Deloitte

October 20, 2009 08:00 ET

50 Canadian Companies Named to the 2009 Deloitte Technology Fast 500™

Canadian representation increases, as companies return to basics amid recession

TORONTO, ONTARIO--(Marketwire - Oct. 20, 2009) - A total of 50 Canadian technology companies are being honoured today in the 2009 Deloitte Technology Fast 500™, a ranking of the fastest-growing North American technology, media, telecommunications and life-sciences companies, based on percentage revenue growth over five years.

At #12 on the list, Montreal-based ProSep, an oil and gas process equipment company, leads the parade of Canadian Fast 500™ ranked companies with an 18,070% five-year revenue growth rate. ProSep also ranked first on the 2009 Deloitte Technology Fast 50™ ranking in Canada, and emerged as this year's triple threat by securing its second, consecutive spot on the Technology Green 15™, as well as a Leadership Award - a first for any Quebec company - announced on October 1, 2009.

"The Deloitte Technology Fast 500™ identifies some of the most promising technology companies in North America today," said John Ruffolo, national leader, Technology, Media & Telecommunications, Deloitte Canada. "The performance of Canadian companies over the past year this year is a reflection of the survival instincts and unshakable entrepreneurial spirit of our country's technology leaders. If this is how we perform amid a recession, I can only imagine how well we can do in full recovery mode."

Top five-ranked Canadian companies break the top 50

The top five-ranked Canadian companies on this year's Technology Fast 500™ are:

- #12 - ProSep (18,070 % growth), a publicly-traded Montreal, Quebec-based oil and gas process equipment company. This is their first appearance on the Technology Fast 500 ranking and they lead the Fast 50 2009 ranking.

- #38 - Impact Mobile (5,508% growth), a privately-held Toronto, Ontario-based mobile marketing solutions company. Their Fast 500 2008 ranking was #89 and they came in 5th in the Fast 50 2009 ranking.

- #44 - Vision Critical (4,626% growth), is a privately-held Vancouver, British Columbia-based software company that develops interactive research. Their Fast 500 2008 ranking was #54 and they came in 6th in the Fast 50 2009 ranking.

- #45 - Creaform (4,338 % growth) is a privately-held Levis, Quebec-based 3D imaging software company. Their Fast 500 2008 ranking was #200 and they came in 7th in the Fast 50 2009 ranking.

- #48 - Allegro Mobile Solutions (4,157% growth) is a privately-held Mississauga, Ontario-based enterprise mobility solutions company. This is their first appearance on the Technology Fast 500 ranking, and they came in 8th in the Fast 50 2009 ranking.

"It's encouraging to see many more Canadian technology companies included in the North American Fast 500™ ranking compared to some of the U.S.'s most prominent technology hubs," observes Ruffolo. "This is a testament not only to Canadian technology leadership, but also to the world-class talent and entrepreneurial spirit that continues to fuel the industry despite its current venture capital crisis," concluded Ruffolo.

Sector Trends

The software sector comprised 38 percent of the overall list with 189 companies, followed by communications/networking (16 percent), biotechnology/pharmaceuticals (13 percent) and internet (9 percent). Medical equipment, scientific/technical instrumentation, computer/peripherals, semiconductors, media/entertainment and clean technology companies rounded out the remaining 24 percent.

However, no software companies cracked the top 10. Biotechnology and pharmaceutical companies made the strongest showing in this elite group, capturing four of the top 10 spots. There are 67 biotechnology and pharmaceutical companies on the full list and these companies recorded an average overall growth rate of 4,549 percent, the highest overall growth rate of any sector.

Economic factors impact the average growth rate

The average growth rate for Deloitte's Technology Fast 500™ fell by 720 percent to 2,486 percent in 2009, from 3,206 percent in 2008. The 10-year high was recorded in 2002, when the overall average growth rate was 6,772 percent. The 10-year low was in 2007 with average growth of 1,823 percent.

"The winning companies are not immune to the economy and their success in the challenging economic environment is truly impressive," said Ruffolo. "As the economy eventually recovers, we expect the average growth rate to increase."

Top ranked North American technology company posts 146,050 percent growth

ReachLocal, a global provider of localized internet solutions, achieved the coveted top spot on the list with 2008 fiscal year revenue of $146.69 million US and a whopping five-year fiscal growth rate of 146,050 percent. The company is privately held and based in Woodland Hills, California.

