Cambridge Broadband Networks attributes its 864 Percent Revenue Growth to geographic expansion and continued technology development
Cambridge, UK, 25th October 2010 — Cambridge Broadband Networks today announced that it ranked Number 36 in the 2010 Deloitte Technology Fast 50, a ranking of the 50 fastest growing technology companies in the UK. Rankings are based on percentage revenue growth over five years. Cambridge Broadband Networks grew 864 percent during this period.
Cambridge Broadband Network’s CFO, Peter Welch, credits geographical reach across the EMEA region with the deployment of fledgling mobile networks in the emerging markets, with the company’s 864% revenue growth over the past five years. He said, “The strong and accelerated demand for mobile data services is driving growth for new technologies to meet that demand. Cambridge Broadband Network’s VectaStar solutions are now being widely deployed by operators throughout the world and we expect those deployments to expand considerably. For a 10 year old company, to hit revenue growth of 864% over five years is not only a phenomenal achievement but pays testament to our commitment to technology development.”
David Halstead, Partner leading the Deloitte Technology Fast 50, said: “The Deloitte Technology Fast 50 gives great profile to technology companies and is internationally recognised as being one of the most important business awards in the sector”
“In spite of the challenging financial market conditions, the 2010 Deloitte Fast 50 shows that tremendous growth rates are still possible, with the mobile technology and software sectors showing particular strength.
“The Technology Fast 50 awards are an opportunity for businesses to gain recognition for their successes and achievements over the previous 12 months. Successful companies have overcome many challenges to grow their businesses, and maintaining their growth will rely on attracting and retaining the most able staff.”
Survey of the Deloitte Technology Fast 50 companies
The Fast 50 companies cited their biggest operational challenges in managing their rapid growth was hiring and keeping top quality talent (48%). Concerns around systems and process (15%), innovation of new products and services (11%) and increasing customer demand (7%) were the other key issues they had to tackle.
About Cambridge Broadband Networks
Cambridge Broadband Networks provides telecommunications operators with carrier-class wireless point-to-multipoint transmission equipment. The company’s unique approach to backhaul means that its technology provides operators with a highly compelling business case, reducing backhaul costs by up to 60%.
To date, Cambridge Broadband Networks products have been commercially deployed and technically proven in more than 30 countries, and the company continues to expand into new geographical markets as wireless networks become more widespread throughout the world. Privately-held, Cambridge Broadband Networks has headquarters in Cambridge, UK, with offices in Malaysia and South Africa and manufacturing facilities in China.
About Deloitte:
In this press release references to Deloitte are references to Deloitte LLP, which is among the country’s leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu (‘DTT’), a Swiss Verein, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTT and its member firms.
The information contained in this press release is correct at the time of going to press.
For more information, please visit www.deloitte.co.uk.
UK Deloitte Technology Fast 50
The UK Deloitte Technology Fast 50 initiative ranks UK high growth technology companies based on percentage growth in stated revenue over five years. The programme is sponsored by Taylor Wessing, a leading International law firm with a focus on the industries of tomorrow, and Fidelity Growth Partners Europe, a venture and growth capital investor which backs entrepreneur with aspiration for greatness in the IT and clean technology sectors across Europe. Frequently asked questions and details of the winning companies, including breakdowns by industry sector and ranking, will be available on www.deloitte.co.uk/fast50.
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