DELOITTE & TOUCHE

DELOITTE & TOUCHE

October 19, 2006 08:00 ET

Canadian Companies Dominate North America's Technology Industry

Canada boasts 50% of the top 10 ranking and highest revenue growth in North America according to the 2006 Deloitte Technology Fast 500

TORONTO, ONTARIO--(CCNMatthews - Oct. 19, 2006) - Canadian technology companies have outpaced their American counterparts with an average 3,876% five year revenue growth (vs. U.S. 1,927% growth), with half of North America's 10 fastest growing technology companies based in Canada, according to the Deloitte Fast 500 ranking released today. The Fast 500 is an annual award program ranking the fastest growing technology, media and telecommunications companies based on five year average revenue growth (2001-2005).

This is the first time since the program's inception nine years ago that Canada has five companies in the Top 10 ranking. Furthermore, this year, 56 Canadian companies rank among the 500 fastest growing technology companies in North America, compared to 53 companies in 2005.

"Canada is now the second largest tech-hub, following the Silicon Valley, accounting for half of North America's top 10 fastest growing technology companies. Canada's competitive advantage is partly attributable to its loyal and highly skilled workforce, attractive tax incentives encouraging R&D, and is supported by longer-serving management teams," says John Ruffolo, National Leader for Deloitte's Technology, Media and Telecommunication practice. "Canadian companies boast the highest revenue growth, playing in the world's largest and most competitive market arena. These outstanding achievements demonstrate the incredible business muscle and entrepreneurial spirit that resides within the local tech industry, and the ability of these winning companies to transform technology innovation into business success."

Canada's Top Five Fast 500

- Vancouver-based, Westport Innovations Inc., which develops clean-technology engines, ranks as the second-fastest growing company for 2006 in North America, with a revenue growth of 42,945%.

- Airborne Entertainment Inc., a Montreal-based Communications company ranks fourth overall (33,328%).

- Angiotech Pharmaceuticals, Inc., a biotechnology company which operates out of Vancouver, BC, ranks sixth on the Fast 500 (21,468%).

- DragonWave Inc., a leading innovator of high capacity broadband wireless networking systems based in Ottawa, Ontario ranks seventh (18,969%).

- Imaging Dynamics Company Ltd. of Calgary, AB, which develops digital radiography products, ranks ninth with (17,949%) average revenue growth.

High growth Hubs

Within Canada, Ontario has the highest number of companies on the Fast 500 with 21 winners - 13 in the Greater Toronto Area, five in Ottawa and three in Southwestern Ontario. Ontario is followed by Quebec with 13 companies, British Columbia with 12, Alberta with six recipients, two in Manitoba and one each in Newfoundland & Labrador and Prince Edward Island.

Sub-sector Leadership

Canada also leads the pack as a software and biotech hotspot with the highest proportionate number of companies from these sub-sectors on the Fast 500 ranking. Forty-three per cent and 23% of Canadian recipients operate within the software and biotech sub-sectors, respectively. This compares to 36% of software and only 15% biotech companies overall on the Fast 500.

"Having a powerful representation of Canadian software and biotech companies on the Fast 500 provides a further indication of the prominent role Canada plays in leading these industries on a global scale," adds Ruffolo. "This accomplishment is driven by the winners' strong intellectual property, their ability to commercialize these ideas, and to do it better than the competition."

About Deloitte 2006 Technology Fast 500

Compiled from Deloitte's 16 regional North American Fast 50 programs, the Fast 500 ranks the fastest growing technology, media, telecommunications and life sciences companies, based on percentage revenue growth from 2001 to 2005. To qualify, companies must be headquartered in North America, have been in business a minimum of five years, have revenues of at least $50,000 USD or $75,000 CAD, and current-year operating revenues must be at least $5 million USD or CD and own proprietary intellectual property or proprietary technology which contributes significantly to the company's operating revenues.

For the full ranking of Canadian companies on the 2006 Deloitte Technology Fast 500, please see the table at the bottom of the press release.

About Deloitte

Deloitte, one of Canada's leading professional services firms, provides audit, tax, consulting, and financial advisory services through more than 6,200 people in 50 offices. Deloitte operates in Quebec as Samson Belair/Deloitte & Touche s.e.n.c.r.l. The firm is dedicated to helping its clients and its people excel. Deloitte is the Canadian member firm of Deloitte Touche Tohmatsu.

Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu," or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.



2006 Deloitte Technology Fast 500 - Canadian Recipients
------------------------------------------------------------------------
5-year
FAST avrg.
500 revenue
RANK Company Name City Prov Industry Type growth
------------------------------------------------------------------------
2 Westport Innovations Vancouver BC Scientific &
Inc. Technical
Instrumentation 42945%
------------------------------------------------------------------------
4 Airborne Montreal QC Communications &
Entertainment Inc. Networking 33328%

