Deloitte Technology Fast 50™ names Averna to fast-growing technology elite
Montreal, September 25, 2008 — Global test engineering company Averna today announced that it has been named to the prestigious Deloitte Technology Fast 50™, a ranking of the 50 fastest-growing technology companies in Canada, based on the percentage of revenue growth over five years. Averna's solid increase in revenue of 319 percent from 2003 to 2007 has resulted in a #41 ranking.
For over a decade, the Deloitte Technology Fast 50™ program has tracked the successful growth of Canadian-grown global leaders. Now Canada’s pre-eminent technology award program, the Deloitte Technology Fast 50™ augments the broader Deloitte North American Technology Fast 500 initiative, with winners automatically eligible for this elite ranking.
“Transforming technological innovation into business success is hard, and it’s especially difficult to sustain such rapid revenue growth over five years,” said John Ruffolo, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. “Averna has rapidly built a highly successful company in the Canadian technology industry and we applaud their dedication and ability to transform their vision into reality.”
Averna President and CEO Pascal Pilon credits the company’s consistently impressive revenue growth to innovation, and to a thorough understanding of high-tech product development, production, and supply-chain environments.
“Averna is one of the only companies initiating test engineering early in the product lifecycle, so that our clients experience improvements every step of the way, from design to manufacturing,” said Pilon. “We will further propel our growth by promoting our combined software, solutions, and services offer on the international stage, helping high-tech manufacturers worldwide accelerate product development and improve quality standards.”
To qualify for the Deloitte Technology Fast 50™ ranking, companies must have been in business for at least five years, have revenue of at least $5 million, be headquartered in Canada, own proprietary technology, and conduct research and development activities in Canada. A panel of industry experts evaluates and judges companies based on four key criteria: competitive advantage; size, growth, and market attractiveness; management effectiveness and organization; and financial performance.
About the Deloitte Technology Fast 50™
The Deloitte Technology Fast 50™ program is Canada’s pre-eminent technology award program. Celebrating
business growth, innovation and entrepreneurship, the program features four distinct categories including the Technology
Fast 50 Ranking, Companies-to-Watch Awards (early-stage Canadian tech companies in business less than five years, with
the potential to be a future Deloitte Technology Fast 50™ candidate), Leadership Awards (companies that
demonstrate technological leadership in four industry subcategories: hardware/semiconductor, software,
telecommunications and emerging technologies) and the Deloitte Technology Green 15™ Awards (Canada’s leading
GreenTech companies that promote a more efficient use and re-use of the earth's resources in industrial production and
consumption). Program sponsors include Deloitte, Gowlings, GrowthWorks, RBC Capital Markets, Wellington Financial,
Stonewood Group, CATAAlliance and IGLOO.