50 Canadian companies ranked in the 2009 Deloitte Technology Fast 500™



----------------------------------------------------------------------------
Rank Company City Prov. 5-yr % Primary Industry
Name Growth
----------------------------------------------------------------------------
12 ProSep Montreal QC 18,070% Scientific/Technical
Instrumentation
----------------------------------------------------------------------------
38 Impact Mobile Toronto ON 5,508% Communications/Networking
----------------------------------------------------------------------------
44 Vision Critical Vancouver BC 4,626% Software
----------------------------------------------------------------------------
45 Creaform Levis QC 4,338% Scientific/Technical
Instrumentation
----------------------------------------------------------------------------
48 Allegro Mobile Mississauga ON 4,157% Communications/Networking
Solutions
----------------------------------------------------------------------------
51 Corinex Vancouver BC 3,863% Communications/Networking
Communications
Corp.
----------------------------------------------------------------------------
55 Nightingale Markham ON 3,376% Software
Informatix
----------------------------------------------------------------------------
82 PNI Digital Vancouver BC 2,135% Software
Media
----------------------------------------------------------------------------
90 SCI Markham ON 2,052% Software
----------------------------------------------------------------------------
103 ARISE Waterloo ON 1,750% Scientific/Technical
Technologies Instrumentation
----------------------------------------------------------------------------
106 GuestLogix Inc. Toronto ON 1,680% Software
----------------------------------------------------------------------------
115 Sandvine Waterloo ON 1,466% Software
----------------------------------------------------------------------------
118 DragonWave Inc. Kanata ON 1,406% Communications/Networking
----------------------------------------------------------------------------
160 Research In Waterloo ON 911% Communications/Networking
Motion
----------------------------------------------------------------------------
171 BTI Systems Ottawa ON 787% Communications/Networking
----------------------------------------------------------------------------
175 TelcoBridges Boucherville QC 778% Communications/Networking
----------------------------------------------------------------------------
178 NetShelter Thornhill ON 762% Internet
Technology
Media
----------------------------------------------------------------------------
183 ViXS Systems Toronto ON 739% Semiconductor
Inc.
----------------------------------------------------------------------------
194 March Networks Kanata ON 701% Computers/Peripherals
Corporation
----------------------------------------------------------------------------
222 Grey Island Toronto ON 607% Communications/Networking
Systems
International
Inc.
----------------------------------------------------------------------------
224 Averna Montreal QC 594% Communications/Networking
----------------------------------------------------------------------------
234 BlueCat Toronto ON 567% Software
Networks Inc.
----------------------------------------------------------------------------
250 WellPoint Calgary AB 537% Software
Systems Inc.
----------------------------------------------------------------------------
256 Serenic Edmonton AB 522% Software
Corporation
----------------------------------------------------------------------------
259 RuggedCom Inc. Woodbridge ON 514% Communications/Networking
----------------------------------------------------------------------------
264 Camilion Markham ON 500% Software
Solutions Inc.
----------------------------------------------------------------------------
281 Solium Capital Calgary AB 458% Software
----------------------------------------------------------------------------
301 Nstein Montreal QC 430% Software
Technologies
Inc.
----------------------------------------------------------------------------
306 Genetec Saint- QC 423% Software
Technology Laurent
Corp.
----------------------------------------------------------------------------
321 MyThum Toronto ON 398% Communications/Networking
Interactive
----------------------------------------------------------------------------
322 Absolute Vancouver BC 398% Software
Software
----------------------------------------------------------------------------
342 Wmode Inc. Calgary AB 359% Communications/Networking
----------------------------------------------------------------------------
356 TeraXion Quebec QC 345% Communications/Networking
----------------------------------------------------------------------------
360 EION Wireless Ottawa ON 341% Communications/Networking
----------------------------------------------------------------------------
370 Talent Richmond BC 329% Software
Technology
Corporation
----------------------------------------------------------------------------
372 PointClickCare Mississauga ON 325% Software
(Wescom
Solutions Inc.)
----------------------------------------------------------------------------
379 Klick Toronto ON 318% Internet
Communications
Inc.
----------------------------------------------------------------------------
380 Evertz Burlington ON 318% Computers/Peripherals
Technologies
Limited
----------------------------------------------------------------------------
382 Intelex Toronto ON 317% Software
Technologies
----------------------------------------------------------------------------
387 SDP Components Dorval QC 312% Communications/Networking
Inc.
----------------------------------------------------------------------------
407 Intelerad Montreal QC 285% Software
Medical
Systems
Incorporated
----------------------------------------------------------------------------
424 Dundas Data Toronto ON 274% Software
Visualization
Inc.
----------------------------------------------------------------------------
425 Empathica Inc. Mississauga ON 273% Software
----------------------------------------------------------------------------
433 Distech Brossard QC 263% Computers/Peripherals
Controls Inc.
----------------------------------------------------------------------------
444 Dyadem Richmond ON 254% Software
International Hill
----------------------------------------------------------------------------
447 Radialpoint Montreal QC 252% Software
----------------------------------------------------------------------------
478 Bridgewater Ottawa ON 223% Software
Systems
----------------------------------------------------------------------------
483 Icron Burnaby BC 219% Computers/Peripherals
Technologies
Corporation
----------------------------------------------------------------------------
484 WebTech Burnaby BC 217% Communications/Networking
Wireless Inc.
----------------------------------------------------------------------------
493 TeraGo Thornhill ON 215% Communications/Networking
Networks
----------------------------------------------------------------------------


For a complete list of the 2008 North American Deloitte Technology Fast 500 ranking, visit www.fast500.com.

About the Technology Fast 500™

Technology Fast 500™ provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. This ranking is compiled from nominations submitted directly to the Technology Fast 500™ website, and public company database research conducted by Deloitte. Technology Fast 500™ award winners for 2009 are selected based on percentage fiscal year revenue growth during the five-year period from 2004 to 2008.

In order to be eligible for Technology Fast 500™ recognition, companies must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues. Using other companies' technology or intellectual property in a unique way does not satisfy this requirement. Consulting companies, professional service firms, etc. are not eligible unless they have proprietary technology that contributes to a significant portion of their operating revenues.

Technology Fast 500™ award eligibility requirements also include base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. These revenues must have more than doubled between 2004 and 2008. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.

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 Deloitte 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 in four industry subcategories: hardware/semiconductor, software, telecommunications and emerging technologies) 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, Gowlings, GrowthWorks, RBC, Wellington Financial, Stonewood Group, HKMB Hub, CATAAlliance, CleanTech Group, IGLOO Software, ITAC, MaRS and Microsoft. For further information, visit www.fast50.ca.

About Deloitte

Deloitte, one of Canada's leading professional services firms, provides audit, tax, consulting, and financial advisory services through more than 7,700 people in 57 offices. Deloitte operates in Quebec as Samson Belair/Deloitte & Touche s.e.n.c.r.l. Deloitte & Touche LLP, an Ontario Limited Liability Partnership, is the Canadian member firm of Deloitte Touche Tohmatsu.

Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu and its member firms.

Contact Information