Voltaire, a leading developer of server and storage switching solutions, was ranked the fastest growing technology company in Israel by Deloitte Brightman Almagor Fast 50 reflecting a rise in the company's sales from $60,000 to $30 million within five years.
"The results [of the annual study] show that the Israeli hi-tech industry continues to be driven by firm and remarkable growth," said Igal Brightman, chairman and CEO of Deloitte Brightman Almagor. "The majority of revenue growth is generated from exports of Israeli technology, which is strengthening the Israeli economy."
At the same, though, Brightman raised concern over the fact that the Israeli hi-tech industry was employing only 10 percent of the country's work force.
"The hi-tech industry in Israel has created a league of millionaires, which in turn is widening the social gaps and thus much more needs to be done in terms of investment into education and technological enhancement programs for young people," Brightman said.
The Deloitte Brightman Almagor Technology Fast 50 is an annual ranking of the 50 private and publicly-held fastest growing technology companies in Israel, based on percentage revenue growth over a five-year period.
Celltick, a pioneer in promoting mobile phone advertising content placed second in the 2007 Technology Fast 50 ranking, while Runcom Technologies, a provider of enhanced communications services to cellular phones and other mobile devices, came in third.
Revenue growth rates at the 2007 Technology Fast 50 companies more than doubled with an average of 3,326% over the 2002 to 2006 period compared to the 1,610% shown by the 2006 Fast 50 companies. The top 10 companies grew an average of 14,163%, a significant increase compared to last year's top 10 companies that averaged a growth percentage of 6,413%.
The Deloitte Technology Fast 50 is a global program that began in the US in 1995 and was launched in Israel in 2000. The competition runs in 15 US regions, Canada, Denmark, Finland, France, Germany, Ireland, Russia, Sweden, Netherlands, Turkey, the UK, Central Europe, Hong Kong, China, India, New Zealand, Japan, South Korea and Taiwan.
The 2007 Technology Fast 50's Top 10
1. Voltaire Ltd., a developer of server and storage switching solutions.
2. Celltick Technologies, a pioneer in promoting mobile phone advertising content.
3. Runcom Technologies, a provider of enhanced communications services to cellular phones and other mobile devices.
4. Red bend Software Ltd., a provider of mobile software management solutions
5. Wintegra Inc.. a market leader in access processors enabling new communications services.
6. Mobixell Networks Ltd., a developer of multimedia and advertising solutions for mobile operators, mobile content and service providers.
7. BioView Ltd., an automater of laboratory tests and developer of new tests for cancer detection.
8. Modelity Technologies Inc.. a provider of financial advice and structured products technologies.
9. Alma Lasers Ltd., a developer of laser devices for aesthetic and medical applications.
10. Actimize, a provider of products that help financial services institutions manage transactional risk.