Seven Romanian software developers ranked in the regional top of Deloitte Central Europe Technology Fast 50.
Romania joined the competition in 2008 and has been improving its representation since, from 6 percent, with three companies, to 14 percent, with 7 companies today. This places Romania on the 4th position, after Poland, with 11 companies, Hungary, with 10 companies and the Czech Republic, with 8 companies.
“Overall, the average revenues growth rate reported by the Romanian finalists has dropped slightly from 1,093 percent last year to 938 percent, close to the overall average growth rate of 967 percent. 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,” said Ahmed Hassan, Audit Partner in Charge and TMT Leader Deloitte Romania.
The list of Romanian finalists includes TeamNet International (based in Bucharest, 2nd place, with a growth rate of 3,120 percent), AROBS Transilvania Software (Cluj-Napoca, 13th, +831 percent), Crys Computers (new entry, Bucharest, 18th, +635 percent), Fortech (new entry, Cluj-Napoca, 19th, +629 percent), LASTING Software (Timisoara, 23th, +541 percent), The RED Point (Iasi, 26th, +510 percent), and Advantage Software Factory (Bucharest, 41th, +301 percent).
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).