Thursday, September 20, 2007

Fast 50 led by Green Mountain state firm

A Vermont IT company topped the list of the 50 fastest-growing technology companies in New England, honored last night by Deloitte & Touche USA LLP at an event in Braintree.

South Burlington, Vt.-based iTech US Inc., a 500-person firm with offices in India, ranked No. 1 with a 39,392 percent increase in revenue during the last five years.

ITech is a maker of resource management software combined with business process outsourcing that includes services in accounting, processing and billing.

Deloitte & Touche's annual New England Technology Fast 50 list ranks technology, media, telecommunications and life sciences companies by percentage revenue growth over five years. For this year's 11th annual event organizers reviewed revenue for the years 2002 through 2006.

Eight of the top-10 Fast 50 companies are privately held, according to Deloitte's list. A separate group of eight of the top 10 made their first appearance on the Fast 50. Technology companies made up the majority of Fast 50 companies, with 35 firms on the list. The number of life sciences companies, however, increased to 15 this year from 10 companies on the list in 2005.

Thirty-one companies returned to the Technology Fast 50 this year including Canton-based Network Engines Inc. making its seventh appearance.

The Lowell area continues to be an emerging technology hub with four of the top-five companies headquartered north of Boston.

A special category called "Rising Stars" recognized the fastest growing technology, media, telecommunications and life sciences companies based on revenue growth over three years (2004 to 2006). Recognized companies were: Marlborough's Sepaton Inc. (690 percent), Woburn's LogMeIn Inc. (340 percent), and Weston's GotVMail Communications, (328 percent).

Companies were selected based on percentage revenue growth over five years from 2002 to 2006. The Deloitte & Touche 2007 Technology Fast 50 company ranking is as follows:

1) iTech US Inc., South Burlington, Vt., 39,392 percent;

2) Vestmark Inc., Wakefield, 11,102 percent;

3) Litle & Co., Lowell, 9,821 percent;

4) Airvana Inc., Chelmsford, 3,628 percent;

5) SiGe Semiconductor Inc., Methuen, 3,517 percent;

6) IneoQuest Technologies Inc., Mansfield, 3,400 percent;

7) Endeca Technologies Inc., Cambridge, 2,685 percent;

8) Idenix Pharmaceuticals Inc., Cambridge, 1,845 percent;

9) TheNextRound Inc., Westborough, 1,642 percent;

10) Bullhorn Inc., Boston, 1,596 percent;

11) Cubist Pharmaceuticals Inc.; Lexington, 1,596 percent;

12) NitroMed Inc., Lexington, 1,511 percent;

13) Evergreen Solar Inc., Marlborough, 1,429 percent;

14) Constant Contact Inc., Waltham, 1,325 percent;

15) NeuroMetrix Inc., Waltham, 1,208 percent;

16) iRobot Corp., Burlington, 1,175 percent;

17) SoundBite Communications Inc., Burlington, 1,086 percent;

18) Indevus Pharmaceuticals Inc., Lexington, 1,045 percent;

19) Compete Inc., Boston, 997 percent;

20) OpenPages Inc., Waltham, 949 percent;

21) NameMedia Inc., Waltham, 949 percent;

22) Dealer.com Inc., Burlington, Vt., 948 percent;

23) Vertical Communications Inc., Cambridge, 815 percent;

24) VistaPrint USA Inc., Lexington, 803 percent;

25) Infoscitex Cor., Waltham, 744 percent;

26) Network Engines Inc., Canton, 717 percent;

27) Smarter Living Inc., Boston, 704 percent;

28) VoiceSignal Technologies Inc., Woburn, 665 percent;

29) Agiltron Inc., Woburn, 657 percent;

30) CardioTech International Inc., Wilmington, 595 percent;

31) Veroxity Technology Partners Inc., Bedford, 574 percent;

32) Biogen Idec Inc., Cambridge, 564 percent;

33) IPG Photonics Corp., Oxford, 546 percent;

34) Capital Fulfillment Group Inc., Hingham, 527 percent;

35) Data Intensity Inc., Bedford, 514 percent;

36) Oscient Pharmaceuticals Corp., Waltham, 498 percent

37) ImmunoGen Inc., Cambridge, 445 percent

38) Clinical Data Inc., Newton, 416 percent

39) Sepracor Inc., Marlborough, 401 percent;

40) Salary.com Inc., Waltham, 399 percent;

41) Palomar Medical Technologies Inc., Burlington, 398 percent;

42) OpenAir Inc., Boston, 365 percent;

43) Virtusa Corp., Westborough, 361 percent;

44) Nucryst Pharmaceuticals Corp., Wakefield, 359 percent;

45) Click Tactics Inc., Waltham, 349 percent;

46) Ektron Inc., Nashua, NH, 333 percent;

47) Double-Take Software Inc., Southborough, 325 percent;

48) Caliper Life Sciences Inc., Hopkinton, 318 percent;

49) Hittite Microwave Corp., Chelmsford, 317 percent;

50) Diomed Holdings Inc., Andover, 303 percent.