Romania performed in Deloitte Central Europe Technology Fast 50, with seven software developers ranking in the regional top, as Bucharest-based TeamNet International kept last year’s second place, while other three Romanian firms gained more positions up in the ranking.
Deloitte Central Europe Technology Fast 50, now in its 11th edition, ranks the fastest growing technology companies in the region, based on the growth rate of the revenues they have experienced over the last five years (2004 – 2008). Entrants must also own intellectual property that significantly contributes to the company’s operating revenues; or they must devote a significant part of revenues to research and development of technology.
The list of Romanian finalists includes TeamNet International (growth rate of 3,120%), AROBS Transilvania Software (+831%), Crys Computers (new entry, +635%), Fortech (new entry, +629%), LASTING Software (+541%), The RED Point (+510%), and Advantage Software Factory (+301%).
Romania joined the competition in 2008 and has improved its representation since, from 6% (with three companies) to 14% (seven companies). This places Romania on the 4th place, after Poland (11), Hungary (10) and the Czech Republic (8).
Last year, Romania had four finalists, double the number in the 2008 edition – TeamNet International (41st), AROBS Transilvania Software (102nd), Lasting Software (360th), and The RED Point (422nd).
FAST 50 entrants must be a technology company, defined as an owner of proprietary technology that contributes to a significant part of the company’s operating revenues; or as a company that devotes a significant portion of revenues to research and development of technology. Eligibility criteria also include operating revenues of at least 50,000 Euro (revenue must be accounted on a consistent basis during a period of five years); activity of the business for a minimum of five years; an ownership structure that excludes majority-owned subsidiaries of foreign strategic entities; and headquarters within one of the Central European countries participating in the program.
The Deloitte Central European Fast 50 ranks fast-growing technology companies in the Czech Republic, Hungary, Latvia, Estonia, Poland, Slovakia, Bulgaria, Romania, Serbia, Croatia, Slovenia, Bosnia and Herzegovina and Lithuania.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 140 countries, Deloitte brings world-class capabilities and deep local expertise to help clients succeed wherever they operate. Deloitte’s approximately 169,000 professionals are committed to becoming the standard of excellence.