VANCOUVER, CANADA, Nov. 16, 2015 /CNW/ - Avigilon Corporation ("Avigilon" or the "Company") (TSX: AVO), trusted provider of business intelligence and security solutions, has been named as one of Canada's fastest growing technology companies in the 18th annual Deloitte Technology Fast 50™ awards for the sixth consecutive year. Avigilon ranked 26th among the 50 fastest growing companies that are recognized in 2015 for bold innovation and dedicated leadership, having achieved 352% growth in revenue from 2011 to 2014.
Avigilon has also been recognized on the Deloitte Technology Fast 500™ for the fifth consecutive year, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America.
"We're proud to be recognized once again, and ranked among the leading growth companies, in Deloitte's Fast 50 and Fast 500 Awards Programs," said Alexander Fernandes, Avigilon's Founder, President, Chief Executive Officer and Chairman of the Board. "Our long-term growth is a testament of our commitment to innovation and to the successful ongoing execution of our proven strategy. I congratulate and thank all of our employees for their faithful dedication in consistently achieving these excellent results."
About Deloitte Technology Fast 50™
The Deloitte Technology Fast 50™ program is Canada's pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features three distinct categories including the Technology Fast 50™ Ranking, Companies-to-Watch Awards (early-stage Canadian tech companies in business less than four years, with the potential to be a future Deloitte Technology Fast 50™ candidate) and the Leadership Awards (companies that demonstrate technological leadership and innovation within the industry). Program sponsors include Deloitte, Bank of Montreal, Bennett Jones, OMERS Ventures, and Vistara Capital Partners. For further information, visit www.fast50.ca.
To qualify for the Deloitte Technology Fast 50™ ranking, companies must have been in business for at least four years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, conduct research and development activities in Canada and invest a minimum of five percent of gross revenues in R&D.
About Deloitte Technology Fast 500™
Technology Fast 500, conducted by Deloitte & Touche LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies – both public and private - in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2011 to 2014.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CAD, and current-year operating revenues of at least $5 million USD or CAD. Additionally, companies must be in business for a minimum of four years, and be headquartered within North America.
Avigilon Corporation, trusted provider of business intelligence and security solutions, develops, manufactures, and sells video analytics, network video management software and hardware, surveillance cameras, and access control products.
© 2015, Avigilon Corporation. AVIGILON and the AVIGILON logo are trademarks of Avigilon Corporation.
For further information:
Dennis Fong, Avigilon Corporation
T: (604) 629-5182, Ext 2515
Certain information and statements in this news release contain and constitute forward-looking information or forward-looking statements as defined under applicable securities laws (collectively, "forward-looking statements"). Forward-looking statements normally include words like 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing' and similar expressions, and within this news release include, without limitation, statements (express or implied) respecting: Avigilon's mission, strategies, expected outcomes, and objectives; and projected growth and revenues.
Forward-looking statements are not guarantees of future performance, actions or developments and are based on management's expectations, assumptions and other factors that management currently believes are relevant, reasonable and appropriate in the circumstances including, without limitation: the assumption that Avigilon will be able to successfully execute its mission, strategies and objectives; the assumption that the business and economic conditions affecting Avigilon's operations will continue substantially in their current state, including with respect to industry conditions, general levels of economic activity, regulations, taxes, interest rates, and foreign exchange rates; and the assumption that there will be no adverse material changes to Avigilon's key personnel, facilities, production capabilities, supply chain, sales channels, reseller network, or contractual arrangements.
Although management believes that the forward-looking statements are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Avigilon's business, as more particularly described in the "Risk Factors" section of Avigilon's Annual Information Form dated March 3, 2015, which is available under Avigilon's profile on SEDAR at www.sedar.com. Material risks and uncertainties applicable to the forward -looking statements set out herein include, but are not limited to, unforeseen events, developments or factors causing any of the aforesaid expectations, assumptions and other factors ultimately being inaccurate or irrelevant. Although Avigilon has attempted to identify factors that may cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, predicted, estimated or intended. Also, many of the factors are beyond the control of Avigilon.
Accordingly, readers should not place undue reliance on forward-looking statements. Avigilon undertakes no obligation to reissue or update any forward-looking statements as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements contained herein are qualified by this cautionary statement.
SOURCE Avigilon Corporation