AWRE...Named One of New England's Fastest-Growing Technology Companies
Company Sees Rapid Growth Continuing as DSL and IP Business Model Flourish
BEDFORD, Mass.--(BUSINESS WIRE)--July 31, 2000--Aware, Inc., (NASDAQ:AWRE - news), has been recognized as part of the elite ``New England Technology Fast 50'' for 2000, a ranking of the 50 fastest-growing technology companies in the area. The Fast 50 program ranks New England's fastest-growing technology companies based on five-year revenue growth. The program is co-sponsored by the professional services firm of Deloitte & Touche and the law firm of Hale and Dorr LLP, in association with Mass High Tech, the Journal of New England Technology. The ranking of the finalists will be revealed at a gala celebration on September 13th.
Aware's President and Chief Executive Officer Michael Tzannes credits the company's industry leading digital subscriber line technologies (DSL) and a rapidly growing market for the company's revenue growth over the past five years. He said: ``DSL technology transforms telephone lines into broadband pipes that fulfill the need for worldwide voice and high-speed data services. With each passing quarter our intellectual property business model is proving to be more successful. We are honored to be recognized as one of the 50 fastest-growing technology companies in New England.''
``Relative to the rest of the country, the New England Technology Fast 50 is an extremely competitive program. Our region has more than its share of great minds leading great companies, which makes this recognition exceptionally significant,'' said Stephen DiPietro, Co-chairman of the 2000 New England Technology Fast 50 Program, Deloitte & Touche.
William Lee, managing partner of Hale and Dorr and co-chairman of the program adds, ``Each year, it becomes more difficult to achieve recognition in the technology field. On behalf of Hale and Dorr, I congratulate Aware for its innovation and its success, and for joining the prestigious ranks of the 2000 Technology Fast 50.''
To qualify for the Fast 50, a company must have been in business a minimum of five years, with 1995 operating revenue of at least $50,000 and 1999 operating revenue of at least $1 million. It must be a technology company, strictly defined as one that develops proprietary technology which contributes to a significant portion of the company's operating revenues; manufactures a technology-related product; devotes a high percentage of effort to research and development of technology or uses proprietary technology to significantly improve the delivery of technology services.
To qualify for the New England Technology Fast 50 program, the company must also be headquartered in the state of Massachusetts, Rhode Island, New Hampshire, Vermont or Maine. Companies headquarter in Connecticut participate in the Deloitte & Touche TriState Technology Fast 50 along with New York and New Jersey-based companies.
All companies that participate in the New England program are also entered into Deloitte & Touche's national recognition program, the Technology Fast 500. For more information on the national Technology Fast 500 or the regional Technology Fast 50 programs, please visit www.fast500.com.
For more information on Deloitte & Touche, visit the web site at www.us.deloitte.com. For more information on Hale and Dorr LLP, visit the web site at www.haledorr.com. For more information on Mass High Tech, visit the web site at www.masshightech.com.
About Aware
Aware, Inc. designs, develops, licenses and markets DSL technology that enables broadband communications over existing telephone networks. The company licenses its intellectual property and software to semiconductor manufacturers and equipment manufacturers who sell products incorporating Aware technology. Aware also markets to systems companies to encourage them to design its technology into their products, and to service providers to encourage them to deploy new broadband services based on its technology. More information about Aware can be found at aware.com.
Note to Investors:
This press release contains certain statements of a forward-looking nature relating to future events or the future financial performance of Aware. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include the risks that Aware has a new and unproven business model, that Aware depends on a limited number of licensees, that Aware depends on equipment companies to incorporate its technology, and that DSL technology competes with other technologies for broadband access. These and other risks are described in various filings that Aware has made with the Securities and Exchange Commission, which risks are incorporated herein by reference.
About Deloitte & Touche
Deloitte & Touche, one of the nation's leading professional services firms, provides assurance and advisory, tax, and management consulting services through 30,000 people in more than 100 U.S. cities. The firm is dedicated to helping its clients and its people excel. Known as an employer of choice for its innovative human resources programs, Deloitte & Touche has been recognized as one of the ``100 Best Companies to Work for in America'' by Fortune magazine for three consecutive years. Deloitte & Touche is part of Deloitte Touche Tohmatsu, one of the world's leading professional services firms, with more than 90,000 people in over 130 countries. For more information, please visit Deloitte & Touche's web site at www.us.deloitte.com.
About Hale and Dorr LLP
Hale and Dorr LLP is a nationally preeminent high-technology law firm, with over 400 attorneys and offices in Boston, Washington, D.C., Reston, Va., and New York. The firm has a strong reputation for advising and guiding emerging growth companies, especially those in the software, telecommunications and biotechnology industries. For more information, visit the firm's web site at www.haledorr.com.
About Mass High Tech
Mass High Tech, The Journal of New England Technology is a weekly technology journal serving the executives and management-level engineers of New England's innovation and technology industries.
The journal's writers search out innovation and companies working on the ``bleeding'' edge and then report on their work and its marketplace applications before they make mainstream business news. Most importantly, Mass High Tech profiles and follows the people driving New England's innovation economy. With weekly readership of over 46,000, Mass High Tech's penetration into New England's technology community is unmatched.
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Contact:
Aware, Inc.
Kristin Griffin
781/687-0500
kgriffin@aware.com
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