PRZOOM - /newswire/ -
Mountain View, CA, United States, 2006/10/30 - SumTotal® Systems, the largest provider of talent and learning solutions, announced that it has been named to Deloitte’s prestigious Technology Fast 50 Program for Silicon Valley, a ranking of the fastest-growing technology. NASDAQ: SUMT
SumTotal® Systems, named to Deloitte’s prestigious Technology Fast 50 Program for Silicon Valley, a ranking of the fastest-growing technology, media, telecommunications and life sciences companies in the area by Deloitte & Touche USA LLP, one of the nation’s leading professional services organizations. Rankings are based on the percentage revenue growth over five years from 2001 to 2005.
SumTotal Systems’ CEO Don Fowler credits SumTotal’s M&A strategy as well as operational excellence with the company's 140 percent revenue growth from 2001 to 2005. SumTotal’s learning management software delivers learning and manages employees’ skills via the Internet.
“Our vision for SumTotal was to create the world’s leading provider of learning management software,” said Fowler. “Through mergers and acquisitions as well as operational excellence, we created a company that we believe is the category leader in its space by every measure, including revenue – over $100 million annual revenue run rate; customers, of which we have 1,500; employees – more than 700; and market share totaling 20 percent.”
“Sustaining high revenue growth over five years is an exceptional accomplishment. We commend SumTotal for making the commitment to technology and delivering on the promise of market longevity,” said Mark Jensen, National Director of the Venture Capital Services Group for Deloitte & Touche LLP in San Jose. “We are proud to honor SumTotal as a Deloitte Technology Fast 50 winner.”
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2001 and $5,000,000 in 2005, be headquartered in North America, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify.
Winners of the 16 regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte’s Technology Fast 500 program, which ranks North America’s top 500 fastest growing technology, media, telecommunications and life sciences companies. For more information on Deloitte’s Technology Fast 50 or Technology Fast 500 programs, visit Fast500 website.
This year’s Silicon Valley Technology Fast 50 program is co-presented by Deloitte & Touche USA LLP and Silicon Valley Bank, Cooly Godward Kronish LLP, Korn/Ferry International and Porsche Motorsports.