MMB Networks Ranked Number 169 Fastest Growing Company in North America on Deloitte’s 2018 Technology Fast 500™
Toronto, Ontario, November 15, 2018 — MMB Networks today announced it ranked 169th on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. MMB Networks grew 591% percent during this period.
MMB’s chief executive officer, Tim Angus, credits the company’s 591% revenue growth, to MMB having built the most talented, experienced, and best-recognized team in the IoT enablement sector – and the value MMB’s RapidConnect™ unlocks for customers. Angus said, “we couldn’t be more pleased to be recognized on this remarkable list of companies. This achievement is a result of a tremendous amount of hard work by our brilliant and dedicated team here at MMB. Our customers are leaders in their sectors and we appreciate their partnership with us to bring new products to market every day.”
“Congratulations to the Deloitte 2018 Technology Fast 500 winners on this impressive achievement,” said Sandra Shirai, vice chairman, Deloitte LLP, and U.S. technology, media and telecommunications leader. “These companies are innovators who have converted their disruptive ideas into products, services and experiences that can captivate new customers and drive remarkable growth.”
“Software, which accounts for nearly two of every three companies on the list, continues to produce some of the most exciting technologies of the 21st century, including innovations in artificial intelligence, predictive analytics and robotics,” said Mohana Dissanayake, partner, Deloitte & Touche LLP, and Industry Leader for technology, media and telecommunications, within Deloitte’s audit and assurance practice. “This year’s ranking demonstrates what is likely a national phenomenon, where many companies from all parts of America are transforming the way we do business by combining breakthrough research and development, entrepreneurship and rapid growth.”
Overall, 2018 Technology Fast 500™ companies achieved revenue growth ranging from 143 percent to 77,260 percent from 2014 to 2017, with median growth of 412 percent.
About Deloitte’s 2018 Technology Fast 500™
Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2014 to 2017.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD, and current-year operating revenues of at least $5 million USD. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About MMB Networks
In the fast-growing IoT industry, MMB Networks delivers the Internet to the Things. Founded in 2008, MMB has been dedicated to the development of reliable end-user customer experiences and fostering growth of the IoT ecosystem. Simply put, MMB helps companies get their products connected and bring them to market with confidence. Using MMB’s products and services, customers gain critical access to expanded markets, industry-leading interoperability functionality across major IoT platforms, and drastically reduced development cycles.
MMB offers a full suite of hardware and software products that automates connectivity making it easier for developers and engineers to work through their challenges – and create frictionless user experiences across major IoT platforms, protocols, and devices.
Please see mmbnetworks.com to learn more about our leading edge IoT products and services.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.