Deloitte announces the 12th annual ranking of Central Europe’s fifty fastest-growing technology companies. This year two Lithuanian companies Synergium and Arginta have been ranked among 50 the fastest growing companies in Central Europe.

About the ranking

The Central Europe Technology Fast 50 ranks the fastest-growing technology companies based on their revenue growth over a five-year period. For the 2011 ranking, revenues from 2006 to 2010 were analysed.

In order for a company to be considered eligible for the main Fast 50 ranking, it must meet a number of criteria:

• Annual revenues of at least 50,000 EUR in each year between 2005 and 2009;
• Have its headquarters in a Central European country (Albania, Bulgaria, Bosnia & Herzegovina, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Macedonia, Moldova, Montenegro, Poland, Romania, Serbia, Slovakia, or Slovenia);
• Develop or manufacture propriety technologies or spend a significant amount of capital on research & development;
• Have an ownership structure that excludes majority-owned subsidiaries of strategic entities.

Winners are then selected based on ranking eligible registrants by revenue growth over a five-year period from 2006 to 2010.

Please, find an enclosed report covering a list of 50 fastest –growing companies and the main issues related to the Fast 50 project.