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CTC Cities 'Fast 50'
Ten area firms among fastest-growing tech companies
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Business New Haven
11/12/2001
By: Lisa Micali
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Deloitte & Touche and the Connecticut Technology Council (CTC) have announced the 2001 “Fast 50,” which ranks the fastest-growing technology companies in Connecticut based on five-year percentage revenue growth. The Connecticut Fast 50 is the regional awards program for the Deloitte & Touche national Fast 500, which honors the 500 fastest-growing technology companies nationwide.
Among this year's winners, ten companies from the New Haven area made the list, including: Alexion Pharmaceuticals of Cheshire, New Haven-based CuraGen Corp., Distribution Management Systems of Milford, Forza Basset Technology Solutions of Wallingford, HSS Inc. of Hamden, North Haven-based New Technology Solutions and Precision Combustion, and Shelton-based SAI Systems International, Transcentive Inc. and TranSwitch Corp.
Total revenue growth of all 2001 Connecticut Fast 50 companies over the last five years was more than $2.8 billion, according to David Carver, partner-in-charge of Deloitte & Touche's Technology & Communications Group in Connecticut.
Carver says the Fast 50 companies have several qualities in common. “The companies on this list all have superior technical skill, a fearless attitude toward risk, ambitious determination to meet challenges, persistence in the face of fierce competition and, most importantly, the ability to attract and retain good people.”
Privately held NewTech Technology Solutions made the list for the first time. Founded in 1994, the company is a regional consulting firm that provides staff augmentation and expert-level developer training in XML, Java and Microsoft platforms and tools. “We are very pleased to win this industry recognition,” says Dan Mezick, NewTech's president. Mezick is also chairman of the Greater New Haven Chamber of Commerce's Information Technology Committee.
“Ours is a competitive business,” explains Mezick. “In Connecticut alone, we have over 75 direct competitors. Over the past five years, we have enjoyed a compounded annual growth rate of over 70 percent per year. Getting public recognition of our growth via the Fast 50 is really special.”
Two-time winner Transcentive (formerly Corporate Management Solutions Inc.) of Shelton is a provider of solutions for global employee stock plan management. “Being named to the prestigious Connecticut Fast 50 is formal recognition of the rapid and consistent growth we have enjoyed over the last few years,” says Les Trachtman, Transcentive's president and CEO. “We anticipate not only continued growth for our corporation but more importantly, the introduction of new products and services that will enhance our clients' ability to manage their stock plans both here and abroad.”
To qualify for the award, Fast 50 companies must have 1996 operating revenues of at least $50,000 and 2000 operating revenues of at least $1 million; must be a U.S. company headquartered in Connecticut that develops and/or provides technology products or services; and must have been in business for at least five years
A complete list of Connecticut winners is available at www.fast50.com.
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