Deloitte has released the 2010 Technology Fast 500, for EMEA.
Now in its 10th year, the annual Deloitte Technology Fast 500 ranks the fastest growing public and private technology, media, telecommunications, life sciences and clean technology companies from 24 countries across EMEA.
MIG secured top spot in the ranking producing a five-year fiscal growth rate of 26,885 percent. Based in London, UK, the firm specialises in integrated mobile and digital communications, servicing globally renowned blue-chip companies.
David Halstead, Deloitte Partner in Charge of the Deloitte Technology Fast 500 programme said: “MIG and all the other 2010 Deloitte Technology Fast 500TM winners deserve enormous credit for the remarkable growth they have achieved in what remains a challenging economic environment.”
Barry Houlihan, CEO and Founder of MIG said: “We're in a hot high-growth industry, dealing with rapid changes in devices, products, platforms and user expectations. You need to have a clear vision, a great business model and a very strong culture to deal with that.
“We are focused on international expansion despite the economic uncertainty. This market could stay flat for some time. My advice is to be relevant in what you do and be very focused on customer service. In a challenging market, helping your clients to grow and generate revenue will distinguish you from your competitors.”
Turbulent market conditions affect the average growth rate
The average five-year revenue growth rate in this year’s Deloitte Technology Fast 500 EMEA ranking is 14,027 percent for the top five companies and 1,192 percent for the top 500. This was down from the 2009 growth figures of 24,068 percent for the top five and 1,470 percent for the full ranking.
David Halstead adds: “Although the average rates are slightly down on 2009, we have still seen vast growth in this year’s Fast 500, in spite of the challenging financial market conditions. The mobile technology and software sectors have been particularly robust.”
Geographic Trends France has the highest concentration of Technology Fast 500 companies with 94, followed by the UK with 86. However, the UK has three of those companies in the top five. Sweden jumped ahead of Norway and the Netherlands into third spot having produced 65 ranked companies, 27 more than it had in 2009.
The software sector comprised 40 percent of the overall list with 202 companies, followed by internet (22 per cent), telecommunications/networking (15 per cent), semiconductors/components /electronics (nine percent), biotech/pharmaceutical/medical equipment (six percent), greentech (three percent) and computers / peripherals (three percent). Media / entertainment made up the remaining two per cent.
The software sector was particularly strong, capturing three of the top five spots in the ranking and 21 in the top 50.
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