Adaptik Corporation today announced that it ranked number 200 on Technology Fast 500™; Deloitte LLP’s ranking of 500 of the fastest growing technology, media, life sciences and clean technology companies in North America. Rankings are based on percentage of fiscal year revenue growth during the five year period from 2004-2008. Adaptik Corporation grew 671 percent during this period.
Adaptik Corporation’s President, John Pettit, credits employee commitment and PolicyWriter’s market leading capabilities with the company’s 671% revenue growth over the past five years. He said, “We are extremely proud to be recognized by Deloitte as one of the fastest growing technology companies in North America for the second year in a row; we look forward to continuing this trend. With our deep expertise in the insurance industry we will continue to provide P&C insurers a policy administration solution that addresses the specific challenges that the industry has been facing for decades.”
“Technology Fast 500™ recognizes innovative companies that have broken down barriers to success and defied the odds with their remarkable five-year revenue growth,” said Phil Asmundson, Vice Chairman and U.S. Technology Media and Telecommunications leader, Deloitte LLP. “We congratulate Adaptik Corporation on this accomplishment.”
“With its impressive five-year growth, Adaptik has earned its position among the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America,” said Mark Jensen, Managing Partner, Technology and Venture Capital Services, Deloitte & Touche LLP. “Deloitte is proud to honor Adaptik for its achievement.”
Adaptik Corporation previously ranked 260 as a Technology Fast 500™ award winner for 2008.
Technology Fast 500™ Selection and Qualifying Criteria
Technology Fast 500™ provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. This ranking is compiled from nominations submitted directly to the Technology Fast 500™ website, and public company database search conducted by Deloitte. Technology Fast 500™ award winners for 2009 are selected based on percentage fiscal year growth during the five year period from 2004 to 2008.
In order to be eligible for Technology Fast 500™ recognition, companies must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company’s operating revenues. Using other companies’ technology or intellectual property in a unique way does not satisfy this requirement. Consulting companies, professional service firms, etc. are not eligible unless they have proprietary technology that contributes to a significant portion of their operating revenues.
Technology Fast 500™ award eligibility requirements also include base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. These revenues must have more than doubles between 2004 and 2008. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
Adaptik (Adaptik.com), the creator of PolicyWriter, develops highly adaptive policy administration software solutions that are designed to improve speed-to-market for new products and scale to support large numbers of users and high transaction volumes. They are committed to providing P&C insurers with advanced business functionality while substantially lowering the risks and costs associated with system replacement and maintenance. For additional information on how PolicyWriter can help transform your business visit the website.
As used in this document, “Deloitte” means Deloitte LLP. Please see Deloitte.com/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.