CommAgility attributes its 2656 per cent revenue growth to technology expertise and support from Loughborough University
Loughborough, UK, 9th November 2012 - CommAgility today announced that it ranked number six in the 2012 Deloitte Technology Fast 50, a ranking of the 50 fastest-growing technology companies in the UK. Rankings are based on percentage revenue growth over five years. CommAgility grew 2656 per cent during this period and is the winner in the Midlands region.
CommAgility’s Managing Director, Edward Young, credits the company’s advanced technology expertise as the main driver of its 2656% revenue growth over the past five years. He said, “In our market of mobile infrastructure, having a technology lead and the best products is vital, and I believe we’ve achieved that – selling products around the world, backed up by a top class UK based engineering team and the support of Loughborough University’s Innovation Centre since we were founded in 2006.”
“Achieving sustained revenue growth of 2656% over five years is a tremendous accomplishment,” said Mark Doleman, Deloitte Technology partner for the East Midlands. “CommAgility’s exceptional growth puts it in select company.”
David Halstead, Partner leading the Deloitte Technology Fast 50, said: “The Deloitte Technology Fast 50 gives great profile to technology companies and is internationally recognised as being one of the most important business awards in the sector”
“The 2012 Deloitte Fast 50 shows that tremendous growth rates are still possible, with software sectors showing particular strength, they have had the greatest amount of entries in the past five years.”
“The Technology Fast 50 awards are an opportunity for businesses to gain recognition for their successes and achievements over the last five years. This year’s ranking highlights the importance of finding a niche product or service to beat the recession.”
“The awards are an opportunity for businesses to gain recognition for their successes and achievements. This year’s ranking highlights the importance of being innovative and finding a niche product or service, to beat the recession.”
The full list of this year’s winners and winner breakdown by region and sector is available at www.fast50.co.uk
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.
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UK Deloitte Technology Fast 50
The UK Deloitte Technology Fast 50 ranks the 50 fastest-growing technology companies in the UK, based on percentage growth in stated revenue over five years. The programme is sponsored by 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 technology entrepreneurs with aspirations for greatness across Europe. Frequently asked questions and details of the winning companies, including breakdowns by industry sector and region, will be available on www.fast50.co.uk
UK Technology Fast 50 eligibility criteria
The company must have been in business for a minimum of five years;
The company must be considered a technology company, which is defined as:
developing or owning proprietary technology that contributes to a significant portion of the company's operating revenues;
manufacturing technology-related products
be technology intensive, or use unique technology to solve problems
devoting a high percentage of effort to technology R&D;
NB: using another company's technology or intellectual property in a unique way does not qualify
The parent company must be UK-owned and have its headquarters in the UK (subsidiaries of UK or multinational organisations do not qualify);
Operating revenues must be at least £36,000 (50,000 Euros) for the first financial year of the five year period and £680,000 (800,000 Euros) for the most recent financial year;
NB: the accounts for year five should have an accounting period ending between 1 June 2011 and 31 May 2012.
All submissions must be accompanied by signed accounts for the first and last financial year being measured in the competition. Unless a statutory exemption is being taken, these accounts should be unabbreviated and audited
Technology Fast 50 selection and qualifications
The Technology Fast 50 list is compiled from Deloitte’s nominations submitted directly to the Technology Fast 50, and public company database research. To qualify for the Technology Fast 50, entrants must have had 2007/08 operating revenues of at least £36,000. 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 the sponsors
About Fidelity Growth Partners Europe
Fidelity Growth Partners Europe (FGPE) (www.fidelitygrowthpartners.eu) is the European arm of global venture and growth capital investor Fidelity Growth Partners which backs technology entrepreneurs with aspiration for greatness and has over $1 billion of assets under management across Europe, China, India and Japan. By combining a collaborative approach with a global network and a 40-year history of venture investing, FGPE helps companies accelerate their growth and become true leaders in their field. A strong track record in Europe includes investments in market leaders such as Seatwave, InnoGames, Notonthehighstreet, GoodData, Wahanda and Stylistpick.
About Taylor Wessing
Taylor Wessing is a leading International law firm with a single-minded approach: to help its clients succeed by thinking innovatively about their business issues.
Taylor Wessing numbers around 900 lawyers working across 22 offices in Europe, the Middle East and Asia, offering an integrated service across the full range of practice areas, with core strengths in corporate, finance, real estate, IP and private wealth. The firm also has particular expertise in advising clients in North America, Brazil and India.
CommAgility is a designer and manufacturer of high performance signal processing and RF modules for mobile telecoms applications. Customers around the world use CommAgility products to enable advanced R&D, develop Test Equipment, and build communication systems, all for a wide range of wireless standards including WiMax, LTE and LTE Advanced.
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