	EUR	=	4.4662		GBP	=	5.5765		USD	=	3.5538
	100 JPY	=	4.4749		CHF	=	3.7195		CAD	=	3.4661

With 7 Companies, Romania Ranks 4th In Deloitte Central Europe Technology Fast 50, 2010

HOMEPAGE	NEWS	BUSINESS DIGEST	MAJOR COMPANIES	COMPANIES	FINANCIAL PROFILES	REAL ESTATE	EVENTS

News	Business news	Company news	Business events

News

Company news

With 7 Companies, Romania Ranks 4th In Deloitte Central Europe Technology Fast 50, 2010

With 7 companies, Romania ranks 4th in Deloitte Central Europe Technology Fast 50, 2010

DELOITTE CONSULTANTA S.R.L. - 19 October 2010

| More

Romania adds another performance in the Deloitte Central Europe Technology Fast 50, with seven software developers ranking in the regional top; Bucharest-based TeamNet International kept last year's second position, while other three Romanian firms gained more positions up in the ranking.

Deloitte Central Europe Technology Fast 50, now in its 11th edition ranks the fastest growing technology companies in the region, based on the growth rate of the revenues they have experienced over the last five years (2004 – 2008). Entrants must also own intellectual property that significantly contributes to the company's operating revenues; or they must devote a significant portion of revenues to research and development of technology.

The list of Romanian finalists includes TeamNet International (headquartered in Bucharest, 2nd place, with a growth rate of 3,120%), AROBS Transilvania Software (Cluj-Napoca, 13th, +831%), Crys Computers (new entry, Bucharest, 18th, +635%), Fortech (new entry, Cluj-Napoca, 19th, +629%), LASTING Software (Timisoara, 23th, +541%), The RED Point (Iași, 26th, +510%), and Advantage Software Factory (Bucharest, 41th, +301%).

Romania joined the competition in 2008 and has been improving its representation since, from 6% (with three companies) to 14% (seven companies) today. This places Romania on the 4th position, after Poland (11), Hungary (10) and the Czech Republic (8).

'Overall, the average revenues growth rate reported by the Romanian finalists has dropped slightly from 1,093% last year to 938%, close to the overall average growth rate of 967%. This is the first time that Romania sees a slower growth rate compared to the whole region, which indicates not only that companies must face a difficult environment given the global downturn, but also that they are slowly, yet definitely maturing as an industry,' Ahmed Hassan, Audit Partner in Charge and TMT Leader Deloitte Romania.

As in previous years, winners of the regional competition will automatically be nominated in the wider competition known as Technology FAST 500 EMEA for companies in Europe, the Middle East and Africa. The Deloitte Technology Fast 500 EMEA 2010 awards ceremony will take place on 25 November at Arsenal Football Club (Emirates Stadium) in London. Last year, Romania had four finalists, double the number in the 2008 edition: TeamNet International (41st), AROBS Transilvania Software (102nd), Lasting Software (360th), and The RED Point (422nd).

Deloitte Central Europe Technology FAST 50 highlights

• This year's average revenue growth of 967% is the third highest in the 11-year history of the program.

• Average growth of the five fastest growing companies was 4,729%, up from last year's 3,526%.

• 2010 Fast 50 total revenue is down from 434 million Euro in the previous year to 378 million Euro, a decrease of 13% for the second year in a row.

• The largest company on the 2010 Fast 50 ranking in terms of revenue was the Slovak anti-virus company ESET.

• Slovakia had the highest average revenue (nearly 30 million Euro in 2009), followed by Estonia (15 million Euro) and the Czech Republic (11 million Euro). In comparison, Poland's average revenue is almost five million euro.

• Poland captured the first position from Hungary, regaining the top spot for the first time since 2005.

• Most companies in the ranking are headquartered in Budapest (10), Prague (7) and Warsaw (6).

• The average age of 2010 Fast 50 companies is 5 years.

• 16 companies made the ranking for the first time.

• Software companies continued their rise in the Fast 50, returning to a dominant position not seen since 2006 (capturing 58% of the ranking). They also posted higher 2009 revenue on average: 8.5 million Euro, compared to 5.6 million Euro for Internet companies, and 2.3 million Euro for Telecommunications/Networking.

• Once again, four out of the top six fastest-growing companies belonged to the Internet sector, indicating the tremendous potential in this segment.

FAST 50 entrants must be a technology company, defined as an owner of proprietary technology that contributes to a significant portion of the company's operating revenues; or as a company that devotes a significant portion of revenues to research and development of technology. Eligibility criteria also include operating revenues of at least 50,000 Euro (revenue must be accounted on a consistent basis during a period of five years); activity of the business for a minimum of five years; an ownership structure that excludes majority-owned subsidiaries of foreign strategic entities; and headquarters within one of the Central European countries participating in the program.

Human Capital, the main focus of technology CEOs

As part of the project, Deloitte is also compiling a survey amongst CEOs of companies across Central Europe who apply to enter the Deloitte Central Europe Technology Fast 50 program. This year, responses of over 110 CEOs participants mainly focused on the quality of their human capital.

• Almost a third of respondents said that their biggest personal challenge in 2010 was mostly from an internal human capital perspective as they see a pressing need to develop leaders and delegate responsibility.

• Achieving and sustaining profitability was supplanted as the top priority by developing leaders and delegating responsibility, indicating that some CEOs have shifted from planning for the short-term to setting long-term goals for their companies' futures.

• A significant 60% said that high-quality employees as more valuable now than in the previous year, as a factor contributing to company growth over the next 12 months

• Access to skilled labor is also considered the biggest threat to growth in the next 12 months (48%)

'Talent is now on the top of the business agenda, it has long surpassed the realm of HR,' said Doina Patrubani, Director Human Capital Advisory Services, Deloitte Consultanta. 'It sits on the CEO table, right next to market-share, revenues and profitability. Knowing what choices to provide to your top talent is a matter of strategy – do we have the specific differentiators to retain and attract all the right people? The FAST 50 companies are at the forefront of building the 21st century workplace with vested interest in developing responsible leaders and investing in the development of their employees.'

In addition to the main award category, Deloitte also acknowledges technology companies that are quickly making a name for themselves - the Rising Stars category, for firms that do not meet the minimum of five years in operation criterion and report lower base year revenues. Fast 50's 10th edition also marks the introduction of a new category - the Big 5 Award, for large companies, with the 2008 turnover exceeding 25 million Euro, which are still experiencing fast growth but cannot compete with the growth rates registered by companies in the top spots.

The Deloitte Central European Fast 50 ranks fast-growing technology companies in the Czech Republic, Hungary, Latvia, Estonia, Poland, Slovakia, Bulgaria, Romania, Serbia, Croatia, Slovenia, Bosnia and Herzegovina and Lithuania.

***

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/ro/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 140 countries, Deloitte brings world-class capabilities and deep local expertise to help clients succeed wherever they operate. Deloitte's approximately 169,000 professionals are committed to becoming the standard of excellence.