Irish owned IT services and networking company, Arkphire, today announced that it ranked number 29 in the 2016 Deloitte Technology Fast 50, a ranking of the 50 fastest growing technology companies in Ireland. Rankings are based on average percentage revenue growth over four years. Arkphire has achieved an average 400% growth in revenues since 2011.
Paschal Naylor, CEO at Arkphire credits its customer centric approach and its investment strategy with the company’s growth over the past four years. He said: “Arkphire’s primary contributor to the growth of the business is down to our customer centric approach and our management team’s mindset to be willing to invest in new and evolving solutions that meet the market requirements of our valued customers. At Arkphire we are very committed to a ‘build for the future’ approach and attitude in everything that we do.” Arkphire’s management team from left to right: Gerry Harvey, Head of Enterprise, Pauline White, managing director at Bootstrap, Paschal Naylor, managing director at Arkphire, Howard Roberts, Chief Technology Officer, Brid Graham, Team Lead – Product Division and Jimmy Dalton, Chief Finance Officer.
The Deloitte Fast 50 measures Ireland’s fastest growing indigenous companies in the tech sector. The awards, which are in their seventeenth year in Ireland, recognise the contribution of indigenous companies to the overall sector in Ireland, and indeed the overall economy. Cumulatively, the 2016 Fast 50 winners generated approximately €1.6 billion in total annual revenues in 2015. The average revenue of companies featuring on the ranking was approximately €31 million, while the average growth rate of the companies over the last four years was 270%. On average, exports account for 61% of turnover for this year’s winning companies, while R&D expenditure represents just under a fifth of turnover (18%).
Announcing the winners of the Deloitte Technology Fast 50 programme, Joan O’Connor, Partner, Deloitte said: “We are delighted to be recognising these exceptional and innovative Irish companies. Their contribution to the technology sector is critical to the success of the industry overall in Ireland and it is clear from the turnover derived from exports that they are having considerable success in global markets also. This ambition is hugely encouraging to see and will be increasingly important in a post-Brexit marketplace, where pressure on margins may necessitate diversification into other markets. For this reason, and due to the wealth of opportunity that presents itself, we expect developed and emerging markets to be increasingly important for Irish technology companies. The success that has been achieved to date by the indigenous technology sector leaves them well placed to capitalise on this momentum.”
The Deloitte Technology Fast 50 Awards took place in Dublin on 4 November 2016 and were hosted by science and technology journalist, and founder of Whipsmart Media, Jonathan McCrea. Keynote speaker on the night was Mark Casey, Managing Director, Global Media & Entertainment Leader, Technology, Media & Telecommunications, Deloitte.
Details of the final Technology Fast 50 ranking list are available to download at www.fast50.ie