TORONTO, Nov. 15, 2018 /CNW/ - MMB Networks is presented the Deloitte Technology Fast 50™ program award for its rapid revenue growth, entrepreneurial spirit and bold innovation. The program and annual award distinguishes 50 Canadian technology companies with the highest revenue-growth percentage over the past four years. MMB Networks ranks 39th with 591 percent in revenue growth from 2014 to 2017.
The Deloitte Technology Fast 50 program winners consist of public and private companies in the technology sector, which have transformed the industry. Now in its 21st year, the program runs alongside the broader Deloitte North American Technology Fast 500™, with winners automatically eligible for this elite ranking.
MMB's CEO Tim Angus, credits the company's 591% revenue growth, to MMB having built the most talented, experienced, and best-recognized team in the IoT enablement sector – and the value MMB's RapidConnectTM platform unlocks for customers. Angus said, "we couldn't be more pleased to be recognized on this remarkable list of companies. This achievement is a result of a tremendous amount of hard work by our brilliant and dedicated team here at MMB. Our customers are leaders in their sectors and we appreciate their partnership with us to bring new products to market every day."
"Business is changing rapidly, and what used to work a few years ago isn't a recipe for what will work in the future," said Erica Pretorius, Partner and National Leader for the Technology Fast 50™ program at Deloitte Canada. "Fast 50 winners are a beacon of innovation and I'm looking forward to how they will change the business and technology landscape in the future."
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 the 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 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, 3C Innovation, BCF Business Law, Bank of Montreal, Bennett Jones, CBRE, First West Capital and OMERS Ventures. For further information, visit www.fast50.ca.
About Deloitte's 2018 Technology Fast 500™
Deloitte's Technology Fast 500 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 2014 to 2017.
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, and current-year operating revenues of at least $5 million USD. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About MMB Networks
In the fast-growing IoT industry, MMB Networks delivers the Internet to the Things. Founded in 2008, MMB has been dedicated to the development of reliable end-user customer experiences and fostering growth of the IoT ecosystem. Simply put, MMB helps companies get their products connected and bring them to market with confidence. Using MMB's products and services, customers gain critical access to expanded markets, industry-leading interoperability functionality across major IoT platforms, and drastically reduced development cycles.
MMB offers a full suite of hardware and software products that automates connectivity making it easier for developers and engineers to work through their challenges – and create frictionless user experiences across major IoT platforms, protocols, and devices.
Please see mmbnetworks.com to learn more about our leading edge IoT products and services.
SOURCE MMB Networks
For further information: PR Contact: Brent Brooks, Manager, Marketing Communications, MMB Networks, M: 416-636-3145, E: [email protected]