OTTAWA, ON / ACCESSWIRE / November 17, 2021 / GaN Systems today announced it ranked 266 on the Deloitte Technology Fast 500, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 27th year. GaN Systems grew 485% during this period.
GaN Systems' chief executive officer, Jim Witham, credits the transition to GaN power semiconductors from silicon transistors to the massive growth in the digital economy, electrification, and electricity use. These megatrends all demand smaller, lower-cost, and more efficient and sustainable power systems. He said, "Broad adoption of GaN, from the biggest companies in automotive, data center, industrial, and consumer electronics, demonstrates that we are now in a new era of power electronics. Our growth is attributed to more than the technological and market trends coming together. It's also our people, partners, and customers, and the advances we've made in creating reliable, best-in-class transistors."
"Each year the Technology Fast 500 shines a light on leading innovators in technology and this year is no exception," said Paul Silverglate, vice-chair Deloitte LLP and U.S. technology sector leader. "In the face of innumerable challenges resulting from the pandemic, the best and brightest were able to pivot, reinvent and transform and grow. We celebrate the winning organizations and especially the talented employees driving their success."
"The pandemic has underscored the urgent need for tech solutions in a variety of areas across health care, fintech, energy tech, entertainment, to name a few, so reliance on innovators like the winners of the Technology Fast 500 is more important than ever," said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media, and telecommunications within Deloitte's audit & assurance practice. "These companies are not only at the cutting edge, transforming the way we do business, but most importantly, recognize the strategic importance of ongoing innovation, especially in the ever-changing world of technology."
Overall, 2021 Technology Fast 500 companies achieved revenue growth ranging from 212% to 87,037% from 2017 to 2020, with median growth of 521%.
About the 2021 Deloitte Technology Fast 500
Now in its 27th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies - both public and private - in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2017 to 2020.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About GaN Systems
GaN Systems is the global leader in GaN power semiconductors with the most extensive transistors portfolio that uniquely addresses the needs of today's most demanding industries, including consumer electronics, data center servers, and power supplies, renewable energy systems, industrial motors, and automotive electronics. As an industry-leading innovator, GaN Systems makes it possible to design smaller, lower cost, more efficient power systems. The company's award-winning products provide system design opportunities free from the limitations of yesterday's silicon. By changing the transistor performance rules, GaN Systems enables power conversion companies to revolutionize their industries and transform the world. For more information, please visit: www.gansystems.com or on Facebook, Twitter and LinkedIn and scan this QR code for our WeChat.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as "Deloitte Global") does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.
Media Contact:
Mary Placido
Trier and Company for GaN Systems
Email: mary@triercompany.com
Phone: 1-415-2183627
SOURCE: GaN Systems
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