Growth attributed to strategic partnerships with fast growing global internet businesses
IT solutions and networking company, Arkphire, has announced that it ranked number 19 in the 2017 Deloitte Technology Fast 50, a ranking of the 50 fastest growing technology companies in Ireland. Rankings are based on average percentage revenue growth over four years. Arkphire has achieved an average 470% growth in revenues since 2011. This year’s placement for Arkphire in the top 20 fasting growing tech businesses in Ireland, sees them jump ten places compared to its position last year.
Jimmy Dalton, CFO at Arkphire credits its strategic partnerships with fast growing global internet businesses as a key contributor to the company’s growth over the past four years. He said: “Arkphire has worked hard over the past few years to provide a global offering to our customers. We have invested heavily in supply chain management, people and supplier relationships. This investment is now paying off and we are well positioned as the preferred supplier to some of the largest Silicon Valley based tech multinationals. As our customers grow, so too will Arkphire as we continue to support our customers’ global reach.”
The Deloitte Fast 50 measures Ireland’s fastest growing indigenous companies in the tech sector. The awards, which are in their eighteenth year in Ireland, recognise the contribution of indigenous companies to the overall sector in Ireland, and indeed the overall economy. Cumulatively, the 2017 Fast 50 winners generated approximately €858 million in total annual revenues in 2016. The average revenue of companies featuring on the ranking was approximately €17 million, while the average growth rate of the companies over the last four years was 290%.
Announcing the winners of the Deloitte Technology Fast 50 programme, Joan O’Connor, Partner, Deloitte said: “Each year, these awards showcase the very best of the Irish technology industry. What really strikes me this year is the focus the winning companies have on global markets – we estimate just under 90% of our winning companies’ revenues are generated by exports – this demonstrates the ambition and drive of Irish technology companies to diversify and the global nature of this business. Last year we highlighted that export markets would become increasingly important for the indigenous sector, given the Brexit challenge – and it’s clear the Fast 50 companies are tackling this challenge head on.
“These awards offer a glimpse into the future of the technology market for venture capitalists and multinational companies and also provide an excellent opportunity for businesses to highlight their achievements, their future ambitions and aspirations in the global marketplace. Congratulations to all our winners.”
Details of the final Deloitte Technology Fast 50 ranking list are available to download at www.fast50.ie