Diamond Bar, CA, Tuesday, October 20, 2010. – PreludeSys today announced that it ranked number 400 on Technology Fast 500™, Deloitte LLP´s ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on percentage of fiscal year revenue growth during the period from 2005-2009. PreludeSys grew 213% percent during this period.
“PreludeSys and the other 2010 Technology Fast 500™ winners forged ahead in a challenging economic environment to realize exceptional growth,” said Phil Asmundson, vice chairman and Deloitte´s U.S. technology, media and telecommunications leader. “Deloitte commends PreludeSys for this impressive accomplishment.”
“PreludeSys has proved itself to be one of the fastest growing tech companies in North America, and we are proud to honor them as one of the 2010 Technology Fast 500™,” said Mark Jensen, managing partner, venture capital services, Deloitte & Touche LLP.
Technology Fast 500™ Selection and Qualifying Criteria
Technology Fast 500™ provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. This ranking is compiled from nominations submitted directly to the Technology Fast 500™ website, and public company database research conducted by Deloitte. Technology Fast 500TM award winners for 2010 are selected based on percentage fiscal year revenue growth during the five year period from 2005 to 2009.
In order to be eligible for Technology Fast 500™ recognition, companies must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company’s operating revenues. Using other companies’ technology or intellectual property in a unique way does not satisfy this requirement. Consulting companies, professional service firms, etc. are not eligible unless they have proprietary technology that contributes to a significant portion of their operating revenues.
Technology Fast 500™ award eligibility requirements also include base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. These revenues must have more than doubled between 2005 and 2009. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.