TORONTO, ONTARIO–(Marketwired – Nov 13, 2013) – GuestLogix Inc. (GXI.TO), the leading global provider of onboard retail and payment technology solutions to airlines and the passenger travel industry, today announced that it has been recognized as one of Canada’s fastest growing technology companies in the 16th annual Deloitte Technology Fast 50™ awards. GuestLogix also ranked among the 500 fastest growing technology companies in North America in the Deloitte Technology Fast 500™. These awards are granted for technological innovation, entrepreneurship, rapid growth and leadership based on the percentage of revenue growth over five years.
“Being recognized for our continued growth for five consecutive years is a testament to the Company’s commitment to delivering innovative technology and services to the passenger travel industry,” said GuestLogix President and Chief Executive Officer, Brett Proud. “Aside from the strength of our product offerings, I attribute the Company’s growth to our team’s dedication to making GuestLogix the leader in onboard retail technology, not only in Canada and North America, but worldwide.”
The Deloitte Technology Fast 50™ program recognizes leaders in the Canadian technology industry and tracks the successful growth of Canadian-grown global leaders. The program augments the broader Deloitte North American Technology Fast 500™ initiative, with winners automatically eligible for this elite ranking.
“Canadian Fast 50 companies innovate, demonstrate leadership, create jobs, and invest in R&D,” said Richard Lee, Deloitte’s National Managing Partner, Technology, Media & Telecommunications. “GuestLogix is a company that shows dedication, drive and commitment, which is key to growth in the Canadian technology sector.”
GuestLogix was ranked 39th on the Deloitte Fast 50™ and 375th on the Deloitte Fast 500™ and achieved a 204% revenue growth rate over the past five years.
To qualify for the Deloitte Technology Fast 50™ ranking, companies must have been in business for at least five years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, and conduct research and development activities in Canada. A panel of industry experts evaluate and judge companies based on four key criteria: competitive advantage; size, growth, and market attractiveness; management effectiveness and organization; and financial performance.