Cambridge-based company DisplayLink (UK) Limited has been ranked the second fastest growing technology business in the UK, according to a new report compiled by business advisory firm Deloitte.
DisplayLink ranked UK's second fastest growing technology business
Over the past five years, the company has grown its revenue by an impressive 9,041 per cent to earn second position in the Deloitte 2010 Technology Fast 50.
DisplayLink specialises in chips and software that enable easy virtual graphics connectivity between computers and displays over standard interfaces such as USB, wireless USB and Ethernet.
The company was originally conceived by Martin King, in Seattle, USA, with the UK business established in 2003 after King realised that his vision to create a company that would develop technology to connect mobile devices to larger visual display units would be most effectively achieved in Cambridge.
Craig Ensley, DisplayLink’s president and CEO, said: “Martin King founded the business in 2003 because there was specific expertise in Cambridge around real-time networking of visual and graphics information over networks.”
Of the 50 companies listed in the Deloitte Technology Fast 50, seven (14 per cent) are based in Cambridge, including Ubisense (14th), BlueGnome (25th), TTG (Southern) Limited (33rd), Cambridge Broadband (36th), Autonomy Corporation (42nd) and Jagex Limited (49th). Only London (40 per cent) and the South East (18 per cent) have a higher number of companies represented in the list.
David Halstead, Cambridge-based partner leading the Deloitte Technology Fast 50, said: “In spite of the challenging financial market conditions, the 2010 Deloitte Fast 50 shows that tremendous growth rates are still possible, with the mobile technology and software sectors showing particular strength.
“It’s pleasing to see Cambridge companies featuring heavily in the list again this year too, with DisplayLink putting in a storming performance to be ranked second overall.
“Successful companies have overcome many challenges to grow their businesses, and maintaining their growth will rely on attracting and retaining the most able staff.”
The winner of this year’s Technology Fast 50 was London-based Mobile Interactive Group, with a growth of 26,885 per cent – an increase of 8,659 per cent compared to last year’s winner, Distribution Technology.
Mobile Interactive Group was founded in 2004 by Barry Houlihan, Anthony Nelson and Nick Aldridge, and employs 160 people. The business has grown rapidly and recently acquired a Manchester based mobile CRM software business, as well as launching two subsidiary businesses, mobile advertising agency 4th Screen Advertising and digital technology agency Jigsaw.
Barry Houlihan, Mobile Interactive Group chief executive, said: “We’re delighted to have come top of this year’s Deloitte Technology Fast 50. 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 currently building sales teams and partnerships in markets like the USA, Africa and Asia Pacific and we’ll be relocating some of our senior management and directors to support that growth.”
Cambridge and East 14%
South West 4%
South East 18%
Northern Ireland 2%
Top five companies
Mobile Interactive Group Software 26885%
DisplayLink (UK) Limited Semiconductors, components and electronics 9041%
Mimecast Limited Software 7579%
Translations Online Limited Media and entertainment 5409%
Periscopix Internet 5147%
The Deloitte Cambridge office comprises 8 Partners and over 250 staff who deliver a full range of professional services to the East Anglian region. As well as focussing on the life sciences and technology sectors for which the region has become so renowned, the office has long standing specialisms in other sectors including the professions, consumer business, food and agribusiness.