WASHINGTON, D.C., September 29, 2006 — NexTone Communications tops the list of the fastest growing technology companies in Maryland as recognized by Deloitte & Touche LLP and Wilmer Cutler Pickering Hale and Dorr LLP at an award event held September 28 at The Sequoia in Georgetown. Called the “Maryland Technology Fast 50,” the annual award program ranks technology companies located in Maryland by revenue growth.
“Deloitte’s Maryland Technology Fast 50 companies have shown the strength, vision and tenacity to succeed in today’s very competitive technology environment,” said Mr. Andy Harrs, Deloitte’s southeast regional managing partner for the Technology, Media and Telecommunications Industry Practice based in McLean, VA. “We applaud the successes of NexTone Communications and acknowledge it as one of the very few to accomplish such an impressive growth rate over the past five years.”
“The success of this year’s ranked companies in Maryland prove technology strength across the state. These Maryland companies compete with companies across the nation and are able to grow at an impressive rate, which demonstrates the economic fitness of the state,” said Mr. William J. Perlstein, co-managing partner of WilmerHale. Congratulations to these companies for this accomplishment and their continued growth.”
Winners are selected based on percentage revenue growth over five years from 2001 to 2005. To be considered, Technology Fast 50 entrants must: have operating revenues of at least $50,000 in 2001 and at least $5,000,000 in 2005; be headquartered in Maryland; be a “technology company,” defined as a company that owns proprietary technology that contributes to a significant portion of its operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology in a unique way does not qualify. Subsidiaries and divisions are not eligible, unless they have some public ownership and are separately traded.
The Technology Fast 50 company ranking is as follows:
United Therapeutics Corporation
Martek Biosciences Corp.
Catapult Technology, Ltd.
Systems Integration and Development
International Software Systems
Chesapeake Research and review
Integral Systems, Inc.
Infinite Computer Solutions
United Industrial Corp.
OPNET Technologies, Inc.
Capital Technology Info Services, Inc.
CoStar Group, Inc.
MICROS Systems, Inc.
Gene Logic Inc.
QSS Group, Inc.
Human Genome Sciences
TeleCommunication Systems, Inc.
Avatech Solutions, Inc.
A special category called “Rising Stars” recognizes the five fastest growing technology companies based on revenue growth over three years (2003–2005).
The Maryland Technology Fast 50 program is hosted by Deloitte & Touche LLP, along with WilmerHale and media sponsors PR Newswire and SmartCEO magazine.
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Deloitte & Touche USA LLP is the U.S. member firm of Deloitte Touche Tohmatsu. In the U.S., services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Tax LLP, and their subsidiaries), and not by Deloitte & Touche USA LLP.
About Wilmer Cutler Pickering Hale and Dorr LLP
WilmerHale is widely recognized as a leader in advising technology and life sciences companies. More than 70 lawyers hold degrees in scientific or technical fields, including information technology and life sciences. As a result of a longstanding focus on entrepreneurial and technology companies, WilmerHale represents more venture-backed companies in the eastern half of the US than any other law firm. WilmerHale's other premier practices include, antitrust and competition; aviation; bankruptcy; civil and criminal trial and appellate litigation (including white collar defense); communications; corporate (including public offerings, public company counseling, start‑up companies, venture capital, mergers and acquisitions, and licensing); defense and national security; financial institutions; intellectual property counseling and litigation; international arbitration; life sciences; securities regulation, enforcement and litigation; tax; and trade. WilmerHale was formed in May 2004 through the merger of two of the nation's leading law firms, Hale and Dorr LLP and Wilmer Cutler Pickering LLP. With a staunch commitment to public service, the firm is renowned as a national leader in pro bono representation. The firm has more than 1,000 lawyers and offices in Baltimore, Beijing, Berlin, Boston, Brussels, London, Munich, New York, Northern Virginia, Oxford, Palo Alto, Waltham and Washington, DC. For more information, please visit http://www.wilmerhale.com/.