Monday December 3, 8:10 am Eastern Time
Press Release
SOURCE: Tumbleweed Communications
Tumbleweed Ranked on North America 2001 Deloitte & Touche Technology Fast 500 List
REDWOOD CITY, Calif.--(BUSINESS WIRE)--Dec. 3, 2001--Tumbleweed® Communications Corp. (Nasdaq:TMWD - news), a leading provider of secure content management solutions for enabling the business Internet, announced today that it was ranked the 93rd Fastest Growing Technology Company in North America on the 2001 Deloitte & Touche Technology Fast 500.
Tumbleweed attributes its 6,154 percent five-year revenue growth to its focus on customers, which has resulted in large growth in its Global 2000 installed base since 1995.
``Over the past five years, we've successfully attracted 8 of the Fortune 10 and 100 of the Fortune 500 to our large installed base, indicating that our focus on customers has paid off,'' said Jeff Smith, chairman and CEO of Tumbleweed. ``As businesses move more and more processes online, security has become an increasingly critical component of their infrastructure and our solutions are designed to meet this need. In 1995, we had approximately 40 customers; today our installed base stands at over 1,000 companies and organizations worldwide. We will continue to focus on providing these customers with excellent service and superior secure content management products which will enable them to fully leverage the business Internet safely and benefit their businesses.''
``Being one of the 500 fastest growing technology companies in North America is an impressive accomplishment. We commend Tumbleweed for making the Deloitte & Touche Technology Fast 500 and applaud its phenomenal 6,154 percent five-year growth rate,'' said Mark A. Evans, managing director, Deloitte & Touche Technology & Communications Group.
In addition to ranking on the Deloitte & Touche Technology Fast 500, Tumbleweed ranked 25th on the Silicon Valley Technology Fast 50, which is a ranking of the 50 fastest growing technology firms in the Silicon Valley region.
Overall, companies that ranked on the 2001 Technology Fast 500 had five-year growth rates ranging from 115,874 to 824 percent, with an average growth rate of 6,184 percent.
Fast 500 Selection and Qualifications
The Fast 500 list is compiled from three sources: winners of Deloitte & Touche's 22 regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research. To qualify for the Fast 500, entrants must have had 1996 revenues of at least $50,000 USD and $75,000 CD for the United States and Canada, respectively. Entrants are public or private companies headquartered in North America and must be a ``technology company,'' defined as a company that develops proprietary technology which contributes to a significant portion of the company's operating revenues, manufactures a technology-related product, or devotes a high percentage of effort to research and development of technology.
Technology Fast 500 winners are invited to an exclusive CEO Summit that will be held from May 8-10, 2002 at The Breakers Resort, Palm Beach, Fla. The CEO Summit, now in its fourth year, is designed to address the unique business challenges facing these super-charged technology companies.
About Tumbleweed
Tumbleweed is a leading provider of solutions for managing secure communication and collaboration to enable the business Internet. Tumbleweed's robust policy-based framework empowers organizations to safely share and protect critical information, increase customer loyalty and privacy and dramatically reduce costs. Tumbleweed is trusted by 1,000 blue-chip customers including American Express, JP Morgan Chase & Co., Chevron, Datek Online, the European Union's Joint Research Council, US Food and Drug Administration, John Deere, Merrill Lynch, Nike, Northern Trust, NTT, Salomon Smith Barney, Travelers, United Parcel Service, and seven of the world's largest postal services. Eight of the Fortune 10 and 100 of the Fortune 500 are Tumbleweed customers. Tumbleweed Communications was founded in 1993 and is headquartered in Redwood City with offices around the world.
About Deloitte & Touche
Deloitte & Touche LLP, one of the nation's leading professional services firms, provides assurance and advisory, tax, and management consulting services through nearly 30,000 people in more than 100 U.S. cities. The firm is dedicated to helping our clients and our people excel. Known as an employer of choice for 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 four consecutive years. Deloitte & Touche is the U.S. national practice of Deloitte Touche Tohmatsu. Deloitte Touche Tohmatsu is a Swiss Verein, and each of its national practices is a separate and independent legal entity. For more information, please visit Deloitte & Touche's web site at www.us.deloitte.com.
About Deloitte & Touche's Technology & Communications Group
The Technology & Communications Group is composed of service professionals who have a wealth of experience serving technology and communications companies throughout the world in areas including Internet, software, semiconductors, cable, media and publishing, communication utilities, networking, wireless, computers and peripherals, and related industries. These specialists understand the challenges that technology and communications companies face throughout all stages of their business growth cycle and are committed to helping them succeed. Deloitte & Touche is a leader in providing strategic, financial, operational, and information technology assistance to its technology and communications clients.
Except for the historical information contained herein, the matters discussed in this press release may constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected, particularly with respect to Tumbleweed's growth as well as the characteristics of its products and services. In some cases, forward-looking statements can be identified by terminology such as ``may,'' ``will,'' ``should,'' ``potential,'' ``continue,'' ``expects,'' ``anticipates,'' ``intends,'' ``plans,'' ``believes,'' ``estimates,'' and similar expressions. For further cautions about the risks of investing in Tumbleweed, we refer you to the documents Tumbleweed files from time to time with the Securities and Exchange Commission, particularly Tumbleweed's Form 10-K filed March 30, 2001 and Form 10-Q filed Nov. 13, 2001. Tumbleweed assumes no obligation to update information contained in this press release.
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