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Deloitte Technology Fast 500 Awards 2008 released

11 December 2008

31 Kiwi Companies Amongst Asia-Pacific’s
Fastest Growing Tech Companies

Deloitte Technology Fast 500 Awards 2008 released

A total of 31 New Zealand companies were named in the Deloitte Technology Fast 500 Asia Pacific 2008 today in Hong Kong with Hamilton-based online bike retailer Torpedo7 leading the way in 87th place with growth of 571%. It was joined in the top 100 by Auckland-based telco Digital Island which came in 89th with 553% growth.

Rankings of the fast-growing companies are based on the percentage of growth in fiscal year revenues over three years from 2005 to 2007. In 2007 there were 38 New Zealand-based companies ranked in the Technology Fast 500, with 31 making the cut in 2006 and 23 in 2005.

Average revenue growth rate across all 500 fastest-growing technology companies in Asia Pacific reached 707% over the period, the highest level of growth since Deloitte started its rankings in 2002. The most prevalent industry sectors were software (139 of the 500 companies), semiconductors/components/electronics (127) and telecommunications/networking (85).

In terms of geography, the rankings were dominated by Taiwan (112 companies out of the 500), South Korea (100) and India (76). Australia had 45 companies in the Fast 500. Mainland China occupies an increasingly important position in the rankings, with six companies ranked among the 10 fastest growing companies. Two companies from Taiwan and two from South Korea rounded out the top 10.

The overall top-ranked company was the Taiwanese company ILITEK, founded in 2004. It provides semiconductor products for its clients’ applications across the technology sector including for mobile phones, MP3 players, PDAs, and gaming machines. ILITEK experienced phenomenal growth of 93,758% in the rankings period.

John Bell, the partner who leads Deloitte’s Technology, Media & Telecommunications practice in New Zealand, said that any company from these shores that made it to the ranks of the Tech Fast 500 for the region should be very proud of their achievement. “It is a huge effort by these 31 Kiwi companies to get recognized amongst some of our region’s fastest growing technology companies – the message to New Zealand business is that the ability to do some fantastic things on the world stage is not only possible, but already being achieved.”

Of the 31 New Zealand companies ranked this year, 27 have made the Tech Fast 500 in previous years. The four “new faces” are Outpost Central, RimuHosting, SilverStripe, and EMDA. Trade Me returns for the sixth consecutive year and Endace for the fifth year since 2003.

Deloitte also released the results of this year’s Technology Fast 500 Asia Pacific CEO Survey, the firm’s annual analysis of business trends among the winning Technology Fast 500 companies. The survey, conducted in the last quarter of 2008, reveals that in order to achieve continued success, the Technology Fast 500 CEOs will increase their focus on the Asia Pacific region, indicating that they anticipate the Asia Pacific market to remain stronger than other world markets.

More information: Details of the Fast 500 rankings and Deloitte’s annual CEO survey are available at:

Deloitte Technology Fast 500 Asia Pacific 2008
Rankings: New Zealand

Rank Company Name 3-year % growth
87 Torpedo7 570.65
89 Digital Island 552.84
106 Outpost Central 484.32
127 Particle Systems 408.93
134 TrioDent 392.00
138 NextWindow 378.17
156 Catch 337.12
158 RimuHosting 334.42
171 Buzz Channel 318.42
181 Futrix 299.07
200 Ezi-Pay 274.65
227 DoubleDot Media 247.42
246 Enztec 231.78
268 Web Drive 215.08
291 198.49
295 Wellington Drive Technologies 197.75
302 Straylight Studios 191.71
303 Rocket Languages 191.32
334 First Rate NZ 172.92
376 FrameCAD Solutions 154.47
377 Nightside 153.89
387 Chillisoft 149.13
396 SilverStripe 144.28
401 EMDA 142.97
407 IQ Toys 140.48
410 Mako Networks 139.63
428 Trade Me 134.35
450 Hairy Lemon Web Solutions 126.63
462 ServerWorks 122.29
467 Endace Ltd 120.32
482 Zephyr Consulting 114.38

About the Deloitte Technology Fast 500
The Deloitte Technology Fast 500 ranking covers public and private companies across the Asia Pacific region, and is based on a three-year average percentage for revenue growth. The awards are researched and sponsored by the Deloitte Technology, Media & Telecommunications (TMT) Industry Group.

About Deloitte in New Zealand
Deloitte New Zealand brings together more than 900 specialist professionals providing audit, tax, technology and systems, strategy and performance improvement, risk management, corporate finance, business recovery, forensic and accounting services. Our people are based in Auckland, Hamilton, Wellington, Christchurch and Dunedin, serving clients that range from New Zealand's largest companies and public sector organisations to smaller businesses with ambition to grow.

Deloitte's local experts draw on best practice and innovative methodologies from around the world as part of Deloitte Touche Tohmatsu, whose 150,000 people globally serve over 80 percent of the world's largest companies. A long track record and a wealth of international research into the needs of growing organisations has made Deloitte the world's leading advisor to emerging businesses. For more information about Deloitte in New Zealand, look to our website

About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other’s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names “Deloitte,” “Deloitte & Touche,” “Deloitte Touche Tohmatsu,” or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.

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