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Deloitte Technology Fast 50 Turkey program has been finalized

Mobilera Has Become Turkey's Fastest Growing Technology Company

Deloitte Technology Fast 50 Turkey program has been finalized. Having been established in 2001 and providing mobile solutions in Turkey by carrying out operations in Ukraine, Kazakhstan and Georgia, Mobilera has become the fastest growing technology company of Turkey with a growth rate of 6764% within 5 years. The second company in the list was Veripak with a growth rate of 2730% within five years, and the third company was Bizitek with a growth rate of 2717%.
Being held in many regions of the world to determine the fastest growing technology companies, Deloitte Technology Fast 50 evaluates the companies based on the growth in their net operating revenues within the past 5 years. To qualify for the program, the attendees must have an operating revenue of over  Euros 50.000  in the first year and Euros 800.000 in the 5th year and the company must be headquartered in Turkey. The winners of Deloitte Technology Fast 50, which took place in Turkey for the first time this year, will compete in Deloitte Technology Fast EMEA 500 program where the fastest growing 500 technology companies in EMEA region will be selected. Results of Deloitte Technology Fast EMEA 500 will be announced in a ceremony to be held in Paris on November 27th, 2006. The program includes companies from all segments of the sector such as software, Internet, computers, telecommunications, semiconductors/equipment.
Pointing out the high added value that the technology sector has provided to the economy, Deloitte Turkey Technology, Media and Telecommunication Industry Leader Oktay Aktolun stated that establishment and development of technology companies in Turkey should be supported. Aktolun added:  “We believe that Deloitte Technology Fast 50 Turkey program that we have conducted for the first time this year will be helpful in national and international promotion and encouragement of  the technology companies in our country. The program also provides an opportunity for the attendees to be noticed by national and international investors. Research will play an important role in drawing a healthy picture of the sector and determining what should be done in this field.” 
Aktolun stated that Mobilera, who achieved a growth rate of approximately 6800% in five years, is not alone, and that 15 percent of the attendees have grown over 1000% within the last five years. “Our program comprised companies that achieved extreme growth rates. In addition to the high growth rates of the technology sector achieved at the beginning, it is also essential to establish such structures that will ensure healthy and sustainable growth in the mid- and long-term. It is therefore a must for the companies to focus on this matter for the sustainability of their success. Having helped many companies in all segments of the technology sector to draw their paths towards sustainable and profitable growth, Deloitte provides companies with important opportunities with its vast experience in this field.”  

Top three companies
The top three companies ranked in Deloitte Technology Fast 50 Turkey 2006 recorded an average of 4070% growth in the last five years. The top three companies of the program is as follows:

1. Mobilera (6764% growth) – Mobilera is a technology company which provides enterprises and GSM users with mobile applications, projects and solutions through “integrated solutions” that combine GSM and IT technologies.

2. Veripak (2730 % growth) – Veripak is one of the software companies of Turkey, which provides e-business and mobile applications to its customers with its self-developed products.

3. Bizitek (2717 % growth) – Bizitek is a company with a customer and solution focused approach, which creates common values supported with the advanced technology and required by the business world and helps customers in different sectors to achieve their visions through various technologic solutions.

Growth rates
The companies’ growth rates achieved in 2005 are as follows: 
1000% and more – more than 15%
500% - 1000% - approximately 8%
250% - 500% - more than 15%
100% - %250% – approximately 30%
50% - %100% – approximately 20%
10% - %50% - more than 15%

Geographical Distribution of Winners
In the first year of Deloitte Technology Fast 50 Turkey program, undoubtedly, Istanbul produced the highest number of fast growing companies with 76%.
Istanbul – 76 %
Ankara – 18 %
Kocaeli – 3 %
Manisa – 3 %

Distribution of winners according to the industrial segments
Distribution of the fastest growing companies of this year based on industrial segments is as follows:
Software- 39%
Telecommunications – 18%
Computer – 8 %
Others  - 32 %

Revenue
Distribution of the companies ranked in the list based on 2005 revenues  is as follows:
30 million Euros and more – 11 %
10 million - 30 million Euros- 26%
5 million - 10 million Euros – 21%
2 million - 5 million Euros – 26%
2 million Euros and less – 16%

Research and Development Expenditures
Distribution of the companies ranked in the list based on 2005 R&D expenditures is as follows:
1 million - 8 million Euros – 17 %
500 thousand - 1 million Euros – 13%
100 thousand - 500 thousand Euros – 50%
100 thousand Euros and less – 20%

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