MANCHESTER, NH— October 26, 2010 — Cellular Specialties, Inc. (CSI) − a recognized leader in the design and implementation of in-building wireless products and solutions - today announced that it ranked number 433 on Technology Fast 500™, Deloitte LLP’s ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on percentage of fiscal year revenue growth during the five year period from 2005–2009.
Overall, Technology Fast 500™ 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.
“Cellular Specialties has proved itself to be one of the fastest growing tech companies in
North America and we are proud to honor them as one of the 2010 Technology
Fast 500™,” said Mark Jensen, managing partner, venture capital services, Deloitte & Touche LLP.
According to the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker, vendors shipped a total of 54.7 million units in the first quarter of 2010 (1Q10), up 56.7% from the same quarter a year ago. In contrast, the overall mobile phone market grew 21.7%. Converged mobile devices accounted for 18.8% of all mobile phones shipped in 1Q10, up slightly from 14.4% in 1Q09.
Cellular Specialties’ president and CEO, R. Bruce Wilson explains why the mobile phone growth has attributed to CSI’s growth, “We have seen an increase in demand for enhancing the cellular and Wi-Fi signal reception strength inside buildings and also across campus areas. The ubiquitous coverage demand is fueled by lower cost—yet more powerful—mobile devices that have become the first option of communication and data, for most individuals. To satisfy this need, commercial real estate, hospitals, higher education and stadiums, to mention a few, have now sought to make sure these mobile devices find and stay connected to Wi-Fi networks or their perspective carriers. CSI is the only provider approved by all four major U.S. carriers for products and solutions.”
“Cellular Specialties and the other 2010 Technology Fast 500™ 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 Cellular Specialties for this impressive accomplishment.”
For additional detail on the Technology Fast 500™ including selection and qualifying criteria, visit www.fast500.com.