Innovative tools developer surpasses fellow nominees to secure coveted placement as national representative.

Telerik, a leading vendor of development tools and user interface components for .NET, today announced it has been named as a finalist in the prestigious 2010 European Business Awards. The rigorous annual awards competition sponsored by HSBC recognizes and promotes excellence, best practices, and innovation in the European business community. Overcoming a crowded field of contenders to secure its place as one of only 10 country representatives, Telerik now advances to the next round of the competition in the hopes of winning the coveted Ruban d’Honneur. Final category award winners will be unveiled in Paris, France, on November 16, 2010.

“We are deeply honored to have been selected as a finalist in the 2010 European Business Awards,” said Svetozar Georgiev, CEO, Telerik. “Telerik remains dedicated to advancing the art and science of software development and we are both pleased and grateful that these efforts to do so have been recognized by the judges.”

Currently in its fourth successful year, the European Business Awards identify and award Europe’s brightest businesses. As part of the competition, an esteemed panel of judges carefully and thoroughly evaluates each nominee’s ability to demonstrate the three core principles at the heart of the Awards program: innovation, business excellence, and sustainability. In the next phase of the competition, Telerik, representing Bulgaria, will contend against representatives from nine other European countries.

“Each year, we witness impressive entries from some outstanding companies who have some great stories to tell. This year is no different; the quality of applicants is rising as are the number of entrants, so these organizations who have achieved Country Representative status truly are the best of the best,” said Adrian Tripp, CEO, European Business Awards. “They will go on to fly the flag for their countries as they battle it out across Europe in the next round to win a Ruban d’Honneur.”

The European Business Awards is dedicated to raising the visibility and progress of companies who excel in delivering innovation in conjunction with successful commercial results, while maintaining the highest level of corporate responsibility and positively affecting the social environment they operate in. In 2009, the 99 Ruban d’Honneur recipients achieved a combined turnover greater than Ђ570 billion and recorded an average annual profit growth of 56%.