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CBNL ranked 36th fastest growing technology company in the UK in the 2010 Deloitte Technology Fast 50
CBNL attributes its 864 Percent Revenue Growth to geographic expansion and continued technology development.
Cambridge Broadband Networks today announced that it ranked Number 36 in the 2010 Deloitte Technology Fast 50, a ranking of the 50 fastest growing technology companies in the UK.
Rankings are based on percentage revenue growth over five years. Cambridge Broadband Networks grew 864 percent during this period.
Cambridge Broadband Network’s CFO, Peter Welch, credits geographical reach across the EMEA region with the deployment of fledgling mobile networks in the emerging markets, with the company’s 864% revenue growth over the past five years. He said,
“The strong and accelerated demand for mobile data services is driving growth for new technologies to meet that demand. Cambridge Broadband Network’s VectaStar solutions are now being widely deployed by operators throughout the world and we expect those deployments to expand considerably. For a 10 year old company, to hit revenue growth of 864% over five years is not only a phenomenal achievement but pays testament to our commitment to technology development.”
David Halstead, Partner leading the Deloitte Technology Fast 50, said:
“The Deloitte Technology Fast 50 gives great profile to technology companies and is internationally recognised as being one of the most important business awards in the sector.
In spite of the challenging financial market conditions, the 2010 Deloitte Fast 50 shows that tremendous growth rates are still possible, with the mobile technology and software sectors showing particular strength.
The Technology Fast 50 awards are an opportunity for businesses to gain recognition for their successes and achievements over the previous 12 months. Successful companies have overcome many challenges to grow their businesses, and maintaining their growth will rely on attracting and retaining the most able staff.”
Survey of the Deloitte Technology Fast 50 companies
The Fast 50 companies cited their biggest operational challenges in managing their rapid growth was hiring and keeping top quality talent (48%). Concerns around systems and process (15%), innovation of new products and services (11%) and increasing customer demand (7%) were the other key issues they had to tackle.