MegaPath is ranked one of the Fastest Growing Companies in North America on Deloitte’s 2006 Technology Fast 500 with a 276 percent revenue growth from Broadband Access and Managed IP Services.
MegaPath Inc. announced that it was named to Deloitte’s 2006 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America. Rankings are based on percentage revenue growth over five years, from 2001–2005. MegaPath grew 276 percent during this period.
“MegaPath is widely recognized for providing our customers with innovative, cost-effective communications and network security solutions that help them grow their businesses and remain competitive,” said Jim Cragg, President and COO of MegaPath. “We are extremely proud of our 276 percent growth rate and the recognition of being named to Deloitte’s 2006 Technology Fast 500. This is a direct result of our customer-centric approach and the efforts of our high caliber team.”
“To be successful in today’s increasingly competitive landscape, companies have to be better, smarter, and more innovative than in the past, and the Technology Fast 500 companies are doing exactly that,” said Tony Kern, deputy managing principal of Deloitte’s Technology, Media & Telecommunications industry practice. “We applaud MegaPath for being among the fastest growing companies in North America.”
Fast 500 Selection and Qualifying Criteria
The Fast 500 ranks the fastest growing technology, media, telecommunications and life sciences companies in North America. It is compiled from Deloitte’s 16 regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research. Companies are selected based on percentage revenue growth from 2001 to 2005. Entrants must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company’s operating revenues or devote a significant proportion of revenues to research and development of technology. Using other companies’ technology or intellectual property in a unique way does not qualify. Base-year operating revenues must be at least $50,000 USD or $75,000 CD, and current-year operating revenues must be at least $5 million USD or CD. Companies must be in business a minimum of five years, and they must be headquartered within North America.