Starent Networks Ranked as Third Fastest Growing Company on Deloitte's 2008 Technology Fast 500November 17, 2008
TEWKSBURY, Mass., Nov 17, 2008 (BUSINESS WIRE)—Starent Networks, Corp. (Nasdaq: STAR), a leading provider of infrastructure solutions that enable mobile operators to deliver multimedia services, today announced that it ranked number three on Deloitte’s 2008 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America. Rankings are based on percentage of fiscal year revenue growth over five years, from 2003—2007.
“When we started, we recognized that a wide variety of multimedia services would one day be crossing mobile broadband networks. This would require a high-performance mobile core networking solution with integrated intelligence to manage network traffic on a per subscriber, per application basis,” said Ashraf Dahod, president and CEO of Starent Networks. “This integration of intelligence with superior performance characteristics in our solutions allowed us to capture early market share and fueled our growth.”
“The Deloitte Technology Fast 500 ranks North America’s fastest growing technology, media, telecommunications and life sciences companies,” said Phil Asmundson, Deloitte LLP vice chairman and national managing partner for Technology, Media and Telecommunications. “We congratulate Starent on its ability to achieve such exceptional growth in one of today’s most innovative and competitive market sectors.”
Overall, companies that ranked on the 2008 Technology Fast 500 had growth rates ranging from 242 to 138,762 percent over five years, with an average growth rate of 3,043 percent.
Fast 500 Selection and Qualifying Criteria
The Fast 500 ranks the fastest growing technology, media, telecommunications and life sciences companies in North America. It is compiled from Deloitte’s regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research. Companies are selected based on percentage revenue growth from 2003 to 2007.
Entrants must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company’s operating revenues or devote a significant proportion of revenues to research and development of technology. Using other companies’ technology or intellectual property in a unique way does not qualify. Base-year operating revenues must be at least $50,000 USD or $75,000 CD, and current-year operating revenues must be at least $5 million USD or CD. Companies must be in business a minimum of five years, and they must be headquartered within North America.
As used in this document, “Deloitte” means Deloitte LLP.Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.
About Starent Networks
Starent Networks, Corp. is a leading provider of infrastructure solutions that enable mobile operators to deliver multimedia services to their subscribers. Starent Networks has created solutions that provide mobile operators with the functions and services needed for access, mobility management and call control in their networks. Through integrated intelligence and high performance capabilities, Starent Networks’ solutions also enhance subscriber management, billing and session policy enforcement. The company’s products are capable of supporting a wide range of mobile wireless networks, such as UMTS, CDMA2000, WiFi, and WiMAX. Starent Networks’ products have been deployed by over 85 mobile operators in 35 countries. Additional information about Starent Networks is available at www.starentnetworks.com.