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Toronto, September 20, 2007 — An impressive list of 29 companies from the Greater Toronto Area (GTA) are recognized today in the 2007 Deloitte Technology Fast 50 Awards program. GTA companies claim seven of the top 10 positions in the ranking of Canada’s fastest-growing technology companies, which is based on five-year revenue growth.

Celebrating its 10th anniversary, Canada’s preeminent technology awards program also honours Research in Motion for achieving a top 50 ranking each year since the program’s inception. New this year is the Deloitte Technology Green 15, an award that recognizes companies in the rapidly evolving sector of “green technology” solutions. The Honourable John Baird, Minister of the Environment, revealed the inaugural recipients at a private reception.

“Canadian technology companies chart some of the highest revenue growth in North America, while playing in some of the world’s largest, most competitive and exciting market sectors,” said John Ruffolo, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. “Over the past decade, Canadian companies have displayed an incredible business acumen and entrepreneurial spirit that we now see emerging in an entirely new field which we’re recognizing this year with the Deloitte Technology Green 15.”

GTA companies claim seven of the top 10 spots, with Toronto-based PlateSpin ranking #2 overall with an astounding revenue growth rate of 21,519%; Toronto’s Tira Wireless Inc. tied for #3 ranking with an Ottawa-based company (16,610%); Toronto-based MyThum Interactive Inc. ranks #4 (13,900%); Toronto’s Impact Mobile Inc. ranks #5 (10,455%); Toronto’s Vizible Corp. ranks #6 (9,879%); Markham’s Camilion Solutions, Inc. ranks #7, (9,162%); and Toronto-based ViXS Systems, Inc. ranks #8 (6,462%.)

Ten other GTA companies are among the Technology Fast 50: Woodbridge-based RuggedCom Inc. ranks #14 (1,601%); Redline Communications of Markham ranks #16 (1,417%); BlueCat Networks, Inc. of Toronto ranks #18 (1,219%); Toronto-based Eloqua Corp. ranks #27 (747%); Grey Island Systems International, Inc. of Toronto ranks #28 (715%); AirIQ Inc. of Pickering ranks #33 (586%); Truition Inc. of Toronto ranks # 34 (565%); Exposoft Solutions Inc. of Mississauga ranks #35 (532%); PointClickCare (Wescom Solutions Inc.) based in Mississauga ranks #36 (509%); and Enghouse Systems Ltd. of Markham ranks #48 (351%.)

Seven companies from the GTA received Companies-to-Watch Awards, presented to successful early-stage technology companies in business less than five years, which demonstrate the management experience and superior technology required for continued growth. They are: Airline Intelligence Systems of Toronto; Axiom Real-Time Metrics Inc. of Oakville; Mississauga-based Brandimensions; and four additional Toronto-based companies—First Coverage, Octopz Inc., Spatial View Inc. and xkoto Inc.

Five GTA companies are recognized with the inaugural Technology Green 15 Awards: Mississauga-based 6N Silicon Inc., Toronto-based Azure Dynamics Inc., EnviroTower of Toronto, GEEP Inc. of Barrie; and REGEN Energy Inc. of Toronto.

Ruffolo attributes the GTA’s ability to claim the title of Canada’s technology hotspot to its strength across various sectors. “The GTA is home to a diverse cluster of technology companies, ranging from telecommunications to software and hardware developers, and with green technologies quickly emerging as a lucrative new sector, the region is well placed to continue its momentum.”

“Deloitte created the Deloitte Technology Fast 50 program a decade ago to celebrate the world-class achievements of Canadian technology companies,” said John Ruffolo, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. “Companies from the GTA are a perfect example of the combination of revenue growth, technological innovation and entrepreneurial spirit that continues to be a winning formula in the technology sector.”

Canadian technology continues explosive growth on world stage

This year’s winning companies posted an average growth rate of 3,732%. Waterloo-based Sandvine tops the list, followed by Toronto-based PlateSpin (21,519% growth,) a developer of data centre automation software. Two companies share third spot at 16,610%: Ottawa-based BTI Photonic Systems Inc., which makes optical networks and Toronto-based Tira Wireless Inc., whose software enables wireless applications. Rounding out the top five are Toronto-based MyThum Interactive Inc. (13,900%), a mobile interactive media technology-provider and Impact Mobile Inc. (10,455%), which provides mobile marketing solutions.

Dotcom bust sowed seeds for today’s second wave of technology success

The astounding success Canadian technology companies are achieving today has its roots in the dotcom boom from 1997-2001. In fact, 60% of ranked companies were founded during this time and today we’re starting to see the coming of age of companies created when venture capital reached its funding peak in the late 1990s. In addition, the dotcom bust that followed 2001 laid the foundation for the success of many of today’s winning companies – seasoned management teams and world class research and development.

