Philadelphia, USA, Hyderabad, India, and London, UK -- (ReleaseWire) -- 10/25/2007 -- AppLabs, the world’s largest independent quality management and testing company, today announced that it ranked 45th on Deloitte’s 2007 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies headquartered in North America. These rankings are based on percentage of fiscal year revenue growth over five years, from 2002–2006. AppLabs grew 3680% during this period.
AppLabs’ Founder, Chairman and CEO, Sashi Reddi, credits hard work and commitment of all the AppLabs employees and the clients who have been there throughout the journey, with the company’s phenomenal revenue growth over the past five years. Reddi continues, “It is an honor to be named in the Deloitte Technology Fast 500 and we are indeed proud to be within the top 50 of the fastest growing companies in North America. This recognition not only reflects our commitment and dedication to customer service from our employees across the globe, but is also a validation of our growth strategy.”
"Deloitte’s Technology Fast 500 recognizes technology companies who have achieved extraordinary growth in North America’s most innovative and competitive sectors,” said Phil Asmundson, Vice Chairman, U.S. Technology, Media and Telecommunications, Deloitte & Touche USA LLP. "We congratulate AppLabs on this significant accomplishment."
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 2002 to 2006.
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.
AppLabs is a global IT services company specializing in quality management, testing, and certification solutions. With over a decade of experience, AppLabs has become a trusted partner to more than 600 companies, providing both quality assurance and third-party validation. Customers include American Stock Exchange, Royal Bank of Scotland, VISA, Zurich, Experian and GE Money. AppLabs goes beyond technical expertise when it comes to IT services and offers customers rigorous risk mitigation processes, a singular focus on quality, expert project management, communication and global delivery capabilities. It is the first software testing company to get appraised at SEI CMMI Level 5, the highest quality standard attainable in software engineering. Headquartered in Philadelphia, the company maintains advanced testing facilities in the US, India and Europe. For more information, visit http://www.applabs.com.
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. Deloitte Touche Tohmatsu is an organization of member firms around the world devoted to excellence in providing professional services and advice, focused on client service through a global strategy executed locally in nearly 140 countries. With access to the deep intellectual capital of approximately 150,000 people worldwide, Deloitte delivers services in four professional areas—audit, tax, consulting, and financial advisory services—and serves more than 80 percent of the world’s largest companies, as well as large national enterprises, public institutions, locally important clients, and successful, fast-growing global companies. Services are not provided by the Deloitte Touche Tohmatsu Verein, and, for regulatory and other reasons, certain member firms do not provide services in all four professional areas.