SOURCE: Openet

October 24, 2007 04:00 ET

Openet Ranked 14th in Deloitte Technology Fast 50

Attributes Growth to the Strength of the FusionWorks Platform

DUBLIN, IRELAND--(Marketwire - October 24, 2007) - Openet, a provider of Transactional Intelligence solutions for the world's largest and most innovative service providers, today announced that it ranked 14th in the 2007 Deloitte Technology Fast 50, a ranking of the 50 fastest growing technology companies in Ireland. Rankings are based on average percentage revenue growth over five years. Openet grew 589 percent during this period.

Openet's CEO, Niall Norton, commented: "The strength of Openet's technology offering continues to grow along with our customer base. Our FusionWorks Platform allows customers to realise revenue potential from the latest network innovations -- making Openet the solution provider of choice for pioneering telecommunications operators. We're delighted to be recognised by Deloitte for our contribution to the wider business community."

Openet's FusionWorks Platform is a processing and transaction management software platform that offers the highest performance, scalability and flexibility service providers require to deploy and manage services. Its breadth of solutions, which includes Convergent Mediation, Convergent Charging, Network-Edge Rating, Lawful Network Surveillance and Revenue Assurance, is unparalleled in the industry. Proven to integrate seamlessly across any network and support any service, FusionWorks provides unmatched availability and processing speed while handling billions of real-time events and transactions every day.

The Fast 50 programme, now in its eighth year in Ireland, ranks the fastest-growing technology companies in the Republic of Ireland and Northern Ireland. This year, there were 15 companies from Northern Ireland in the ranking. The average annual growth rate of the winning companies was 497%.

Announcing the winners of the Technology Fast 50 programme, David O'Flanagan, partner with Deloitte, Dublin said: "This year's ranking was one of the closest that we have seen in the eight years of the competition to date. Many of the companies have demonstrated continuing growth, evidenced by their presence in the Fast 50 rankings year on year. Encouragingly, the Fast 50 programme continues to identify the presence of successful fast growth rising stars in the Irish technology sector."

Details of the final Technology Fast 50 ranking list are available to download at www.fast50.ie.

About Openet

Openet is a leading worldwide provider of event processing and transaction management solutions. The Transactional Intelligence of the company's solutions extracts increased value from diverse service provider networks, enabling rapid introduction of new services and reliable, cost-effective management of existing services. Openet is focused on delivering best-in-class network edge solutions and specialized engagement processes that create business value from network activity. A global company, Openet's implementations include long-running engagements with the world's leading service providers such as British Telecom, Orange, AT&T and Verizon Wireless. For more information, visit www.openet.com.

About the Deloitte Technology Fast 50 Programme

To enter the Fast 50 Awards, companies must meet the criteria listed below. Entries must be sent in electronically, either by the companies themselves or through a third party.

Entry Criteria:

--  Have been in business for a minimum of five years;
--  Considered a technology company, which is defined as producing
    technology, manufacturing technology-related products, be technology
    intensive, or use unique technology to solve problems, devoting a high
    percentage of effort to technology R&D
--  The parent company must be Irish-owned and have its headquarters in
    Ireland
    (subsidiaries of multinational organisations do not qualify)
--  Operating revenues must be at least 50,000 Euros for 2002.
    

About Deloitte

In Ireland, Deloitte is among the nation's leading professional service firms, providing audit, tax, consulting and financial advisory services through more than 1,000 people in Dublin, Cork and Limerick. Known as an employer of choice for innovative human resources programmes, it is dedicated to helping its clients and its people excel. "Deloitte" refers to Deloitte & Touche and any associated partnerships and companies established under the laws of Ireland. Deloitte is the Irish member firm of Deloitte Touche Tohmatsu. For more information, please visit the Irish member firm's website at www.deloitte.com/ie.

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 over 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.

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.