Wintegra Inc. is the winner of this year's Fast 50 competition, held by accounting and consultancy firm Deloitte Brightman Almagor. Wintegra, which develops semiconductors for IP networks, won the award for the fastest-growing technology company in Israel, after posting sales growth of 22,422% between 2001 and 2005.
This is the seventh year that the competition has been held in Israel, as part of the Fast 500 competition held by Deloitte in the EMEA region. In order to take part in the competition , companies need to have a registered patent which has contributed considerably to the company's revenue, and to devote a significant amount of their income to R&D. Their revenue in their first year in Wintegra's case, 2001- must be over $62,000 and more than $1 million in 2006.
In second place came medical equipment developer Syneron Medical Ltd. (Nasdaq: ELOS), which grew by 18,984% in the years 2001-2005. In third place was Runcom Technologies Ltd, which develops chips for WiMAX communications over cellular networks, and which grew by 4,846% in 5 years. All of the companies entered the competition for the first time this year.
The average growth of the 50 companies which participated in the competition this year was 1,610% over the past five years, compared to 746% last year.
Igal Brightman, Chairman & CEO of Deloitte Brightman Almagor and Global Managing Partner of the Technology, Media and Telecommunications (TMT) Industry Group in Deloitte, said that the results of the competition were absolute proof that the local high-tech sector has recovered, and returned to the fastest possible growth rates. Even in comparison to the results of the equivalent competitions in other countries, the Israeli companies show high and stable growth rates.
Published by Globes [online], Israel business news - www.globes.co.il - on November 6, 2006
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