Providea, Inc. Named One of Los Angeles’ Fastest Growing Technology Companies in Deloitte’s Technology Fast 50 Program for the Second Consecutive Year
Camarillo, CA - October 3, 2007 – Providea, Inc. has been named to Deloitte's prestigious Technology Fast 50 Program for Los Angeles, a ranking of the 50 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 2002–2006.
This is the second year in a row that Providea was awarded this prestigious honor. This year’s winners of the Los Angeles Technology Fast 50 program were announced at a reception held October 2, 2007 at the Skirball Cultural Center. The reception was co-hosted by Deloitte & Touche USA LLP, Bowne, Cresa Partners, Focus Creative, MARSH, Stradling Yocca Carlson & Rauth and Union Bank of California, in association with Montgomery & Co. and the Technology Council of Southern California.
Providea’s increase in revenues of 163% from 2002 to 2006 resulted in a ranking of 32nd on the 2007 Technology Fast 50 for Los Angeles.
"Deloitte’s Los Angeles Technology Fast 50 companies have shown the strength, vision and tenacity to succeed in today’s very competitive technology environment," said Tony Buzzelli, Vice Chairman and Regional Managing Partner, Pacific Southwest Region, Deloitte & Touche LLP. "We applaud the successes of Providea, Inc. and acknowledge it as one of the very few to accomplish such a fast growth rate over the past five years."
Providea’s CEO, Tom C. Bailey said, "We create management, service, network and equipment offerings to work with our customer’s strengths, enabling both initial and continued success for their videoconference deployments. The response from customers to our combined capabilities has been tremendous and we look forward to continuing growth as we expand our offerings. Every time we sit down with a customer, our goal is to minimize overall video related costs, maximize the functionality that our customer has access to, and provide clean, clear financial benefits through the use of our ClearTrac™ proprietary billing and network management product. We continue to give our customers the peace of mind that they have partnered with the most knowledgeable and experienced provider in the business." Mr. Bailey continued, "It is an honor to be recognized as the 32nd fastest growing technology company in Southern California and to be selected as one of the "best of the best" in our industry.
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2002 and $5,000,000 in 2006, 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.
About Providea
Providea, Inc. is a national company with multiple sales offices strategically positioned throughout the United States. Providea was founded in 1999 by video and network industry veterans with an established track record for delivering solutions that work. The Company was founded to meet the growing industry demands for video communication, and leverages its extensive videoconferencing and network experience to deliver a comprehensive suite of business quality programs and services.
About Deloitte
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Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.
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