limited (951% growth) - a Western Australian based developer of online recruitment systems.
5. Hitwise Pty Limited (802% growth) a Victorian based online activity intelligence provider.
Rising Star Award
Each year as part of the Deloitte Technology Fast 50 program, a Rising Star award is given to a company in each state that may not meet all of the eligibility criteria but who are making a name for themselves through the development and commercialisation of highly innovative technology. A National award is then given the brightest Rising Star
This year’s National and Victorian Rising Star Award goes to Electronic Recharge Pty Limited (trading as Ezipin). Ezipin's core business is the provision of electronic delivery solutions for e-commerce initiatives. The total focus is Prepaid Telecommunications recharge services. Ezipin offers a vertically integrated transaction-processing infrastructure that links Suppliers, Retailers and Financial Institutions in an end-to-end distribution process. For more information visit: www.ezipin.com.au.
State Rising Star awards:
NSW - Xpertcorp.com Pty Limited (trading as Xpertcorp™) – www.xpertcorp.com
SA - Beonic Pty Limited – www.beonic.com
WA – Fractal Technologies – www.fractaltechnologies.com
QLD - Fuzion Pty Limited – www.fuzion.com.au
Deloitte Growth Solutions partner, Julia Bickerstaff, said “The quality of the nominations for the Rising Star Awards continue to impress me.”
“The quality and number of Rising Star nominations is an indication of the positive future that lies ahead for the Australian technology industry,” she said.
“Many of these budding technology companies have received much-needed assistance from Government and industry schemes to help them commercialise their technology and start to make a name for themselves.”
“With careful management of their growth cycle these companies could soon be ranked among Australia’s fastest growing technology companies.”
“I expect the market to closely watch the Rising Stars closely over the next couple of years, “ said Ms Bickerstaff.
Winners by state
Victoria had the highest representation in this year’s Deloitte Technology Fast 50 with 14 companies.
ACT – 2
QLD - 2
NSW - 12
WA - 11
SA - 8
TAS - 1
VIC - 14
Industry segments
This year’s fastest growing technology companies came from the following industry segments:
Software - 21 companies (42%), Internet - 12 companies (24%), Communications - 5 companies (10%), Life Sciences - 4 companies (8%), Computers & Peripherals - 4 companies (8%), Semi Conductors, components & electronics - 2 companies (4%), Other - 2 companies (4%).
Revenue levels
|
|
2003
|
2002
|
2001
|
|
Greater than $20m
|
6
|
12
|
13
|
|
Between $10m - $20m
|
9
|
8
|
10
|
|
Between $5m - $10m
|
16
|
10
|
7
|
|
Between $1m - $5m
|
19
|
20
|
20
|
|
Total
|
50
|
50
|
50
|
Other key facts
|
|
2003
|
2002
|
2001
|
|
Average 3yr revenue growth
|
299%
|
478%
|
294%
|
|
Revenue growth of top 10
|
794%
|
531%
|
545%
|
|
Highest growth rate
|
1,406%
|
5,143%
|
2,173%
|
|
No. of companies that made the Technology Fast 50 in the prior year
|
22
|
16
|
N/A
|
|
No. of companies that made the Technology Fast 50 three years running
|
4
|
N/A
|
N/A
|
|
Percentage of private companies
|
58%
|
48%
|
50%
|
Deloitte Technology Fast 50 Report
For further information:
Ian Thatcher
Leader, Technology, Media and Telecommunications
Deloitte Touche Tohmatsu
Tel: 02 9322 7640
e-mail: ithatcher@deloitte.com.au
Alison Davies
Media and Communications Manager
Deloitte Touche Tohmatsu
Tel: 02 9322 7731
Mobile: 0410 579 984
e-mail: alidavies@deloitte.com.au
