TORONTO, Sept. 25 /CNW Telbec/ - Grey Island Systems International, Inc
(Grey Island) (TSX.V: GIS) is ranked among the Deloitte Technology Fast 50, a
ranking of the 50 fastest growing technology companies in Canada, based on the
percentage of revenue growth over five years. Grey Island's increase in
revenues of 776 percent from 2003 to 2007 resulted in a 26th ranking.
For over a decade, the Deloitte Technology Fast 50 program has tracked
the successful growth of Canadian-grown global leaders. Now Canada's
pre-eminent technology award program, the Deloitte Technology Fast 50 augments
the broader Deloitte North American Technology Fast 500 initiative, with
winners automatically eligible for this elite ranking.
"Transforming technological innovation into business success is hard, and
it's especially difficult to sustain such rapid revenue growth over five
years. Grey Island has rapidly built a highly successful company in the
Canadian technology industry and we applaud their dedication and ability to
transform their vision into reality," said John Ruffolo, National Leader,
Technology, Media & Telecommunications Industry Group, Deloitte.
Grey Island's President Owen Moore, credits the foresight of Grey
Island's robust underlying systems architecture combined with its unrelenting
market focus on tailoring government fleet applications with the company's
776 percent revenue growth. Moore said, "With several hundred vendors offering
broad GPS/AVL applications, we have consistently distinguished ourselves as a
leader of less than a handful of meaningful competitors in the specialized
government GPS/AVL space. Grey Island delivers rich operations focused
applications chosen by well-informed government officials that extend beyond
the basic fleet maintenance functionality that has become commoditized today."
"Canadian technology companies have some of the highest revenue growth in
North America, while playing in some of the world's largest, most competitive
and exciting market sectors," explains Ruffolo. "Outstanding companies such as
Grey Island demonstrate the incredible business acumen and entrepreneurial
spirit that fuel the Canadian technology industry."
To qualify for the Deloitte Technology Fast 50 ranking, companies must
have been in business for at least five years, have revenues of at least
$5 million, be headquartered in Canada, own proprietary technology, and
conduct research and development activities in Canada. A panel of industry
experts evaluate and judge companies based on four key criteria: competitive
advantage; size, growth, and market attractiveness; management effectiveness
and organization; and financial performance.
About the Deloitte Technology Fast 50 - The Deloitte Technology Fast 50
program is Canada's preeminent technology awards program. Celebrating business
growth, innovation and entrepreneurship, the program features four distinct
categories including the Technology Fast 50 Ranking, Companies-to-Watch Awards
(early-stage Canadian tech companies in business less than five years, with
the potential to be a future Deloitte Technology Fast 50 candidate,)
Leadership Awards (companies that demonstrate technological leadership in four
industry subcategories: hardware/semiconductor, software, telecommunications
and emerging technologies) and the Deloitte Technology Green 15 Awards
(Canada's leading GreenTech companies that promote a more efficient use and
re-use of the earth's resources in industrial production and consumption.)
Program sponsors include Deloitte, Gowlings, GrowthWorks, RBC Capital Markets,
Wellington Financial, Stonewood Group, CATAAlliance and IGLOO.
For further information, visit www.fast50.ca.
About Grey Island
Grey Island Systems International Inc. (TSX-V: GIS), together with its
subsidiaries NextBus Inc. in Alameda, California, InterFleet, Inc. in
New York, New York is a leading provider of custom real-time GPS/AVL, security
and Telematics solutions as well as real-time passenger information systems to
government and related fleets. To find out more about our products and
services, visit our websites at www.interfleet.com or www.nextbus.com.
For further information:
For further information: Grey Island Systems International Inc.: Owen
Moore, (416) 348-9991, (416) 348-9993 (FAX), email@example.com;
www.interfleet.com; Renmark Financial Communications Inc.: John Boidman,
firstname.lastname@example.org; Maurice Dagenais,
email@example.com, (514) 939-3989, Fax: (514) 939-3717;