Mobile Interactive Group (MIG) has announced that it ranked number one in the 2010 Deloitte Technology Fast 50, a ranking of the 50 fastest growing technology companies in the UK.
Rankings are based on percentage revenue growth over five years. Mobile Interactive Group grew 26885% during this period.
Mobile Interactive Groups CEO and founder, Barry Houlihan, credited continued investment in proprietary technology, platforms and people, and working with great clients with the company’s 26885% revenue growth over the past five years.
He said: “We’re in a hot, high growth industry and are constantly dealing with rapid changes in devices, products, platforms and user expectations. You need to have a clear vision, a great business model and a very strong culture to deal with that.
“As a global integrated mobile and digital communications business, MIG’s services span mobile commerce, messaging solutions, interactive platforms and mobile advertising, to digital build and application development for all devices. Next year we’re placing a strong emphasis on completing our investment in globally scaling our technology capabilities as well as growing international revenues. We are currently building sales teams and partnerships in markets like the USA, Africa and Asia Pacific and we’ll be relocating some of our senior management and directors to support that growth.”
David Halstead, Partner leading the Deloitte Technology Fast 50, added: “The Deloitte Technology Fast 50 gives great profile to technology companies and is internationally recognised as being one of the most important business awards in the sector.
“In spite of the challenging financial market conditions, the 2010 Deloitte Fast 50 shows that tremendous growth rates are still possible, with the mobile technology and software sectors showing particular strength.
He continued: “The Technology Fast 50 awards are an opportunity for businesses to gain recognition for their successes and achievements over the previous 12 months. Successful companies have overcome many challenges to grow their businesses, and maintaining their growth will rely on attracting and retaining the most able staff.”
This year’s Deloitte Technology Fast 50 highlights the dominance of London, with five of the top ten coming from London and London companies make up 40% of the ranking. Internet companies were typically based in London with eight in the Fast 50.
Scotland has only 2% of companies in this year’s Fast 50, highlighting the fact that technology companies have failed to thrive so far from London. Scottish companies have had a challenging year and Scottish winner, Bloxx CEO, Eamonn Doyle, said: “Many tech startups in Scotland have faltered during the tough economy because they didn’t have enough capital behind them.”
Bloxx is based on the outskirts of Edinburgh, with access to high quality technical graduates, but a more significant challenge is finding good sales staff. “We’re at the wrong end of the country for many clients so we have opened an office in Bracknell and our sales director there has recruited successfully”, Doyle explained.
In contrast, Cambridge continues to fare well with semiconductor and software company, DisplayLink coming in second place. Overall, companies based in Cambridge made up 14% of the ranking.
DisplayLink was actually conceived by an American, Martin King, based in Seattle. However, King quickly realised that his vision to create a company that would develop technology to connect mobile devices to larger visual display units would be most effectively achieved in Cambridge, and so set up his business in the UK.
Craig Ensley, DisplayLink’s president and CEO, said: “Martin King founded the business in 2003 because there was specific expertise in Cambridge around real time networking of visual and graphics information over networks.”