------------------------------------------------------------------------
6 Angiotech Vancouver BC Biotechnology/
Pharmaceuticals, Pharmaceutical 21468%
Inc.
------------------------------------------------------------------------
7 DragonWave Inc. Ottawa ON Communications &
Networking 18969%
------------------------------------------------------------------------
9 Imaging Dynamics Calgary AB Scientific &
Company Ltd. Technical
Instrumentation 17949%
------------------------------------------------------------------------
15 AnorMED Inc. Langley BC Biotechnology/
Pharmaceutical 14092%
------------------------------------------------------------------------
35 Rutter Inc. St. John's NL Hardware 7939%
------------------------------------------------------------------------
42 Digital Oilfield Calgary AB Software 6769%
Inc.
------------------------------------------------------------------------
46 Cardiome Pharma Vancouver BC Biotechnology/
Corp. Pharmaceutical 5556%
------------------------------------------------------------------------
66 Theratechnologies Montreal QC Biotechnology/
Pharmaceutical 3729%
------------------------------------------------------------------------
67 CV Technologies, Edmonton AB Biotechnology/
Inc. Pharmaceutical 3621%
------------------------------------------------------------------------
69 CryoCath Kirkland QC Biotechnology/
Technologies Inc. Pharmaceutical 3427%
------------------------------------------------------------------------
74 Solium Capital Inc. Calgary AB Software 3240%
------------------------------------------------------------------------
88 Eloqua Corporation Toronto ON Software 2446%
------------------------------------------------------------------------
90 AirIQ Inc. Pickering ON Communications &
Networking 2438%
------------------------------------------------------------------------
95 Digital Fairway Toronto ON Software 2332%
Corporation
------------------------------------------------------------------------
102 QuestAir Burnaby BC Scientific &
Technologies Inc. Technical
Instrumentation 2085%
------------------------------------------------------------------------
115 Workbrain Inc. Toronto ON Software 1754%
------------------------------------------------------------------------
118 Radialpoint Montreal QC Software 1681%
------------------------------------------------------------------------
123 CityXpress Corp. Vancouver BC Software 1576%
------------------------------------------------------------------------
141 WebTech Wireless Burnaby BC Communications &
Networking 1380%
------------------------------------------------------------------------
155 Grey Island Systems Toronto ON Communications &
International, Networking 1210%
Inc.
------------------------------------------------------------------------
157 Oceanwide Inc. Montreal QC Software 1157%
------------------------------------------------------------------------
161 ESI Entertainment Burnaby BC Software 1130%
Systems Inc.
------------------------------------------------------------------------
172 DiagnoCure Inc. Sainte-Foy QC Biotechnology/
Pharmaceutical 1001%
------------------------------------------------------------------------
193 Hostopia.com Inc. Mississauga ON Software 829%
------------------------------------------------------------------------
198 PointClickCare Mississauga ON Software 800%
(Wescom
Solutions Inc.)
------------------------------------------------------------------------
204 Workstream Ottawa ON Software 771%
------------------------------------------------------------------------
210 Cogsdale Charlottetown PE Software 750%
Corporation
------------------------------------------------------------------------
231 Tm Bioscience Toronto ON Biotechnology/
Corporation Pharmaceutical 677%
------------------------------------------------------------------------
235 Frantic Films Winnipeg MB Media/
Corporation Entertainment 652%
------------------------------------------------------------------------
261 Nstein Montreal QC Software 574%
Technologies Inc.
------------------------------------------------------------------------
264 C-COM Satellite Ottawa ON Communications/
Systems Inc. Networking 572%
------------------------------------------------------------------------
285 Evertz Technologies Burlington ON Hardware 510%
Limited
------------------------------------------------------------------------
297 Phoenix Interactive London ON Software 475%
Design Inc.
------------------------------------------------------------------------
299 AEterna Zentaris Quebec QC Biotechnology/
Inc. Pharmaceutical 465%
------------------------------------------------------------------------
305 Atrium Quebec QC Biotechnology/
Biotechnologies Inc. Pharmaceutical 456%
------------------------------------------------------------------------
307 IP Applications Vancouver BC Internet 454%
Corp.
------------------------------------------------------------------------
309 Chartwell Technology Calgary AB Software 452%
Inc.
------------------------------------------------------------------------
315 Digital Payment Burnaby BC Hardware 438%
Technologies Corp.
------------------------------------------------------------------------
321 zed.i solutions inc. Calgary AB Scientific &
Technical
Instrumentation 427%
------------------------------------------------------------------------
342 Research In Motion Waterloo ON Communications &
Networking 377%
------------------------------------------------------------------------
345 LAB International Laval QC Biotechnology/
Inc. Pharmaceutical 374%
------------------------------------------------------------------------
346 March Networks Ottawa ON Computers/
Corporation Peripherals 373%
------------------------------------------------------------------------
349 Extreme CCTV Inc. Burnaby BC Computers/
Peripherals 368%
------------------------------------------------------------------------
374 Espial Ottawa ON Software 332%
------------------------------------------------------------------------
380 Nuvo Research Inc. Markham ON Biotechnology/
Pharmaceutical 320%
------------------------------------------------------------------------
397 Intelerad Medical Montreal QC Software 307%
Systems
Incorporated
------------------------------------------------------------------------
404 Hydrogenics Mississauga ON Scientific &
Corporation Technical
Instrumentation 292%
------------------------------------------------------------------------
417 Genetec Inc. St-Laurent QC Software 276%
------------------------------------------------------------------------
434 Atlantis Systems Brampton ON Software 267%
Corporation
------------------------------------------------------------------------
442 Aastra Technologies Concord ON Communications &
Limited Networking 261%
------------------------------------------------------------------------
448 Forbes Medi-Tech Vancouver BC Biotechnology/
Inc. Pharmaceutical 252%
------------------------------------------------------------------------
450 Logibec Groupe Montreal QC Software 252%
Informatique Ltd.
------------------------------------------------------------------------
454 Momentum Winnipeg MB Software 249%
Healthware, Inc.
------------------------------------------------------------------------
486 SIRIT Inc. Mississauga ON Software 220%
------------------------------------------------------------------------



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