Proteans, a leading outsourced product development company today announced that it is ranked on the Deloitte Technology Fast 500 Asia Pacific 2009, a ranking of the 500 fastest growing technology companies in Asia Pacific. Rankings are based on percentage revenue growth over three years.
According to Sudhakar Gorti, CEO at Proteans Software Solutions,”this achievement is very encouraging for us. The economic background caused prices to fall, but we strived for innovation through cost reduction on existing services generating maximized returns. This was backed by extraordinary support of our staff. ”“Making the Deloitte Technology Fast 500 is commendable in today’s highly competitive technology industry,” said Yoshitaka Asaeda, partner in charge of Deloitte’s Technology Fast 500 Asia Pacific program. “We congratulate Proteans on being one of the 500 fastest growing technology companies in the region.”
In addition to ranking on Deloitteâ€™s Technology Fast 500, Proteans was ranked on the India Technology Fast 50, which is a ranking of the 50 fastest growing technology firms in India.
Overall, companies that ranked on the Technology Fast 500 Asia Pacific 2009 program had an average growth rate of 361 percent.
Technology Fast 500 Asia Pacific selection and qualifications
The Technology Fast 500 list is compiled from Deloittes Technology Fast 50 Asia Pacific programs, nominations submitted directly to the Technology Fast 500, and public company database research. To qualify for the Technology Fast 500, entrants must have had first year operating revenues of at least US$50,000.
Entrants must also be public or private companies headquartered in Asia Pacific and must be a ”technology company,defined as a company that owns proprietary technology that contributes to a significant portion of the company’s operating revenues; Manufactures a technology related product, or devotes a significant proportion of revenues to the research and development of technology.