Story Filed: Thursday, September 16, 1999 11:00 AM EST
KANATA, ONTARIO, Sep 16, 1999 (BUSINESS WIRE) -- CrossKeys Systems Corporation (Nasdaq: CKEY; TSE: CKY), announced today that it was recognized as one of the 50 fastest-growing technology companies by The National Post Fast 50.
The National Post Fast 50, co-sponsored by Deloitte and Touche, is an awards program similar to the Technology Fast 50 and Technology Fast 500 in the United States. It identifies the Canadian high technology companies with the most explosive five-year revenue growth from 1994-1998. In that period, CrossKeys went from annual revenues of $2.9 million in 1994 to $38.7 million in 1998. This represents growth over the period of 1,230 per cent. CrossKeys was 23 in the overall list of companies.
"CrossKeys performance is linked to the explosive growth of the Internet and business use of telecommunications," says Ian McLaren, President and Chief Executive Officer, CrossKeys. "Five years ago, we were pioneers in developing the software that assures businesses receive the telecommunications services they need. Today, we are maturing that product and are again at the leading edge, this time with software that enables multi-vendor networks to work together."
Prior to becoming a publicly traded company, CrossKeys was named one of Canada's 50 Best Managed Private Companies in 1995. In 1996, CrossKeys was presented with the Canadian Advanced Technology Association (CATA) Award for Emerging Technology. In 1998, CrossKeys was ranked the fastest growing high technology company in Canada, named one of Canada's leading exporters through the Canada Export Awards, and recognized as one of the world's leading telecommunications companies in Telecom Business magazine's Telecom 250. CrossKeys employs 270 people worldwide and is currently hiring an additional 120 employees to address its new market potentials.
CrossKeys Systems Corporation ( www.crosskeys.com) develops software that helps service providers manage the equipment and traffic on their telecom networks so they can operate more efficiently and provide better service to their customers. Through its relationships with leading systems integrators such as EDS, equipment manufacturers such as Nortel and Newbridge, and other software vendors, CrossKeys serves over 180 telecommunication service providers worldwide. CrossKeys has been ISO 9001 certified since 1995.
CrossKeys Systems Corporation is a public company whose common shares are listed for trading on Nasdaq (CKEY) in the United States and on The Toronto Stock Exchange (CKY) in Canada.
CrossKeys and its logo are registered trade marks of CrossKeys Systems Corporation. All other trade marks are the property of their respective holders and are acknowledged by CrossKeys Systems Corporation.
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