Oakville, November 14, 2012 — Geotab is named as one of Canada’s fastest growing technology companies in the 15th annual Deloitte Technology Fast 50 awards, The Fast 50 program recognizes the 50 fastest growing technology companies in Canada, based on the percentage of revenue growth over five years. Geotab's increase in revenues of 464 percent from 2007 to 2011 resulted in the 18th ranking spot.
“Canadian Fast 50 companies innovate, demonstrate entrepreneurship, create jobs, and invest in R&D,” said Richard Lee, National Leader, Technology, Media& Telecommunications Industry Group, Deloitte. “Geotab is an example of a company that shows passion, determination and drive that are so important for growth in the Canadian technology sector.”
Geotab's CEO Neil Cawse credits the company's team focus on numerous differentiators, including circuit board design, embedded firmware or application software with the company's 464 percent revenue growth. Cawse said, “Our success is a complete team effort from our front office administration team through product development and sales and support to production. Everyone at Geotab is committed and focused on making a difference in the world through our leading M2M telematics technology.
“Now in its 15th year, the Deloitte Technology Fast 50TM 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 50TM 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.
About the Deloitte Technology Fast 50TM
The Deloitte Technology Fast 50TM 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 50TM 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 50TM candidate,) Leadership Awards (companies that demonstrate technological leadership in four industry subcategories: hardware/semiconductor, software, telecommunications and emerging technologies) and the Deloitte Technology Green 15TM 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, Gowlings, Wellington Financial, TMX Group, HUB International HKMB, National Angel Capital Organization, CVCA, MaRS and IGLOO Software. For further information, visit www.fast50.ca