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Press release from PR Newswire

Deloitte Announces 2012 Technology Fast 500? Rankings

Wednesday, November 14, 2012

Deloitte Announces 2012 Technology Fast 500? Rankings08:00 EST Wednesday, November 14, 2012Tesla Motors, Inc. Zooms into First Place; Innovation "Hot Spots" Continue to SizzleSAN FRANCISCO, Nov. 14, 2012 /PRNewswire/ -- Deloitte announced the 2012 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. (Logo: http://photos.prnewswire.com/prnh/20120803/MM52028LOGO-a )(Logo: http://photos.prnewswire.com/prnh/20120803/MM52028LOGO-b )Tesla Motors, Inc. (NASDAQ: TSLA) clinched the top spot with fiscal year 2011 revenue of $204.24 million and a growth rate of 279,684 percent from 2007 to 2011. Based in Palo Alto, Calif., the company designs and manufactures electric vehicles and electric vehicle power train components."The 2012 Deloitte Technology Fast 500 winners have demonstrated remarkable innovation and spectacular growth," said Eric Openshaw, vice chairman and U.S. technology, media and telecommunications leader, Deloitte LLP.  "Some of the most exciting and useful developments of the future are being created by the companies on this list. We congratulate Tesla and all of the winning companies on this impressive achievement.""Tesla took great strides as a company this past year by successfully delivering Model S, the world's first premium electric sedan to customers, and executing a steep production ramp while creating more than 2,000 jobs in the U.S. We also expanded our partnerships with Toyota and Daimler in order to increase sales of electric vehicles globally," said Deepak Ahuja, chief financial officer at Tesla Motors. "We are honored to be part of a sector that continues to achieve high growth, and are committed to building the best car in the world while setting new standards for efficiency, safety, style, technology, operating cost and performance. We thank Deloitte for this recognition."The top ten ranked companies are as follows:2012 RankCompanySectorRevenue Growth (2007 to 2011)City, State1Tesla Motors, Inc.Clean technology279,684 percentPalo Alto, CA2Palo Alto NetworksCommunications/Networking    166,938 percentSanta Clara, CA3Sagent Pharmaceuticals, Inc.Biotechnology/ pharmaceutical146,443 percentSchaumburg, IL4FireEye, Inc.Communications/Networking55,413 percentMilpitas, CA5Aerohive Networks, Inc.Communications/Networking44,569 percentSunnyvale, CA6Avail-TVN Media and entertainment38,479 percentReston, VA7NeoStemBiotechnology/pharmaceutical31,721 percentNew York, NY8Avigilon Corporation Software 29,917 percentVancouver, BC9Recondo TechnologySoftware25,482 percentGreenwood Village, CO10EcoSynthetix Inc. Clean technology25,327 percentBurlington, ONInnovation hot spots continue to sizzleDeloitte Technology Fast 500 winners hail from cities far and wide across North America - from Portland, Maine; to Denver, Colo.; to Vancouver, British Columbia. Of the dozens of cities represented on the list, some have a particularly strong track record of consistently attracting inventive entrepreneurs and providing them with a supportive environment. "Creative and cutting-edge cities often have several things in common including access to capital, supportive local governments, and world-class education systems," said Bill Ribaudo, national technology, media and telecommunications leader for audit and enterprise risk services, Deloitte & Touche LLP. "Many of these cities have the resources and culture that startups need to thrive, and so they have become innovation powerhouses and consistently turn out fast-growing companies year over year."Following is a list of innovative cities with a significant concentration of winners.LocationPercent of ListFastest-growing Company in the RegionCompany OverallRankingSan Francisco Bay area20 percentTesla Motors, Inc.1Boston9 percentHubSpot17New York6 percentNeoStem7Los Angeles6 percentEdgeCast Networks13Washington D.C.6 percentAvail-TVN6Philadelphia6 percentMeetMe, Inc.32San Diego6 percentOptimer Pharmaceuticals, Inc. 15Toronto5 percentEcoSynthetix Inc. 10Software still dominates For the seventeenth consecutive year, software companies dominated the list, comprising 40 percent of the overall list with 200 companies.  Consistent with prior rankings, the biotechnology/pharmaceutical, internet, and communications/networking sectors also had strong showings.  The biotechnology/pharmaceutical sector and internet sectors were tied for second place with 13 percent of the list, and the communications/networking sector came in at a close third place with 12 percent of the list.Sector rankings are as follows:Sector Sector make-up of Fast 500 Fastest-growing Company in the Sector CompanyOverallRankingCity, StateSoftware40 percentAvigilon8Vancouver, BCBiotechnology/Pharmaceutical13 percentSagent Pharmaceuticals, Inc.3Schaumburg, ILInternet13 percentEdgeCast Networks13Santa Monica, CACommunications/Networking12 percentPalo Alto Networks2Santa Clara, CAClean Technology7 percentTesla Motors, Inc.1Palo Alto, CAMedical devices5 percentMAKO Surgical Corp.18Fort Lauderdale, FLMedia and entertainment4 percentAvail-TVN6Reston, VASemiconductor3 percentSiTime Corporation38Sunnyvale, CAComputers/peripherals2 percentLayer 7 Technologies 183Vancouver, BCScientific/technical instrumentation1 percent Obzerv239Quebec, QCFor additional detail on the Technology Fast 500 including the complete list and qualifying criteria, visit www.fast500.comAs used in this document, "Deloitte" means Deloitte LLP and its subsidiaries.  Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.  Certain services may not be available to attest clients under the rules and regulations of public accounting. SOURCE DeloitteFor further information: Jessica Heine, Public Relations, Deloitte, +1-415-783-5007, jheine@deloitte.com