Combined with FORTUNE 1000 ranking, PAETEC joins elite group of only 20 companies to make both lists
FAIRPORT, N.Y. - October 21, 2010 (Print-friendly PDF file)
This week, PAETEC Holding Corp. (NASDAQ GS: PAET), which provides data, voice, and Internet solutions to business-class customers nationwide, was named to Deloitte's 2010 Technology Fast 500TM list for the fourth time. The annual list provides a ranking of the 500 fastest-growing technology companies in North America. PAETEC's 2010 rank is #409, up four spots from its 2009 rank of #414, and is one of only 27 companies on this list with 2009 revenues in excess of $1 billion. In addition, 19 other companies in 2010 rank both on the FORTUNE 1000 and Deloitte Technology Fast 500 including Vizio (#77), Google (#319), and Garmin (#436).
"PAETEC and the other 2010 Technology Fast 500TM winners forged ahead in a challenging economic environment to realize exceptional growth," said Phil Asmundson, vice chairman and Deloitte's U.S. technology, media and telecommunications leader. "Deloitte commends PAETEC for this impressive accomplishment."
"This recognition is especially significant since we're now simultaneously ranked on Fortune magazine's list of America's 1,000 largest corporations and as Deloitte's list of the fastest-growing technology companies in North America," said Arunas Chesonis, PAETEC's chairman and CEO. "This latest honor is a testament to our aggressive focus on growth, as well the unmatched customer-driven efforts of our 4000 employees nationwide."
The Deloitte 2010 Technology Fast 500TM recognizes the fastest-growing technology, media, telecommunications, life sciences, and clean technology companies in North America. Companies were selected based on the percentage of fiscal year revenue growth from 2005 to 2009. This is the fourth time that PAETEC has appeared in this annual ranking. The company was ranked #2 in 2003, #154 in 2004.
Overall, Technology Fast 500TM award winners for 2010 had revenue growth ranging from 146 percent to 164,079 percent from 2005 to 2009, with an average growth of 2,361 percent.
For additional detail on the Technology Fast 500TM including selection and qualifying criteria, visit www.fast500.com.
PAETEC (NASDAQ: PAET), a FORTUNE 1000 company, is personalizing business communications for medium and large businesses, enterprise organizations and institutions across the United States. We offer a comprehensive suite of IP, voice, data, and Internet services, as well as enterprise communications management software, network security solutions, CPE, and managed services. For more information, visit www.paetec.com.
As used in this document, "Deloitte" means Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.