September 20, 2007 08:00 ET

Nine Quebec Companies Among 2007 Deloitte Technology Fast 50, With Montreal Region Clearly Emerging as Technology Hotspot

Distech Controls, Inc. among first recipients of Deloitte Technology Green 15 Award

MONTREAL, QUEBEC--(Marketwire - Sept. 20, 2007) - Nine companies from Quebec are recognized today in the 2007 Deloitte Technology Fast 50 Awards program. With a cluster of winning companies in Montreal, the region is emerging as a technology hotspot.

Celebrating its 10th anniversary, Canada's preeminent awards program also honours Research in Motion for achieving a top 50 ranking each year since the program's inception.

New this year is the Deloitte Technology Green 15, an award that recognizes companies in the rapidly evolving sector of "green technology" solutions. The Honourable John Baird, Minister of the Environment, revealed the inaugural recipients at a private reception.

"Canadian technology companies chart some of the highest revenue growth in North America, while playing in some of the world's largest, most competitive and exciting market sectors," said Mr. Pierre G. Brodeur, Technology, Media & Telecommunications Industry Group, for Deloitte in Montreal. "Over the past decade, companies from Quebec have displayed an incredible business acumen and entrepreneurial spirit that we now see emerging in an entirely new field which we're recognizing this year with the Deloitte Technology Green 15."

The highest-ranked company in Quebec on the Deloitte Technology Fast 50 ranking is Airborne Entertainment Inc. of Montreal at #9 with a revenue growth rate of 5,279%; Montreal-based Radialpoint ranks #23 (911%); Genetec of Saint-Laurent ranks #24 (897%); Nstein Technologies Inc. of Montreal ranks #30 (693%); Montreal-based DTI Software ranks #38 (476%); Distech Controls Inc. of Brossard ranks #42 (427%); Lyrtech of Quebec City ranks #43 (424%); Artificial Mind & Movement of Montreal ranks # 45 (385%); and Montreal-based Oceanwide Inc. ranks #46 (370%).

Mr. Brodeur notes that the Greater Montreal Region has clearly established itself as technology hotspot in Canada, partly due to its bilingual staff and proven track record of technology start-ups.

Distech Controls, Inc. also receives a Technology Green 15 Award, which recognizes companies creating innovative and economically viable intellectual property in the field of green technology.

"Deloitte created the Deloitte Technology Fast 50 program a decade ago to celebrate the world-class achievements of Canadian technology companies," said John Ruffolo, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. "Companies from Quebec are a perfect example of the combination of revenue growth, technological innovation and entrepreneurial spirit that continues to be a winning formula in the technology sector."

Canadian technology continues explosive growth on world stage

This year's winning companies posted an average growth rate of 3,732%. Waterloo-based Sandvine tops the list, followed by Toronto-based PlateSpin (21,519% growth), a developer of data centre automation software. Two companies share third spot at 16,610%: Ottawa-based BTI Photonic Systems Inc., which makes optical networks and Toronto-based Tira Wireless Inc., whose software enables wireless applications. Rounding out the top five are Toronto-based MyThum Interactive Inc. (13,900%), a mobile interactive media technology-provider and Impact Mobile Inc. (10,455%), which provides mobile marketing solutions.

Dotcom bust sowed seeds for today's second wave of technology success

The astounding success Canadian technology companies are achieving today has its roots in the dotcom boom from 1997-2001. In fact, 60% of ranked companies were founded during this time and we are today starting to see the coming of age of companies created when venture capital reached its funding peak in the late 1990s. In addition, the dotcom bust that followed 2001 laid the foundation for the success of many of today's winning companies - seasoned management teams and world class research and development.

The future is green and wireless: software sector still dominant but evolving

Software is still the dominant category in the ranking at 53%, but enterprise software applications are giving way to new applications such as digital media, server virtualization and managed services. Telecommunications remains the second-largest represented sector at 30%, followed by hardware at 16% and emerging technologies at 2%. Although the wireless sector continues to thrive, the big story in 2007 is the unprecedented emergence of green technology companies. Although some of these companies have been around for years, they have finally arrived, with venture capitalists and major technology players taking note and a stake in the game.

