Fourth Consecutive Year of Recognition as One of Canada’s Fastest Growing Companies
Ottawa, Ontario, November 13, 2013 – Solace Systems is named as one of Canada’s fastest growing technology companies in the Deloitte Technology Fast 50™ awards for technological innovation, entrepreneurship, rapid growth and leadership, based on the percentage of revenue growth over five years. Solace’s increase in revenues of 395 percent from 2008 to 2012 resulted in a ranking of 19th.
“Canadian Fast 50 companies innovate, demonstrate leadership, create jobs, and invest in R&D, ” said Richard Lee, Deloitte’s National Managing Partner, Technology, Media & Telecommunications. “They are remarkable companies that show dedication, drive and commitment that are key to growth in the Canadian technology sector.”
CEO Craig Betts attributes Solace’s 395 percent five year growth to the differentiation that companies in all industries experience when they effectively integrate, aggregate and distribute real-time information globally. “Our turnkey appliances help companies tackle the movement and distribution of big data head on, ” said Betts. “We enable our customers to not just keep up with but capitalize on rising data volumes so they can make smarter decisions, more quickly introduce innovative new services, and better serve their customers.”
Now in its 16th year, the Deloitte Technology Fast 50™ program recognizes leaders in the Canadian technology industry and tracks the successful growth of Canadian-grown global leaders. The program augments the broader Deloitte North American Technology Fast 500™ initiative, with winners automatically eligible for this elite ranking.
To qualify for the Deloitte Technology Fast 50™ ranking, companies must have been in business for at least five years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, and conduct research and development activities in Canada. A panel of industry experts evaluate and judge companies based on four key criteria: competitive advantage; size, growth, and market attractiveness; management effectiveness and organization; and financial performance.
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About the Deloitte Technology Fast 50™
The Deloitte Technology Fast 50™ program is Canada’s pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features four distinct categories including the Technology Fast 50™ Ranking, Companies-to-Watch Awards (early-stage Canadian tech companies in business less than five years, with the potential to be a future Deloitte Technology Fast 50™ candidate, ) Leadership Awards (companies that demonstrate technological leadership and innovation within the industry) and the Deloitte Technology Green 15™ Awards (Canada’s leading GreenTech companies that promote a more efficient use and re-use of the earth’s resources in industrial production and consumption.) Program sponsors include Deloitte, Bennett Jones and OMERS Ventures. For further information, visit www.fast50.ca.