SUNNYVALE, CA--(Marketwire - Nov 14, 2012) - SiTime Corporation, an analog semiconductor company that is revolutionizing the timing market, today announced it is the fastest growing semiconductor company in North America, and is ranked 38th overall on Deloitte's 2012 Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2007 to 2011. SiTime's revenues grew 3853 percent during this period.
"SiTime's innovative silicon MEMS and analog technology is revolutionizing the decades-old, $6 billion timing industry. Our products offer unsurpassed performance, reliability and flexibility, with the lowest cost of ownership. These compelling benefits are driving major electronics companies to rapidly adopt SiTime's solutions," said Rajesh Vashist, CEO of SiTime. "We are honored to be recognized as the fastest growing semiconductor company in North America and want to thank our customers and employees for enabling SiTime to win this prestigious award."
"We are proud to honor the 2012 Technology Fast 500™ companies, and commend them for their outstanding growth," said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications (TMT) leader. "These ground-breaking companies have outpaced their competition and are reinventing the way we do business today."
"The companies on the Fast 500 list are among those that have demonstrated remarkable innovation, creativity and business savvy," said Bill Ribaudo partner, Deloitte & Touche LLP and national TMT leader for audit and enterprise risk services (AERS). "As a result, these companies have continued to successfully forge ahead in a challenging economic environment. We applaud the leadership and employees of SiTime for this impressive accomplishment."
SiTime Corporation, an analog semiconductor company, offers MEMS-based silicon timing solutions that replace legacy quartz products. With 80% market share and over 120 million devices shipped, SiTime is driving the $6 Billion timing market's transition to 100% silicon-based timing.
SiTime's configurable solutions enable customers to differentiate their products with higher performance, reduced size and better reliability. The rich feature set and flexibility of our solutions allows customers to consolidate their supply-chain, reducing cost of ownership and time to market. By using standard semiconductor processes and high volume plastic packaging, SiTime offers the best availability and shortest lead times in the industry.
Top-tier manufacturers are experiencing these benefits and recognize SiTime as The Smart Timing Choice™.
About Deloitte's 2012 Technology Fast 500™
Technology Fast 500, conducted by Deloitte & Touche LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies -- both public and private -- in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2007 to 2011.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have 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. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
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#SiTime is fastest growing semiconductor company in N. America on #Deloitte's 2012 Technology Fast 500™
#SiTime is fastest growing semiconductor company in N. America on Deloitte's 2012 Technology Fast 500™ due to rapid adoption of #MEMS timing
#SiTime is fastest growing semiconductor company and ranked no. 38 overall in N. America on #Deloitte's 2012 Technology Fast 500™