Glow Networks, Inc. Ranked Number 443 Fastest Growing Company in North America on Deloitte’s 2008 Technology Fast 500
PR Contact: Dev Sridharan,
CFO
Glow Networks, Inc.
(972) 699-1994
dsridharan@glownetworks.com
Attributes its 290% Percent Revenue Growth to teamwork, customer responsiveness and focus on quality.
Richardson, TX, Nov 12, 2008 — Glow Networks, Inc. today announced that it ranked number 443 on Deloitte’s 2008 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 2003–2007. Glow Networks, Inc. grew 290% percent during this period.
Glow Networks Acting CEO, Krish Prabhu credits consistent responsiveness to customer needs and focus on quality with the company’s 290% revenue growth over the past five years. He said, “In these turbulent times, reinventing the company to meet customer needs is the only way to gain more business.”
“Deloitte’s Technology Fast 500 recognizes companies who have achieved extraordinary growth in North America’s most innovative and competitive market sectors,” said Phil Asmundson, Deloitte LLP vice chairman and national managing partner for Technology, Media and Telecommunications. “We congratulate Glow Networks on this significant accomplishment.”
Glow Networks previously ranked 382 in 2006 and 368 in 2007 on Deloitte’s Technology Fast 500.
In addition to ranking on Deloitte’s Technology Fast 500, Glow Networks ranked 39 on the Texas Technology Fast 50, which is a ranking of the 50 fastest growing technology firms in Texas.
Overall, companies that ranked on the 2008 Technology Fast 500 had growth rates ranging from 242 to 138,762 percent over five years, with an average growth rate of 3,043 percent.
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 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 2003 to 2007.
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 Glow Networks, Inc.
Founded in 1999, Glow Networks (www.glownetworks.com) is an established ISO9001/TL9000 certified telecommunications engineering and consulting firm, catering to the needs of telecom equipment vendors and carriers. The company specializes in Wireless Broadband, Wireline (Optical Backbone), VoIP (Soft Switch), IP Multimedia Subsystem (IMS) and Enterprise products.
Glow’s customer-base includes world’s foremost equipment vendors and carriers such as Nortel, Alcatel-Lucent, Motorola, Tekelec, Ericsson and Nokia. Glow provides a range of managed services such as Network Engineering, Order Engineering, Systems Application Engineering, Switch Datafill, Configuration Engineering, Field/Site Engineering, RF Drive Test Services. Besides managed services, Glow Networks also provides skilled resources to its customers as non payroll workforce in the areas of engineering, interoperability testing, deployment (integration, software and hardware upgrades etc), other telecom and IT services).
Besides being named Nortel Networks’ Diversity Supplier of the Year for 2005, Glow Networks ranked 40th in a select list of 100 fastest growing companies in Dallas, was named to Deloitte’s prestigious Texas Technology Fast 50 Program consecutively for three years from 2006 to 2008. Glow was also the winner of the first DiversityNXT NXT Gen Solutions Supplier Award in 2007 and was also placed on the Inc. 5000 list in 2007 and 2008.
About Deloitte
As used in this document, “Deloitte” means Deloitte LLP. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.
