Navtech: Canada’s 34th Fastest Growing Tech Co.
Oct. 1, 2009, Toronto - Navtech, Inc., a leading flight operations software and services firm, is ranked among the Deloitte Technology Fast 50TM.
October 1, 2009 By Carey Fredericks
Oct. 1, 2009, Toronto – Navtech, Inc., a leading flight operations software and services firm, 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. Navtech’s increase in revenues of 461 percent from 2004 – 2008, resulted in a 34th ranking.
For over 12 years, the Deloitte Technology Fast 50TM program has tracked the successful growth of Canadian-grown global leaders. Now Canada’s pre-eminent technology award program, the Deloitte Technology Fast 50TM augments the broader Deloitte North American Technology Fast 500 initiative, with winners automatically eligible for this elite ranking.
“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. “Navtech 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.”
Navtech’s President & CEO Mike Hulley, credits the expertise and experience of Navtech staff worldwide and Navtech’s dedication to superior customer service with the company’s 461 percent revenue growth. Hulley said, “We are very pleased to continue our status in the Deloitte Fast 50TM program for a 2nd year. This has been an extraordinary year for Navtech. We’ve rededicated ourselves to building a strong brand around our mission to provide affordable, high-quality and mission-critical aeronautical products and services to commercial airlines around the world. We’ve done that by sharpening our focus on our customers’ needs and I feel this honour certainly reflects the payoff of that hard work.”
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 evaluates and judge companies based on four key criteria: competitive advantage; size, growth, and market attractiveness; management effectiveness and organization; and financial performance.