- Alphawave IP Announced as a Recipient of Deloitte's 2022 Technology Fast 50™ and North American Technology Fast 500™ Awards
The company was recognized for its 2,658% increase in revenue growth and is poised to accelerate its growth following major acquisitions
TORONTO, Nov. 17, 2022 /PRNewswire/ -- Alphawave IP (LSE: AWE), a global leader in high-speed connectivity for the world's technology infrastructure, today announced that the company has been recognized as a recipient of Deloitte award programs 2022 Technology Fast 50™ and North American Technology Fast 500™ for rapid revenue growth, entrepreneurial spirit, and bold innovation.
Celebrating its 25th anniversary, Deloitte's Technology Fast 50™ ranks Canada's 50 fastest-growing public and private technology companies that are transforming the industry based on the highest percentage growth in revenue over the past four years. Alphawave IP ranks 10th with 2,658% revenue growth from 2018 to 2021.
Winners are automatically eligible for the broader Deloitte North American Technology Fast 500™ prize. Alphawave IP's rapid growth was also recognized and the company is ranked 65th on the North American Technology Fast 500™ list.
Alphawave IP CEO and co-founder Tony Pialis attributes the strong revenue growth to the company's innovative high-speed connectivity technology. "It is a great honor to receive this award and to have our growth in the North American market recognized. Alphawave is well positioned to accelerate its growth with the recent acquisitions of Banias Labs and OpenFive, bringing custom silicon and optical technology to our product portfolio. , and we are excited to continue on our path to become a leader in the connectivity industry."
"It is inspiring to see how the exceptional cohort of winners in this year's Technology Fast 50 program have achieved extraordinary revenue growth, even in the face of prevailing economic and market uncertainties," said Anders McKenzie, partner and national leader of the program. Deloitte Canada's Technology Fast 50. "Driven by exemplary innovation, creativity, resilience and adaptability, along with superior business leadership, these companies are leading the way as catalysts in their respective industries, bringing growth and value to the Canadian economy both at home and abroad."
To qualify for the Deloitte Technology Fast 50, companies must have been in business for at least four years, have revenues of at least $5 million, be based in Canada, have proprietary technology, conduct research and development activities in Canada and invest a minimum of five percent of gross income in R&D.
To be eligible for Technology Fast 500 recognition, companies must own proprietary technology or intellectual property that is sold to customers in products that contribute the majority of the company's operating income. Businesses must have base year operating income of at least $50,000, and current year operating income of at least $5 million. Additionally, companies must have been in business for a minimum of four years and be based in North America.
About the Deloitte Technology Fast 50™ program
The Deloitte Technology Fast 50 program is the largest technology awards program in Canada. Celebrating its 25th anniversary, the program recognizes business growth, innovation and entrepreneurship in four distinct categories: Technology Fast 50 Ranking, Enterprise Fast 15, Clean Technology and Companies-to-Watch. The program also recognizes companies within the North American Technology Fast 500 ranking, which identifies thriving technology companies in the United States and Canada. Sponsors for the 2022 program are Deloitte, RBCx, Osler, EDC, CBRE, Vector Institute, Council of Canadian Innovators (CCI), Clarity Recruitment, Lafond and TMX. For more information, visit the website www.fast50.ca.
About the 2022 Deloitte Technology Fast 500™ Program
In its 28th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, financial technology and energy technology companies - both public and private - in North America. Technology Fast 500 winners are selected based on percentage growth in fiscal year revenue between 2018 and 2021. To be eligible for Technology Fast 500 recognition, companies must own proprietary technology or intellectual property that is sold to customers on products that contribute the majority of the company's operating income. Businesses must have base year operating income of at least $50,000, and current year operating income of at least $5 million. In addition, companies must have been in business for a minimum of four years and be based in North America. For more information, visit the website www.fast500.com.
About Alphawave IP
With data growing exponentially, Alphawave IP technology addresses a critical need: enabling data to travel faster, more reliably, and with higher performance at lower power. Alphawave IP is a global leader in high-speed connectivity for the world's technology infrastructure. Our IP solutions meet the needs of top-tier global customers in data centers, computing, networking, AI, 5G, autonomous vehicles, and storage. Founded in Toronto, Canada in 2017 by an expert technical team with a proven track record in semiconductor IP licensing, our mission is to focus on the toughest connectivity challenges to solve. To know more about Alphawave IP, please visit the website: awaveip.com
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