Attributes its 897% Percent Revenue Growth to its software-centric approach and close collaboration with users
Saint-Laurent, Canada, November 8, 2007— Genetec today announced that it ranked Number 180 on Deloitte’s 2007 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America. Rankings are based on percentage of fiscal year revenue growth over five years, from 2002–2006. Genetec grew 897% percent during this period.
Genetec’s CEO, Mr. Pierre Racz, credits the fact that Genetec took a software-centric approach in a hardware-centric industry sector that was ripe for change and the fact that Genetec took the risk of transitioning its OEM business to a more direct model, thus getting closer to its customers, with the company’s 897% revenue growth over the past five years. He said, "Successful software design depends on close collaboration and interaction between a handful of talented software designers and an active user population."
"Deloitte’s Technology Fast 500 recognizes technology companies who have achieved extraordinary growth in North America’s most innovative and competitive sectors,” said Phil Asmundson, vice chairman, U.S. Technology, Media and Telecommunications, Deloitte & Touche USA LLP. "We congratulate Genetec on this significant accomplishment."
In addition to ranking on Deloitte’s Technology Fast 500, Genetec ranked 24 on the Canadian Technology Fast 50, which is a ranking of the 50 fastest growing technology firms in Canada.
Fast 500 Selection and Qualifying Criteria
The Fast 500 ranks the fastest growing technology, media, telecommunications and life sciences companies in North America. It is compiled from Deloitte’s 16 regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research. Companies are selected based on percentage revenue growth from 2002 to 2006.
Entrants must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues or devote a significant proportion of revenues to research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify. Base-year operating revenues must be at least $50,000 USD or $75,000 CD, and current-year operating revenues must be at least $5 million USD or CD. Companies must be in business a minimum of five years, and they must be headquartered within North America.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. Deloitte Touche Tohmatsu is an organization of member firms around the world devoted to excellence in providing professional services and advice, focused on client service through a global strategy executed locally in nearly 140 countries. With access to the deep intellectual capital of approximately 150,000 people worldwide, Deloitte delivers services in four professional areas—audit, tax, consulting, and financial advisory services—and serves more than 80 percent of the world’s largest companies, as well as large national enterprises, public institutions, locally important clients, and successful, fast-growing global companies. Services are not provided by the Deloitte Touche Tohmatsu Verein, and, for regulatory and other reasons, certain member firms do not provide services in all four professional areas.
About Genetec
Genetec, incorporated in 1997, is recognized as a pioneer in IP security solutions and a technology leader within the physical security industry. With headquarters in Montreal and offices in Europe, the Middle East, Japan, Southeast Asia, and the United States, Genetec provides a complete line of innovative IP security products. We develop software solutions to address three main applications: access control, video surveillance, and license plate recognition. Our success is built on our team of highly skilled individuals dedicated to the development of tomorrow’s cutting edge security technologies and our commitment to customer care. For more information, visit www.genetec.com.