Openmind Networks today announced that it ranked number 46 in the 2016 Deloitte Technology Fast 50, a ranking of the fastest growing technology companies in Ireland. Rankings are based on average percentage revenue growth over four years.
Openmind’s CEO, Alex Duncan, credits the company’s growth with its continued innovation across the business. He said, “We are delighted to have ranked 46th within Deloitte’s Fast 50. Innovation has been, and will continue to be, fundamental to Openmind’s success and growth. It is a core value that we apply across the business to drive and improve everything we do. We win customers based on the innovative architecture of our core product Traffic Control, enabling our customers to do far more for less. In the last two years alone, we have seen the addition of over 20 new customers”
“We also bring innovation to other aspects of how we work: We use licensing models that allow us to differentiate ourselves commercially from how other companies sell their software, and provide real cost savings to our customers,” continued Alex. “We are quick to adopt new enabling technologies in areas such as cloud computing, so that we can radically improve how we deploy and support our products to the benefit of both ourselves and our clients.”
The Deloitte Fast 50 measures Ireland’s fastest growing indigenous companies in the tech sector. The awards, which are in their seventeenth year in Ireland, recognise the contribution of companies to the overall technology sector in Ireland, and indeed the overall economy. Cumulatively, the 2016 Fast 50 winners generated approximately €1.6 billion in total annual revenues in 2015. The average revenue of companies featuring on the ranking was approximately €31 million, while the average growth rate of the companies over the last four years was 270%. On average, exports account for 61% of turnover for this year’s winning companies, while R&D expenditure represents just under a fifth of turnover (18%).
Announcing the winners of the Deloitte Technology Fast 50 programme, Peter Allen, Partner, Deloitte Belfast said: “We are delighted to be recognising these exceptional and innovative Irish companies. Their contribution to the technology sector is critical to the success of the industry overall in Ireland and it is clear from the turnover derived from exports that they are having considerable success in global markets also. This ambition is hugely encouraging to see and will be increasingly important in a post-Brexit marketplace, where pressure on margins may necessitate diversification into other markets. For this reason, and due to the wealth of opportunity that presents itself, we expect developed and emerging markets to be increasingly important for Irish technology companies. The success that has been achieved to date by the indigenous technology sector leaves them well placed to capitalise on this momentum.”
The Deloitte Technology Fast 50 Awards took place in Dublin on 4 November 2016 and were hosted by science and technology journalist, and founder of Whipsmart Media, Jonathan McCrea. Keynote speaker on the night was Mark Casey, Managing Director, Global Media & Entertainment Leader, Technology, Media & Telecommunications, Deloitte.
Details of the final Technology Fast 50 ranking list are available to download at www.fast50.ie
About Openmind Networks
Openmind’s Communication Platform is deployed in over 120 sites across 30 countries in Europe, Middle East, Asia and North America, powering over 1 Billion transactions every day. Customers include Mobile Operators, Inter-Carrier Operators, Social and Media providers and more recently, direct to consumers in the App space. The technology provides a gateway for communication and the transfer of data that takes place between individuals, groups, Apps, Service Providers and machines. The platform offers their customers all of the interfaces required to deliver and develop these services. Openmind is headquartered in Dublin with regional offices in the Czech Republic, Germany, UAE, USA and the Netherlands.