CEOs reveal strategies and concerns around growth

A recent survey of this year's winning company CEOs found that although they are generally optimistic about the future, they are concerned about two major issues that have the potential to impact company growth: Canadian taxation policy and currency exchange rates. The survey also found that CEOs plan to achieve growth this year by focusing on hiring world-class Canadian talent, developing world-class intellectual property (research and development continues to be a major focus for investment) and expanding into global markets (due to Canada's small domestic market for their products).

Regional representation of Canada's technology hotspots

While the Greater Toronto Area (GTA), Ottawa, and companies from Southwestern Ontario combine to produce more than half of Deloitte Technology Fast 50 winning companies, other regions also show strength. The Province of Quebec and the Greater Vancouver Area (GVA) each boast nine winners, four hail from Calgary, and Atlantic Canada has two winners.

A decade of recognizing Canada's leading technology companies

Since 1997, the Deloitte Technology Fast 50 program has mirrored the tremendous evolution of the Canadian technology industry. In addition to the Technology Fast 50, the program now includes Leadership Awards, Companies-to-Watch Awards, and Deloitte Technology Green 15 Awards.

Leadership Awards

Leadership Awards single out companies that are the elite members of the Canadian technology industry, whose ability to create a distinct competitive advantage in a high-growth market is allowing them to dominate their sector and quickly join the ranks of other Canadian global leaders. This year's four Leadership Awards recipients are: Technology Fast 50 winner, Sandvine; Bridgewater Systems, a developer of access control software for wireless and wireline service providers; SMART Technologies Inc., which makes business collaboration tools; and Xantrex Technology Inc., which supplies advanced power electronics.

Companies-to-Watch Awards

Based on the same criteria as the Deloitte Technology Fast 50, this award honours early-stage Canadian technology companies in business less than five years, with the potential to be a future Deloitte Technology Fast 50 candidate. For example, two Companies-to-Watch winners from last year, Sandvine and Impact Mobile Inc., rose to the upper echelon of the 2007 Deloitte Technology Fast 50 ranking this year. Ten companies are recognized as Companies-to-Watch this year: Airline Intelligence Systems, Axiom Real-Time Metrics Inc., Brandimensions, ENABIL Solutions Ltd., Enablence Technologies Inc., First Coverage, Octopz Inc., RapidMind Inc., Spatial View Inc., and xkoto Inc.

Deloitte Technology Green 15 Awards

New in 2007, these awards honour companies creating innovative, important and economically-viable intellectual property in the burgeoning field of green technology. Deloitte Technology Green 15 companies are judged on technology solutions that deliver a significant environmental impact and a compelling return for their clients. The 15 inaugural winners are: 6N Silicon Inc., Azure Dynamics Inc., Distech Controls, Inc., EnviroTower, GEEP Inc., Optimal Technologies, Plutonic Power Corporation, QuestAIR Technologies Inc., REGEN Energy Inc., Sempa Power Systems Ltd., Smartcool Systems Inc., Sustainable Energy, VRB Power Systems Inc., Westport Innovations Inc., and Xantrex Technologies Inc.

About the Deloitte Technology Fast 50

This year marks the 10th anniversary of the Deloitte Technology Fast 50 program, which celebrates 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 in four industry subcategories: hardware/semiconductor, software, telecommunications and emerging technologies) and the Deloitte Technology Green 15 Awards (recognizing companies creating innovative and economically viable intellectual property in the field of green technology.) Program sponsors include Deloitte, Gowlings, GrowthWorks, CIBC World Markets, Stonewood Group, Behr & Associates, and CATAAlliance. For further information, visit or call 1-888-6FAST50.

About Deloitte

Deloitte, known in Quebec as Samson Belair/Deloitte & Touche s.e.n.c.r.l, is one of the leading professional services firms in Quebec and Canada, providing audit, tax, financial advisory and consulting services. In Quebec, approximately 1,700 people regularly draw on their expertise for clients from every sector of the economy. With over 6,800 people working in 51 offices across the country, Deloitte is dedicated to helping its clients and its people excel. Affaires Plus magazine recognized the firm as one of the best employers in Quebec in 2002, 2003, 2004 and 2005. Deloitte is the Canadian member firm of Deloitte Touche Tohmatsu.

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