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LiveSport and Internet Shop Ranked Again Among the Top Ten Fastest-Growing Technology Firms in Central Europe

"Eight out of ten CEOs of technology companies want to achieve business success through organic growth the following year,"

- Zdeněk Křížek,
partner in the ICT advisory and risk management department of Deloitte

Prague, 25 October 2012 – Like last year, the internet network provider LiveSport has become the fastest growing technology company in the Czech Republic. Internet Shop retained its second position and the software producer GEM System made it to the third place, based on the current Technology Fast 50 ranking, consisting of 50 fastest-growing technology companies in Central and Southeast Europe.

The 13th annual ranking which is prepared by Deloitte is based on a comparison of companies' revenues within the last five years. This year's ranking involves companies from eight countries, including the Czech Republic, Estonia, Lithuania, Hungary, Poland, Romania, Slovakia and Serbia.

"More than a half of the technology companies in the ranking (27 companies) focus on software development, a third (17 companies) on internet services. The entire ranking included only three companies from the telecommunications and networks sector and one from the media and entertainment sector," said Ladislav Šauer, audit director at Deloitte.

"Eight out of ten CEOs of technology companies want to achieve business success through organic growth the following year. Growth will be driven by high-quality, qualified employees. Two thirds of the CEOs see the potential for growth in the area of cloud computing, half of the CEOs see it in the focus on business software. Less than a third of the CEOs bet on social networks," says Zdeněk Křížek, partner in the ICT advisory and risk management department of Deloitte.

"Retaining the second position among Central European technology elite is an honour for us and we appreciate such acknowledgement of our work," commented Martin Hájek, statutory executive of LiveSport. "Our growth was driven by our success in the area of sports results websites which have been appreciated on a number of European markets. Retaining last year's position in Deloitte's ranking will support our team's effort of expanding to new markets, predominantly in North and South America," added Hájek.

The Romanian internet airline ticket retailer retained its position of the fastest-growing technology company in Central Europe, with a revenue growth of 17,323% over the past five years. This year, the average growth of companies in the Technology Fast 50 ranking decreased slightly from 1,068% to 1,026%. For nearly one half of the companies in the ranking (23 companies), 2012 was the first year in which they were included in the ranking. Poland had the highest representation in the ranking (27 companies), followed by Hungary (8 companies), Romania (6 companies) and the Czech Republic (5 companies). This year, the "Rising Stars" category was dominated by Polish technology firms, topped by Netwise with a revenue growth rate of 641% in the last three years (2009 – 2011).

The winner of the "Big 5" category is the Czech firm Internet Shop, which operates the e-shop. The second position was taken by the Romanian software company S.C. Teamnet International and the Polish internet company placed third.

"We appreciate our success in the Big 5 category even more than the awards received in the previous years, since it is obvious that maintaining the growth rate from certain revenue amounts is no longer as easy as starting with zero. It is a great advert for our employees, as well as a proof that even a small Czech firm that started from scratch can achieve such a significant success. This year's current results have been suggesting that our growth rate will be interesting even in 2012," added Michal Zámec, founder and statutory executive of Internet Shop.

About the Ranking

The Technology Fast 50 ranking evaluates the fastest-growing technology companies based on their revenue growth over a five-year period. Companies register for possible inclusion in the rankings via the following website: The criteria for the participants and the rankings' rules can also be found on the website. In the 2012 ranking, revenues for the period from 2007 to 2011 were analysed.

Main Category

In order for a company to be considered eligible for the Technology Fast 50 ranking, it must meet the following criteria:

  • Annual revenues of at least EUR 50,000 in each year (ie 2007 – 2011);
  • Have its headquarters in one of the following Central European countries: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Macedonia, Moldavia, Montenegro, Poland, Romania, Serbia, Slovakia or Slovenia;
  • Develop or manufacture proprietary technologies or spend a significant amount of capital on research & development; and
  • Have an ownership structure that excludes majority-owned subsidiaries of strategic entities.

Winners are then selected based on ranking eligible registrants by revenue growth over a five-year period, ie this year from 2007 to 2011.

Rising Stars Category

In the "Rising Stars" category, Deloitte ranks "young" companies that show great potential but are too new to meet the minimum of five years in operation criteria for the main category. Eligible companies must be in operation between three and five years and have to exceed revenues of EUR 30,000 in each of the last three years (2009 – 2011). Otherwise the same criteria apply as for the main Technology Fast 50 ranking.

Big 5 Category

The "Big 5" category ranks large fast-growing companies that have achieved extraordinary growth in the previous five years. To be eligible, companies must meet the same criteria as the main Fast 50 ranking with the exception of annual revenue in the final measured year (2011), which must exceed EUR 25 million for this category.

More information about the entire Technology Fast 50 project is available at


About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee and its network of member firms, each of which is a legally separate and independent entity. Please see for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.

Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte's approximately 182,000 professionals are committed to becoming the standard of excellence.

© 2012 Deloitte Czech Republic


Lukáš Kropík
Deloitte Czech Republic
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PR Manager
+420 775 013 139


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