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Telerik Recognized as One of 50 Fastest Growing Technology Companies Central and Eastern Europe

October 26, 2009

Achieving growth of 2,327% over the last five years, Telerik placed 5th

Waltham, MA, October 26, 2009 –Telerik, a leading provider of development tools and solutions for the Microsoft .NET platform, today announced it has been awarded fifth place in the 2009 edition of Deloitte’s Technology Fast 50 listing of the 50 fastest growing technology companies in Central and Eastern Europe. The prestigious award reflects Telerik’s rising leadership role in the application development space and recognizes it as one of the most progressively growing companies in the region, proclaiming Telerik to be “a true representation of a modern, cross-border, real-time business.”
“We are proud to be at the top of Deloitte’s distinguished ranking,” said Telerik’s CEO Svetozar Georgiev. “This high achievement can be accredited to our devotion to innovation and quality, sustainable customer and partner relationships, but most of all to our incredible professionals whose hard work made this possible.”

Deloitte’s Fast 50 award provides global acknowledgement to technology firms owning proprietary technology that contributes to a significant portion of the company’s operating revenues or devotes a significant proportion of revenues to the research and development of technology.

“The improved performance compared to last year’s is both in terms of numbers of ranked Bulgarian companies and occupied chart positions,” said Asen Dimov, Partner Audit and Industry leader for the Technology, Media and Telecommunications (TMT) sector in Bulgaria. “While the growth of the Fast 50 companies on average is down from 1,271% in the previous year, the growth of 933% represent a remarkable achievement in the current business climate. This is to show that despite the challenging times, software companies managed not only to survive but progress by finding alternative niches and providing unique quality solutions,” he concluded.

Earlier this year Telerik expanded its North American operations with the opening of two new US offices in order to respond rapidly and dynamically to mounting customer demand for its latest products.

The award is part of the Technology Fast 50 program, which ranks the 50 fastest growing technology, media and telecommunication companies headquartered in Central and Eastern Europe region. Rankings are based on percentage revenue growth over the past three years. Technology Fast 50 winners automatically enter Deloitte's EMEA Technology Fast 500, which ranks the 500 fastest growing technology companies in Europe, Middle East and Africa. The ranking is based on the financial percentage growth over the course of five years. For more information on Deloitte's Technology Fast 500 or Technology Fast 50 programs, visit http://www.fast50ce.com
 

About Telerik
Telerik empowers its customers to create compelling app experiences across any screen. Our end-to-end platform uniquely combines industry-leading UI tools with cloud services to simplify the entire app development lifecycle. Telerik tools and services can be adopted individually or as a platform and seamlessly integrated with other popular developer solutions. More than 130,000 customers from 40,000 organizations in 94 countries depend on Telerik products, including more than 450 of the Fortune 500®, academic institutions, governments and non-profits. For additional information about Telerik, please visit telerik.com or follow @telerik on Twitter.

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Press Contacts:

Erica Burns
Telerik, Inc.
Tel: 888.365.2779 #154
Erica.Burns@telerik.com