The future is green and wireless: software sector still dominant but evolving

Software is still the dominant category in the ranking at 53%, but enterprise software applications are giving way to new applications such as digital media, server virtualization and managed services. Telecommunications remains the second-largest represented sector at 30%, followed by hardware at 16% and emerging technologies at 2%. Although the wireless sector continues to thrive, the big story in 2007 is the unprecedented emergence of green technology companies. Although some of these companies have been around for years, they have finally arrived, with venture capitalists and major technology players taking note and a stake in the game.

CEOs reveal strategies and concerns around growth

A recent survey of this year’s winning company CEOs found that although they are generally optimistic about the future, they are concerned about two major issues that have the potential to impact company growth: Canadian taxation policy and currency exchange rates. The survey also found that CEOs plan to achieve growth this year by focusing on hiring world-class Canadian talent, developing world-class intellectual property (research and development continues to be a major focus for investment) and expanding into global markets (due to Canada’s small domestic market for their products.)

Regional representation of Canada’s technology hotspots

While the Greater Toronto Area (GTA), Ottawa, and companies from Southwestern Ontario combine to produce more than half of Deloitte Technology Fast 50 winning companies, other regions also show strength. Quebec and the Greater Vancouver Area (GVA) each boast nine winners, four hail from Calgary, and Atlantic Canada has two winners.

A decade of recognizing Canada’s leading technology companies

Since 1997, the Deloitte Technology Fast 50 program has mirrored the tremendous evolution of the Canadian technology industry. In addition to the Technology Fast 50, the program now includes Leadership Awards, Companies-to-Watch Awards, and Deloitte Technology Green 15 Awards.

Leadership Awards

Leadership Awards single out companies that are the elite members of the Canadian technology industry, whose ability to create a distinct competitive advantage in a high-growth market is allowing them to dominate their sector and quickly join the ranks of other Canadian global leaders. This year’s four Leadership Awards recipients are: Technology Fast 50 winner, Sandvine; Bridgewater Systems, a developer of access control software for wireless and wireline service providers; SMART Technologies Inc., which makes business collaboration tools; and Xantrex Technology Inc., which supplies advanced power electronics.

Companies-to-Watch Awards

Based on the same criteria as the Deloitte Technology Fast 50, this award honours early-stage Canadian technology companies in business less than five years, with the potential to be a future Deloitte Technology Fast 50 candidate. For example, two Companies-to-Watch winners from last year, Sandvine and Impact Mobile Inc., rose to the upper echelon of the 2007 Deloitte Technology Fast 50 ranking this year. Ten companies are recognized as Companies-to-Watch this year: Airline Intelligence Systems, Axiom Real-Time Metrics Inc., Brandimensions, ENABIL Solutions Ltd., Enablence Technologies Inc., First Coverage, Octopz Inc., “RapidMind Inc.”:http://www.redcanary.ca/view/profile-rapidmind, Spatial View Inc., and xkoto Inc.

Deloitte Technology Green 15 Awards

New in 2007, these awards honour companies creating innovative, important and economically-viable intellectual property in the burgeoning field of green technology. Deloitte Technology Green 15 companies are judged on technology solutions that deliver a significant environmental impact and a compelling return for their clients. The 15 inaugural winners are: 6N Silicon Inc., Azure Dynamics Inc., Distech Controls, Inc., EnviroTower, GEEP Inc., Optimal Technologies, Plutonic Power Corporation, QuestAIR Technologies Inc., REGEN Energy Inc., Sempa Power Systems Ltd., Smartcool Systems Inc., Sustainable Energy, VRB Power Systems Inc., Westport Innovations Inc., and Xantrex Technologies Inc.

About the Deloitte Technology Fast 50

This year marks the 10th anniversary of the Deloitte Technology Fast 50 program, which celebrates 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 (recognizing companies creating innovative and economically viable intellectual property in the field of green technology.) Program sponsors include Deloitte, Gowlings, GrowthWorks, CIBC World Markets, Stonewood Group, Behr & Associates, and CATAAlliance. For further information, visit www.fast50.ca or call 1-888-6FAST50.

About Deloitte

Deloitte, one of Canada’s lading professional services firms, provides audit, tax, consulting, and financial advisory services through more than 6,800 people in 51 offices. Deloitte operates in Québec as Samson Bélair/Deloitte & Touche s.e.n.c.r.l. The firm is dedicated to helping its clients and its people excel. Deloitte is the Canadian member firm of Deloitte Touche Tohmatsu. Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other’s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names “Deloitte,” “Deloitte & Touche,” “Deloitte Touche Tohmatsu,” or other related names. Services are provided by the member firms or their subsidiaries and not by the Deloitte Touche Tohmatsu Verein.

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