Waltham, Mass. - October 23, 2007 - OpenPages today announced that it has been ranked number 173 on Deloitte's 2007 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America. Rankings are based on percentage of fiscal year revenue growth over five years, from 2002-2006. OpenPages grew 949 percent during this period.
OpenPages' CEO Michael J. Duffy attributes the company's 949 percent revenue growth over the past five years to the company's ability to successfully adapt to changing customer needs for enterprise risk and compliance management. He said, "To once again be identified as a Deloitte Technology Fast 500 company, and the highest ranked GRC vendor on the list, is an exceptional accomplishment, one that highlights that businesses continue to choose OpenPages risk management solutions to optimize business performance."
In addition to ranking on Deloitte's Technology Fast 500, OpenPages ranked 20 on the New England Technology Fast 50, which is a ranking of the 50 fastest growing technology firms in the area.
"Sustaining high revenue growth over five years is an exceptional accomplishment," said Phil Asmundson, vice chairman, U.S. Technology, Media and Telecommunications, Deloitte & Touche USA LLP. "We are proud to honor OpenPages with a ranking on the Deloitte Technology Fast 500 list."
Fast 500 Selection and Qualifying Criteria
The Fast 500 ranks the fastest growing technology, media, telecommunications and life sciences companies in North America. It is compiled from Deloitte's 16 regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research. Companies are selected based on percentage revenue growth from 2002 to 2006.
Entrants must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues or devote a significant proportion of revenues to research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify. Base-year operating revenues must be at least $50,000 USD or $75,000 CD, and current-year operating revenues must be at least $5 million USD or CD. Companies must be in business a minimum of five years, and they must be headquartered within North America.
About OpenPages
OpenPages is the leading provider of enterprise risk management solutions that optimize business performance. OpenPages empowers the world's largest companies by unifying governance, risk and compliance across the enterprise and by incorporating risk management into day-to-day business processes. Founded in 1996, the company is headquartered in Waltham, Massachusetts, with international offices in Japan and the United Kingdom, and regional offices throughout North America.
