PACKETEXCHANGE RANKED 49th FASTEST GROWING TECHNOLOGY COMPANY IN THE UK IN THE DELOITTE TECHNOLOGY FAST 50
2007-10-24
London and San Francisco, 24th October 2007 – PacketExchange, the leading provider of private high-speed internet networks, today announced that it ranked 49th out of the 50 fastest growing technology companies in the UK in this year‘s Deloitte Technology Fast 50.
Rankings are based on average percentage revenue growth over five years.
"We are delighted to have been selected as a winner of the Deloitte UK Fast 50 Technology Awards,” said Kieron O‘Brien, CEO of PacketExchange. “Our growth is based on our technological innovation and drive to offer leading businesses, like Bebo, Yahoo! and E-bay, high-speed internet networks, enabling a superior quality of experience to their customers. By using our services and bypassing the public internet, our customers are able to achieve sustainable business models and deliver innovative services without being affected by the public internet‘s shortcomings. For example, Radiohead fans were recently able to download the band‘s latest album 100 times faster than via the public internet using our high-speed networks.”
"Growing the top line enough to make the Deloitte Technology Fast 50 is especially meaningful during competitive times for the technology sector," said Simon Kerton-Johnson, Chairman of Deloitte‘s UK & Ireland Fast 50. "We congratulate PacketExchange on becoming one of the 50 fastest growing technology companies in the United Kingdom."
Fast 50 Selection and Qualifications
The Fast 50 list is compiled from Deloitte‘s nominations submitted directly to the Fast 50, and public company database research. To qualify for the Fast 50, entrants must have had 2002 operating revenues of at least £34,000. Deloitte researchers examined financial statements to validate operating revenues.
Entrants must also be public or private companies headquartered in a participating region of the UK and must be a “technology company,” defined as a company that owns proprietary technology that contributes to a significant portion of the company’s operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology in a unique way does not qualify.
About PacketExchange
PacketExchange is the leading provider of private high-speed internet networks with a global application sensitive delivery platform spanning North America, Europe and Asia. By enabling organizations to bypass the public internet, PacketExchange offers its customers a reliable, fast and secure internet connection, while providing a superior user experience. PacketExchange has an impressive portfolio of over 450 customers including Microsoft and Yahoo! Headquartered in London, England; PacketExchange also has offices in San Francisco and is rapidly expanding. PacketExchange was ranked as the 18th Fastest Growing Technology Company of 2006 in The Sunday Times Tech Trak and is nominated in the Deloitte Technology Fast 500 EMEA 2007.
Deloitte Technology, Media & Telecommunications (TMT) Group
The TMT Group is composed of service professionals who have a wealth of experience serving technology, media and telecommunications companies throughout the world in areas including cable, communications providers, computers and peripherals, entertainment, media and publishing, networking, semiconductors, software, wireless, and related industries. These specialists understand the challenges that these companies face throughout all stages of their business growth cycle and are committed to helping them succeed. Deloitte is a leader in providing strategic, financial and operational assistance to its technology, media and telecommunications clients.
