FOR IMMEDIATE RELEASE
PR Contact:
Teri Bevan
805.384.9995
tbevan@provideasolutions.com
Ranked 25 with 114 Percent Revenue Growth
Camarillo, CA - October 6, 2006 - Providea, Inc. has been named to Deloitte's prestigious Technology Fast 50 Program for Los Angeles, a ranking of the 50 fastest growing technology 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 2001-2005.
This year's winners of the Los Angeles Technology Fast 50 program were announced at a reception held October 4, 2006 at the Petersen Automotive Museum. The reception was co-presented by Deloitte & Touche USA LLP and Porsche Motorsport, Continental Airlines, Comerica, Marsh, Stradling Yocca Carlson & Rauth, Cresa Partners and Merrill Corporation, in association with the Technology Council of Southern California.
Providea's increase in revenues of 114 percent from 2001 to 2005 resulted in a ranking of 25 on the 2006 Technology Fast 50 for Los Angeles.
Providea's CEO, Tom C. Bailey said, "We view our company as an extension of our customers" telecommunication team and we perform at a level that ensures our relationship will be long term. Each of our solutions are designed to help significantly minimize overall video related costs and give our customer's the peace of mind that they have partnered with the most knowledgeable and experienced provider in the business. Providea's unique bundling of video-centric products, network services, and management solutions are all integrated into ClearTracTM our proprietary billing and network management product. Our success is attributable to our customer's belief in our abilities." Mr. Bailey continued, "It is an honor to be recognized as the 25th 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 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.
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.
