Averna ranked among Deloitte Technology Fast 500 fastest-growing companies in North America
Montreal, QC, November 12, 2008 — Global test engineering company Averna today announced that it has been named to the Deloitte Technology Fast 500 for a second year in a row, an elite ranking of the 500 fastest-growing technology, media, telecommunications, and life sciences companies in North America. This prestigious recognition is based on the percentage of revenue growth from 2003 to 2007, during which Averna grew by 319 percent to achieve a #413 ranking, and it follows the company's nomination to the Canadian Deloitte Technology Fast 50.
“Each company on Deloitte's Technology Fast 500 is an innovator with an exceptional five-year track record of growth,” said Phil Asmundson, Deloitte LLP vice chairman and national managing partner for Technology, Media and Telecommunications. “Averna has earned its position among the fastest-growing companies in North America, and we are proud to honor this important accomplishment.”
Averna CEO Pascal Pilon credits the company's steady growth to a piercing insight into the challenges faced by innovative OEMs as they bring new products to market.
“Technology frontrunners need strategies to deal with shorter time-to-market windows, and with the increasing complexity of electronic devices,” said Pilon. “Only Averna combines state-of-the-art software and hardware, customized solutions, and unrivalled test engineering expertise to empower its clients to develop products faster, and with better reliability and brand protection. This commitment to helping them integrate best practices throughout the product lifecycle, from design to manufacturing, is what will drive the company's continued growth.”
“It's great to see so many of our Canadian Technology Fast 50 winners included in the North American Fast 500,” stated John Ruffolo, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. “While helping fuel the growth of the Canadian technology industry, Averna is also a North American technology leader.”
Fast 500 Selection and Qualifying Criteria
The Fast 500 ranks the fastest growing technology, media, telecommunications and life sciences companies in North America. It is compiled from Deloitte's regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research. Companies are selected based on percentage revenue growth from 2003 to 2007.
Entrants must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues or devote a significant proportion of revenues to research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify. Base-year operating revenues must be at least $50,000 USD or $75,000 CD, and current-year operating revenues must be at least $5 million USD or CD. Companies must be in business a minimum of five years, and they must be headquartered within North America.
