The company was recognized for its 2,658% increase in revenue growth and is set to accelerate growth following major acquisitions
TORONTO, Nov. 17, 2022 /PRNewswire/ -- Alphawave IP (LSE: AWE), a global leader in high-speed connectivity for the world's technology infrastructure, today announced the company has been recognized as a winner of the 2022 Deloitte Technology Fast 50 and North American Technology Fast 500 award programs for its rapid revenue growth, entrepreneurial spirit, and bold innovation.
Celebrating its 25th anniversary, Deloitte's Technology Fast 50 ranks Canada's 50 fastest-growing public and private technology companies that are transforming the industry based on the highest revenue-growth percentage over the past four years. Alphawave IP ranks 10th with a 2,658 percent in revenue growth from 2018 to 2021.
The winners are automatically eligible for the broader Deloitte North American Technology Fast 500 award. Alphawave IP's fast growth was also recognized and the company ranks 65th for the North American Technology Fast 500 list.
Alphawave IP's CEO and cofounder Tony Pialis, credits the company's innovative, high-speed connectivity technology for the high revenue growth. "It's a great honor to receive this award and have our growth recognized in the North American market. Alphawave is well-positioned to accelerate its growth with the recent acquisitions of Banias Labs and OpenFive, which brings custom silicon and optical technology into our product portfolio, and we are excited to continue our journey in becoming a leader in the connectivity industry."
"It's inspiring how this year's exceptional cohort of Technology Fast 50 winners have delivered outstanding revenue growth even in the face of prevailing uncertainties in the economy and marketplace," commented Anders McKenzie, partner and national leader for the Technology Fast 50 program at Deloitte Canada. "Fueled by exemplary innovation, creativity, resilience, adaptability, along with superior business leadership, these companies are paving the way as catalysts in their respective sectors and delivering growth and value to the Canadian economy both at home and beyond."
To qualify for the Deloitte Technology Fast 50 ranking, companies must have been in business for at least four years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, conduct research, and development activities in Canada and invest a minimum of five percent of gross revenues in R&D.
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.
The Deloitte Technology Fast 50 program is Canada's preeminent technology awards program. Celebrating its 25th anniversary, the program recognizes business growth, innovation, and entrepreneurship in four distinct categories: Technology Fast 50 ranking, Enterprise Fast 15, Clean Technology, and Companies-to-Watch. The program also recognizes companies within the North American Technology Fast 500 ranking, identifying thriving technology companies in the United States and Canada. The 2022 program sponsors include Deloitte, RBCx, Osler, EDC, CBRE, Vector Institute, Council of Canadian Innovators (CCI), Clarity Recruitment, Lafond, and TMX. For further information, visit www.fast50.ca.
Now in its 28th 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 2018 to 2021.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. For further information, visit www.fast500.com.
Faced with the exponential growth of data, Alphawave IP's technology services a critical need: enabling data to travel faster, more reliably and with higher performance at lower power. Alphawave IP is a global leader in high-speed connectivity for the world's technology infrastructure. Our IP solutions meet the needs of global tier-one customers in data centers, compute, networking, AI, 5G, autonomous vehicles, and storage. Founded in Toronto, Canada in 2017, by an expert technical team with a proven track record in licensing semiconductor IP, our mission is to focus on the hardest-to-solve connectivity challenges. To find out more about Alphawave IP, visit: awaveip.com
CONTACT: T: 9165274535, E-mail: alphawave@gravitatepr.com
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