Romanian software developers AROBS Transilvania Software (Cluj-Napoca), TeamNet International (Bucharest) and LASTING Software (Timisoara) ranked 5, 7 and 38 respectively in the Deloitte Central Europe Technology FAST 50 2008, a top of the first 50 fastest growing technology companies in the region, now in its ninth edition.

“This is the first time Romania joins the program and the debute was more than promising, since we have three companies qualified, two of them directly in Top 10, with solid growth rates in turnover over the past five years,” said George Mucibabici, Chairman with Deloitte Romania.

Cluj-Napoca-based AROBS Transilvania, on the fifth place, reported a 2.722% turnover growth rate from 2003 to 2007. TeamNet International, part of Asesoft Group, ranked 7 with 2.028%. LASTING Software, part of Timisoara-based LASTING System, occupied the 38th position with 407%.

The result places Romania on the fifth place among countries in the region (alongside Bulgaria) with 6% of total companies represented in the Top.

“The Romanian companies’ performance in a ranking for Intellectual Property producers is remarkable,” underlined George Mucibabici. “Until now, the market had only a few reputable producers, on a market dominated by technology distributors. Now new players consolidate their position on the market, producing, selling and implementing their own solutions on the local market or abroad.”

The Deloitte Technology Fast 50 program started in Silicon Valley, California, in 1995, and later on expanded into a Technology Fast 500 in North America, Asia-Pacific and Europe. This program operates independently in 17 countries outside the United States and also in the Central European region, in the Czech Republic, Hungary, Latvia, Estonia, Poland, Slovakia, Bulgaria and this year also in Romania, Serbia, Croatia, Slovenia, Bosnia and Herzegovina and Lithuania.

This year Deloitte Central Europe invited more than 3,000 candidate firms throughout
the region to participate in the survey. Each year the number of participating countries and invited firms increases.

Firms are selected based on eligibility criteria. First of all, companies have to own proprietary intellectual property or proprietary technology that contributes significantly to its operating revenues, manufacture a technology product or devote a significant part of revenues to research and development of technology. Candidates must report yearly revenues of at least 50,000 Euro in each of the last five years (2003–2007). Also, companies must be headquartered in Central Europe, be in business for at least five years and have an ownership structure that excludes majority-owned subsidiaries of strategic entities.

The 2008 edition in Central Europe is dominated by Hungary, with 14 companies (28% of the total). The neighboring country thus increased its total count for the fourth year in a row (from only one company qualified in 2004).  The Czech Republic comes next, with 13 companies (26%). Poland has nine companies (20%) and Slovakia – 4 (8%). The leader of the 2008 ranking – Blue Media, comes from Poland, with an impressive growth rate of 10.027%.

Software and Internet remain the most dominant business sectors in the ranking. An increase in share of Internet companies is expected over the next year, due to higher Internet penetration in the Central European region.