Additech Ranked Number 141 Fastest Growing Company in North America on Deloitte’s 2009 Technology Fast 500™
Attributes its 1,057 Percent Revenue Growth to its employees’ unwavering commitment to quality, innovation, and customer service
HOUSTON–(BUSINESS WIRE)– Additech today announced that it ranked number 141 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 five-year period from 2004–2008. Additech grew 1,057 percent during this period.
Additech’s CEO, Andrew Austin, credits an unwavering commitment to high-quality products, innovation, and customer service with the company’s 1,057% revenue growth over the past five years. He said, “We’re thrilled to be ranked 141st in the Fast 500. We are fortunate to have such a skilled and dedicated team which has enabled our business to grow rapidly. We thank Deloitte and its co-presenters for this prestigious award.”
“Technology Fast 500™ recognizes innovative companies that have broken down barriers to success and defied the odds with their remarkable five-year revenue growth,” said Phil Asmundson, Vice Chairman and U.S. Technology, Media and Telecommunications leader, Deloitte LLP. “We congratulate Additech on this accomplishment.”
“With its impressive five-year growth, Additech has earned its position among the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America,” said Mark Jensen, Managing Partner, Technology and Venture Capital Services, Deloitte & Touche LLP. ”Deloitte is proud to honor Additech for its achievement.”
Additech previously ranked 108th as a Technology Fast 500™ award winner for 2008.
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 500™ award winners for 2009 are selected based on percentage fiscal year revenue growth during the five-year period from 2004 to 2008.
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 2004 and 2008. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About Additech
Additech, Inc., headquartered in Houston, Texas, is the leading outsourced operator of at-the-pump interactive merchandising systems in North America. Additech’s patented systems, installed on over 4,000 fueling positions, enable fuel retailers to merchandise a variety of products and services to consumers right at the gas pump. The company’s technology seamlessly integrates with fuel dispensers and point-of-sale systems to offer retailers a complete merchandising solution. Additech offers its solutions to fuel retailers on a turnkey services basis, meaning that Additech manufactures, installs, operates, and maintains its equipment on behalf of fuel retailers. Retailers receive a share of Additech’s revenues, without having to make a capital investment while Additech is responsible for operating and maintaining the systems. For more information about Additech and its retailer programs please visit http://www.additech.com.
About Deloitte
As used in this document, “Deloitte” means Deloitte LLP. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.
