TORONTO - Bioscrypt Inc., a leading provider of identity verification technology, today announced that it ranked Number 53 on the 2005 Deloitte Technology Fast 500, a ranking of the 500 fastest growing technology companies in North America. Rankings are based on percentage revenue growth over five years, from 2000-2004. Bioscrypt grew 4,724 percent during this period.
Bioscrypt's CEO, Robert L. Williams, credits strategic positioning in the market and leading edge technology with the company's 4,724 percent revenue growth over the past five years. He said, "Bioscrypt has been keenly focused on addressing the need for strong authentication for access to buildings and computers. As the convergence between physical and logical access continues, we are confident that the momentum in our Door to Desktop strategy will accelerate."
"Being one of the 500 fastest growing technology companies in North America is an impressive accomplishment. We commend Bioscrypt for making the Deloitte Technology Fast 500 with a phenomenal 4,724 percent growth rate over five years," said Tony Kern, deputy national managing principal of Deloitte's Technology, Media & Telecommunications industry practice."
In addition to ranking on Deloitte's Technology Fast 500, Bioscrypt ranked fifth on the Canadian Technology Fast 50, which is a ranking of the 50 fastest growing technology firms in Canada.
Overall, companies that ranked on the 2005 Technology Fast 500 had growth rates ranging from 240 to 73,752 percent over five years, with an average growth rate of 2,408 percent.
Fast 500 Selection and Qualifications
The Fast 500 list is compiled from Deloitte's 15 regional North American Fast 50 lists, nominations submitted directly to the Fast 500, and public company database research. To qualify for the Fast 500, entrants must have had 2000 operating revenues of at least $50,000 USD or $75,000 CD for the United States and Canada, respectively, and 2004 operating revenues of at least $1 million USD or CD.
Entrants must be headquartered in North America and must be a "technology company," defined as a company that owns proprietary technology that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology in a unique way does not qualify.
Winners of the 15 regional Technology Fast 50 programs in the United States and Canada are automatically entered in the Deloitte Technology Fast 500 program, which ranks North America's top 500 fastest growing technology companies. For more information on the Fast 50 or Fast 500 programs visit www.fast50.ca or www.fast500.com.
About Bioscrypt Inc.
Bioscrypt Inc. is a leading provider of identity verification technology. The Company's solutions combine the convenience of touch with the high security of fingerprint-based biometrics for simple and secure access to facilities, equipment and information. Using the "bioscrypt on board(TM)" brand, the Company offers packaged products, OEM components and software licensing to leading security solution manufacturers and integrators worldwide for physical, wireless and network security applications. Among the many leading edge companies and partners using Bioscrypt technology are the U.S. Army, NASA, American Express, the New York Police Department, Kronos, NATO, Continental Airlines, Intel, Atmel, HID Corporation, Honeywell and Northern Computers. Bioscrypt's patented technology is interoperable with leading fingerprint sensors and is both platform and operating system independent. Bioscrypt is traded on the Toronto Stock Exchange under the symbol BYT. For more information, visit the Bioscrypt website at www.bioscrypt.com.
[Canada Newswire English -- 12/02/05]