Deloitte and Touche: SkyBitz one of fastest-growing wireless companies

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SkyBitz, a satellite-based mobile asset tracking and information management service provider, has been named #2 in the first-ever Deloitte Technology Wireless Fast 50, a ranking of the fastest growing wireless companies. Deloitte & Touche USA LLP, in partnership with CTIA, awarded the Wireless Fast 50 at the CTIA Wireless I.T. & Entertainment 2007 show in San Francisco, the largest wireless data event in the industry.

SkyBitz has also been named #2 in the 2007 Deloitte Technology Fast 500 ranking of the fastest growing technology, media, telecommunications and life sciences companies in North America. SkyBitz grew 40,314 percent over five years (2002-2006 fiscal year revenues).

These awards are the third and fourth that SkyBitz has won this year in recognition of the company’s stellar market performance and technology leadership. SkyBitz ended 2006 with nearly 64 percent revenue growth from the previous year. More than 440 fleets throughout North America now rely on the patented SkyBitz GLS technology to track in excess of 140,000 mobile assets.

“We are thrilled and honored to be acknowledged for our innovation and growth,” said Dr. Homaira Akbari, CEO and president of SkyBitz.

“The wireless industry is on the cusp of great changes as new technologies such as WiMax and 3G upend the market…and yet, we are only scratching the surface of what is possible,” said Phil Asmundson, vice chairman, U.S. Technology, Media and Telecommunications, Deloitte & Touche USA LLP. “Our first-ever Deloitte Wireless Fast 50 awards underscore the potential for both innovation and business performance in this evolving sector. These companies have achieved sustained growth while navigating constant change, and are beacons of a promising future for the wireless industry.”

The Deloitte Wireless Fast 50 is a ranking of the fastest growing wireless companies based on revenue growth over the past five years. The award is based on percentage revenue growth over five years (fiscal years 2002-2006).

To qualify for the Wireless Fast 50, companies must have had operating revenues of at least $50,000 in 2002 and $5,000,000 in 2006; be headquartered anywhere in the world; and be a company that owns proprietary wireless technology or proprietary wireless intellectual property that contributes to a significant portion of the company’s operating revenues or devotes a significant proportion of revenues to the research and development of wireless technology.

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Companies from the Wireless Fast 50 program are automatically entered in Deloitte’s Technology Fast 500 program, which ranks North America’s top 500 fastest growing technology, media, telecommunications and life sciences companies. The Fast 500 ranks the fastest growing technology, media, telecommunications and life sciences companies in North America. It is compiled from Deloitte’s 16 regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research. Winners are selected based on percentage of fiscal year revenue growth from 2002 to 2006.

SkyBitz was also recently named #1 in Deloitte’s Technology Fast 50 program for Virginia and 112th on the Inc. 500 annual list of The Fastest Growing Private Companies in America.