Cambridge technology business DisplayLink (UK) Limited has been named among the top ten fastest growing tech companies in Europe, Middle East and Africa (EMEA), according to business advisory firm Deloitte.
Deloitte reveal that DisplayLink is ranked 4th fastest growing technology company in EMEA
The company, which 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, was ranked fourth in Deloitte’s 2010 Technology Fast 500, for EMEA.
Over the last five years, the company has grown its revenue by an impressive 9,041 per cent to earn its place in the elite list.
Last month, DisplayLink was ranked the second fastest growing technology company in the UK in Deloitte’s Technology Fast 50.
Founded in 2003, the company's rapid growth has benefited from seed funding and two rounds of venture capital, totaling some $60m.
Craig Ensley, DisplayLink CEO, said: "We're now at that hockey-stick growth stage which all successful technology companies reach. So we have to stay focused on our core strengths as we launch new applications for our technology.
"Innovation has driven our rapid growth. Our core strength is in delivering powerful interactive virtual graphics solutions that optimise the user experience."
Now in its 10th year, the annual Technology Fast 500 ranks the fastest growing public and private technology, media, telecommunications, life sciences and clean technology companies from 24 countries across EMEA.
London-based MIG secured top spot in the ranking producing a five-year fiscal growth rate of 26,885 percent.
In addition to DisplayLink, several other Cambridge-based companies were included in the list, including Ubisense (81st), Bluegnome (149th), TTG (Southern) Limited (179th), Cambridge Broadband (198th), Autonomy Corporation (223rd), Jagex Limited (259th) and Datanomic (288th).
David Halstead, Cambridge-based Deloitte partner in charge of the Technology Fast 500 programme, said: “MIG and all the other 2010 Deloitte Technology Fast 500 winners deserve enormous credit for the remarkable growth they have achieved.
“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.”
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.
The full list of ranked companies as well as additional detail on Deloitte’s Technology Fast 500(TM) programme can be found at www.deloitte.co.uk/fast500emea.
The Deloitte Technology Fast 500 (TM) is one of the most objective rankings to focus on the technology industry. Entrants must have been in business for at least five years and had base-year operating revenues of at least €50,000 and current year operating revenues of at least €800,000. The ranking is complemented by a CEO Survey to gain a primary insight, from the CEO, as to the driving forces behind their company’s success.
Deloitte Technology Fast 500 (TM) EMEA CEO Survey 2010
This report is a comprehensive analysis of the business trends and background statistics of the winning companies as well as a summary of the key concerns and expectations of sector CEOs.
It can be downloaded from www.deloitte.co.uk/fast500emea
About the Deloitte Technology Fast 500 EMEA
The Deloitte Technology Fast 500 EMEA programme is the region’s most objective industry-ranking standard to focus on the technology field and is now celebrating its 10th year. The programme recognizes technology companies that have achieved the fastest rates of revenue growth in Europe, the Middle East and Africa during the past five years. Combining technological innovation, entrepreneurship and rapid growth, Fast 500 companies – large, small, public and private – span a variety of industry sectors, and are leaders in hardware, software, telecom, semiconductors, internet, media and entertainment, life sciences and emerging areas, such as clean technology.
The programme is supported by the Deloitte Technology Fast 50 initiatives, which rank high growth technology companies by location or specifically defined geographic area and is run by the Deloitte Touche Tohmatsu Limited’s Technology, Media & Telecommunications (TMT) global industry group.
Co-sponsors include Taylor Wessing, a leading International law firm with a focus on the industries of tomorrow, and Fidelity Growth Partners Europe, a venture and growth capital investor which backs entrepreneur with aspiration for greatness in the IT and clean technology sectors across Europe. Frequently asked questions and details of the winning companies, including breakdowns by country, industry sector and ranking, will be available on www.deloitte.co.uk/fast500emea.
The Deloitte Touche Tohmatsu Limited (DTTL) Global Technology, Media & Telecommunications (TMT) Industry Group consists of TMT practices organized in the various member firms of DTTL. It includes more than 7,000 partners and professionals from around the world, dedicated to helping their clients evaluate complex issues, develop fresh approaches to problems, and implement practical solutions. There are dedicated TMT member firm practices in 45 countries in the Americas, EMEA, and Asia Pacific. DTTL’s member firms serve 92 percent of the TMT companies in the Fortune Global 500. Clients of Deloitte’s member firms’ TMT practices include some of the world’s top software companies, computer manufacturers, semiconductor foundries, wireless operators, cable companies, advertising agencies, and publishers.
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
The information contained in this press release is correct at the time of going to press.
For more information, please visit www.deloitte.co.uk.
Member of Deloitte Touche Tohmatsu Limited
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.