m-hance has been listed in The Sunday Times Hiscox Tech Track 100 for the second year running after achieving record growth of 79 per cent. m-hance has been ranked in 40th position, up 40 places from the annual league table published in 2012, which recognises the fastest growing private technology, media and telecoms companies in the UK.
Now in its thirteenth year, The Sunday Times Tech Track 100 league table (compiled by Fast Track) ranks the UK’s 100 fastest-growing private tech companies over the last three years. In order to qualify, companies need to be unquoted, independent and registered in Britain. m-hance is the second highest climbing business amongst those ranked in the 2012 prestigious list and this year features alongside companies such as Mind Candy and Wonga.
Mark Thompson, CEO of m-hance, comments, “We are thrilled to make the Tech Track 100 for the second year running and finishing in 40th place has not only met our targets, but exceeded them. m-hance has evolved considerably during the last twelve months and I’d like to especially thank our hardworking staff who have played an integral part in our rapid growth by embracing an exciting culture of collaboration and agility.”
m-hance was previously ranked 80th in the Tech Track 100 table as the business achieved year-on-year sales growth of 45 per cent after a series of strategic acquisitions in 2011. Following significant investment into developing the company’s own innovative cloud, mobile and social applications and several new business wins, m-hance’s compounded annual growth rate (CAGR) grew to 79 per cent over the three-year period ending 2012. Over 50 per cent of m-hance’s product revenues now come from its own IP solutions, ensuring financial stability and a decreasing reliance on external solutions to deliver income.
This year has seen the Stockport-based company establish its technical development centre of excellence in Pune, India, and open its new United States office in Boston to support its ambitious worldwide expansion plans. Plans are also afoot for m-hance to double its Stockport-based headquarters in the coming months.
Thompson comments, “As a technology leader, we pride ourselves on our innovative approach – not just to products and services, but to our employees, stakeholders and customers. We will continue to invest well above industry standard rates in developing tailored solutions that provide demonstrable cost and time savings, ensuring our customers gain exceptional value for money and a fast return on their investment.”
Thompson adds, “With the possibility of further acquisitions and exciting new product launches, we will focus on our continued growth for 2014 and beyond, but will balance this by remaining flexible enough to quickly respond to our customers’ needs.”
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