2009 Deloitte Technology Fast 50 announced

• Digital companies dominate the ranking
• Distribution Technology wins with 18,225 per cent growth rate
• 94% of the companies in the Fast 50 are confident they can sustain growth levels

Deloitte, the business advisory firm, today announces the results of its 2009 Technology Fast 50 awards, an independent ranking of the UK’s fastest growing technology companies. The average growth in turnover of a Deloitte Fast 50 technology company is 2,585 per cent* an increase from 2008 where the average growth was 2,177 per cent.

Companies in the 2009 Technology Fast 50 are confident, with 94% sure they can sustain their current level of growth and 56% with no plans to cut costs.

Deloitte Fast 50 2009 winner – Distribution Technology

The winner of the 2009 Deloitte Technology Fast 50 is Distribution Technology, it currently supplies a range of financial software products that enable qualified advisors to pinpoint key products and cross-sell others to customers faster and more efficiently. It works with 25 major financial services organisations in the UK. It fought off the competition with an amazing 18,225% per cent growth.

Distribution Technology Chief Executive, Ben Goss believes that this is only the tip of the iceberg: “Most large financial institutions are looking to engage with their customers across multiple channels not just face to face but over the phone and online too. Our technology is uniquely placed to support them in this. As we grow our relationships so we will grow our business!”

David Halstead, Partner leading the Deloitte Technology Fast 50, said: “In spite of the challenging financial market conditions, the 2009 Deloitte Fast 50 shows that stellar growth rates are still possible. The Technology Fast 50 awards are an opportunity for businesses to gain recognition for their successes and achievements over the previous 12 months.

“The importance of a company's relationship with its customers is clear - listening to feedback and providing an excellent service are crucial in achieving these impressive levels of growth through a turbulent time for the sector.”

Digital companies dominate

Digital service companies are thriving as the Web continues its advance into every aspect of modern life. They have overtaken software companies which last year dominated the ranking. In this year’s Deloitte Technology Fast 50, internet companies take 21 of the top 50 slots.

Heart Internet is the highest ranking internet company, in second place with an impressive 8,548 per cent growth rate. Based in the Midlands, the company provides hosting and domain name registration to individuals, SMEs and resellers, with the latter making up about 50 per cent of its customer base. One key trend has been an increase in new SME registrations during the recession, demonstrating the importance of the online market.

The increasing importance of a sophisticated online presence to businesses is demonstrated by the rise of digital marketing agencies in the 2009 Deloitte Fast 50 rankings, Auros, Bigmouthmedia, TH_NK, and TrafficBroker all rank highly. Companies increasing their digital marketing spend and the ability to demonstrate a quantifiable return on investment is argued to be key.

David Halstead said: “The 2009 Deloitte Fast 50 provides a fascinating view of the evolving structure of the UK's tech sector. The large number of internet and digital marketing companies in the 2009 Deloitte Fast 50 reflects the growing maturity of online enterprises. The importance of the web is clear and these companies have seen some impressive growth.”

Innovative biotech - Apatech

Biotechnology companies are in the minority in the Fast 50, with only two making the Fast 50. Apatech ranks in third place, a London-based biotech company which has seen a meteoric growth spurt in the last eighteen months, hitting a five-year growth rate of 8318 per cent. The company was spun out of Queen Mary, University of London research into synthetic bone graft technology in the 1990s. Apatech sells their products in over 25 countries and began construction of a $13m second manufacturing facility in June 2008, which will enable it to meet $300m of annual orders.

Mobile gambling software success – Probability Plc

Probability Plc, in fourth place develops and distributes mobile gambling software applications such as slot machines, caller bingo and lottery services direct to the consumer. Probability saw a 7,785% growth rate over the last five years. It cited mobile networks changing their business model in favour of data a couple of years ago, and customers increasingly searching for mobile content as key to their success.”

Home entertainment’s appeal – LOVEFiLM

LOVEFiLM which claims to be Europe’s fastest growing home entertainment portal achieve the fifth place slot, with a growth of 5694%. The company sees a lot of opportunity in the year ahead and the company has plans to launch a streamed direct-to-TV service, with launch scheduled for 2010.

Geographical split

The 2009 Deloitte Fast 50 shows a strong bias towards the capital, with sixteen of the Fast 50 headquartered in London, a further 12 companies are from south-east England. Cambridge remains a hotspot for technology growth, with five Fast 50 businesses in the area. The majority of successful online businesses were based in London. There are also four companies from the Midlands, four in the North, five from Scotland, four from the South West, and one from Northern Ireland.

- ENDS -

Notes

* Growth rates are all over the last five years.

Commentary, analysis and case studies (including regional) will be available at www.Fast50.co.uk

About Deloitte
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms. Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu (‘DTT’), a Swiss Verein, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk\about for a detailed description of the legal structure of DTT and its member firms. The information contained in this press release is correct at the time of going to press. For more For more information, please visit www.deloitte.co.uk.

Fast 50 entry criteria
To enter the Fast 50 awards a company must meet the following criteria;
1. The company must have been in business for a minimum of five years;
2. The company must be considered a technology company, which is defined as:
• producing technology
• manufacturing technology-related products
• be technology intensive, or use unique technology to solve problems
• devoting a high percentage of effort to technology R&D
3. The parent company must be UK-owned and have its headquarters in UK (subsidiaries of multinational organisations do not qualify);
4. Operating revenues must be at least £34,000 (50,000 Euros) for 2004 and £540,000 for 2008.

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