Adoption of Hosted Voice Applications by World's Major Telecoms Contributes to More than 2,000 Percent Revenue Growth
GAITHERSBURG, MD, October 24, 2006 - BroadSoft, Inc., a leading provider of VoIP application software, today announced that it ranks No. 99 on Deloitte's 2006 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 revenue growth over five years, from 2001-2005. BroadSoft placed within the Top 100, because its revenue grew 2,171 percent during this period.
In addition to ranking on Deloitte's Technology Fast 500, BroadSoft ranked 4th on the Maryland Technology Fast 50, which is a ranking by Deloitte of the 50 fastest growing technology firms in the state of Maryland based on percentage revenue growth.
Michael Tessler, president and CEO of BroadSoft, credited the company's global market penetration and customer base that includes 12 of the world's 25 largest telecommunications providers for BroadSoft's dramatic revenue growth over the past five years.
"Ranking so high in both the fastest growing national and regional lists is a testament to our employees around the globe who are fully committed to maintaining our leadership role in VoIP application software," Tessler said. "Last week we held our executive users conference, BroadSoft Connections, and hosted top officials from 30 countries representing telecom providers and partners. Winning the trust in our products and services from those companies is what placed us in Deloitte's list of Top 100 fastest growing companies."
"Sophisticated technology is becoming the norm and is in almost everything in the 21st century," said Tony Kern, deputy managing principal of Deloitte's Technology, Media & Telecommunications industry practice. "BroadSoft has developed technology solutions that deliver in today's highly competitive world, and we applaud their efforts, ingenuity and teamwork in becoming one of the fastest growing technology companies in North America."
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 16 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 2001 to 2005.
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.
BroadSoft's VoIP application software is revolutionizing the delivery of hosted telephony and multimedia services. Its flagship BroadWorks® technology empowers wireless, wireline and cable carriers to deliver next-generation voice and multimedia applications and advanced features that increase revenue, enhance competitive differentiation and elevate customer satisfaction. BroadSoft's family of carrier-class software products delivers the scale, open architecture and reliability that the world's leading telecommunications companies demand to serve mission-critical enterprise and residential broadband customers. BroadSoft leads the VoIP applications market with 6 of the top 10 and 12 of the top 25 largest carriers worldwide including Korea Telecom, Singtel, Sprint, Telefonica de Espana, Telstra, T-Systems, and Verizon.
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