NEW YORK, Oct. 20 /PRNewswire/ -- Deloitte today released the 2010 Technology Fast 500™, an annual ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Award winners were selected based on percentage fiscal year revenue growth from 2005 to 2009. For the 13th consecutive year, there are more software companies on the Technology Fast 500™ than any other single sector. Biotechnology companies surged ahead this year, comprising 18 percent of the list, the second most prevalent sector in the 2010 ranking.
"We congratulate the 2010 Deloitte Technology Fast 500 on this impressive achievement," said Phil Asmundson, vice chairman and Deloitte's U.S. technology, media & telecommunications leader. "Established sectors like software once again have a major presence in the ranking. However, nascent sectors like clean tech and media/entertainment should not be ignored, and we expect to see their numbers continue to grow on future Fast 500 rankings."
Sector Trends – Software and Biotech Dominate Software winners represent 38 percent of the overall list, making it the most prevalent sector. Varicent Software Incorporated, a Toronto-based provider of incentive compensation and sales performance management software, is the top-ranked software company, placing sixth on the overall list with 40,269 percent growth from 2005 to 2009.
"One of the reasons software companies often grow so quickly is that their infrastructure costs are usually not as significant as other sectors," said Asmundson. "As companies in other industries learn ways to leverage the disruptive power of cloud computing, they too can benefit from this competitive advantage. Over time we expect to see this trend reflected in our rankings."
Biotech/pharma is the second most prevalent sector in this year's rankings, comprising 18 percent of the Technology Fa
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