BelAir Networks Ranked the Tenth Fastest Growing Technology Company in Canada in the Deloitte Technology Fast 50TM
3549% Growth over 5 Years Reflects BelAir Networks Market Share Leadership in Wi-Fi Solutions for Service Providers
Kanata, ON, October 1, 2009 - BelAir Networks is ranked among the Deloitte Technology Fast 50TM, a ranking of the 50 fastest growing technology companies in Canada, based on the percentage of revenue growth over five years. BelAir Networks increase in revenues of 3,549 percent from 2004 to 2008 resulted in the ranking.
For over 12 years, the Deloitte Technology Fast 50TM program has tracked the successful growth of Canadian-grown global leaders and is now Canada's pre-eminent technology award program.
"Canadian technology companies have demonstrated some very impressive growth numbers over the past year, amid the challenges of a global recession," said John Ruffolo, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. "BelAir Networks is an example of the determination, drive and skill that will serve to position them for further growth and success as the economic recovery takes hold."
Bernard Herscovich, BelAir Networks President and CEO, attributes the 3,549 percent revenue growth to the company's success in partnering with Tier 1 service providers. Herscovich said, "BelAir Networks has always focused on delivering carrier-grade mobile broadband networking solutions. With the recession-proof growth of smartphones, like the iPhoneTM, and other Wi-Fi enabled devices, our major cable and mobile operator customers are using BelAir Networks solutions to attract and retain broadband subscribers and offload data traffic from their 3G networks."
To qualify for the Deloitte Technology Fast 50TM ranking, companies must have been in business for at least five years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, and conduct research and development activities in Canada. A panel of industry experts evaluate and judge companies based on four key criteria: competitive advantage; size, growth, and market attractiveness; management effectiveness and organization; and financial performance.
About the Deloitte Technology Fast 50TM
The Deloitte Technology Fast 50TM program is Canada's pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features four distinct categories including the Technology Fast 50TM Ranking, Companies-to-Watch Awards (early-stage Canadian tech companies in business less than five years, with the potential to be a future Deloitte Technology Fast 50TM candidate,) Leadership Awards (companies that demonstrate technological leadership in four industry subcategories: hardware/semiconductor, software, telecommunications and emerging technologies) and the Deloitte Technology Green 15TM Awards (Canada's leading GreenTech companies that promote a more efficient use and re-use of the earth's resources in industrial production and consumption.) Program sponsors include Deloitte, Gowlings, GrowthWorks, RBC, Wellington Financial, Stonewood Group, HKMB Hub, CATAAlliance, CleanTech Group, IGLOO, ITAC, MaRS and Microsoft. For further information, visit www.fast50.ca.
About BelAir Networks
BelAir Networks is the market share leader in Service Provider Wi-Fi solutions. The company's portfolio of indoor and outdoor wireless LAN access points, control and management systems enable service providers, government and businesses to deliver high performance, scalable and flexible managed Wi-Fi services to both enterprise and public users. BelAir Networks solutions provide a compelling return on investment and address the need for public Wi-Fi hot spots and hotzones, secure wireless LAN, cellular data offload, wireless backhaul, surveillance, and smart grid networks. Innovative cable, telecom and mobile service providers and government, education, retail, hospitality, healthcare, mass transit and property management customers use BelAir Networks to drive revenue and improve competitiveness. Founded in 2001, BelAir Networks is a privately held company backed by investment from leading venture capital firms including Comcast Interactive Capital, T-Mobile Venture Fund and Trilogy Equity Partners. For more information, visit www.belairnetworks.com.
Contact
BelAir Networks
Sheila Burpee Duncan
613.254.7070 ext. 134
sburpeeduncan@belairnetworks.com