Published on 20 October, 2008
| Genetec has rapidly built a highly successful company in the Canadian technology industry|
Genetec is ranked among the 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. Genetec's increase in revenues of 799% percent from 2003 to 2007 resulted in a 24th 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. Genetec 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," said John Ruffolo, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte.
Alain Coté, Genetec's Executive Vice President, credits the fact that the company maintains very close collaboration with the user base, often integrating their customers' input in the development of their solutions and the fact that there is a very high-level of attention spent on recruiting top talent within the organization, with the company's 799% percent revenue growth. He said: "The expertise and knowledge that is generated from our team, as well as the long-standing partnerships that we have developed with our customers has allowed us to further enhance our solutions and consequently grow our business into new markets."
"Canadian technology companies have some of the highest revenue growth in North America, while playing in some of the world's largest, most competitive and exciting market sectors," explains Ruffolo. "Outstanding companies such as Genetec demonstrate the incredible business acumen and entrepreneurial spirit that fuel the Canadian technology industry."
To qualify for the Deloitte Technology Fast 50 ranking, companies must have been in business for at least five years, have revenues 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 evaluate and judge companies based on four key criteria: competitive advantage; size, growth, and market attractiveness; management effectiveness and organization; and financial performance.