TORONTO, ONTARIO--(Marketwire - Nov 20, 2012) - GuestLogix Inc. (GXI.TO), the leading global provider of onboard retail and payment technology solutions to airlines and the passenger travel industry, announced today that it has been recognized as one of Canada''s fasted growing technology companies in the 15th annual Deloitte Technology Fast 50™ awards. Additionally, GuestLogix also ranked among the 500 fastest growing technology companies in North America in percentage of revenue growth over five years in the Deloitte Technology Fast 500™.
"Our continued growth position in the Canadian and North American technology sectors is a testament to the strength of our product and the hard work of our global team," said GuestLogix President & Chief Executive Officer, Brett Proud. "I would personally extend my gratitude to the entire GuestLogix team in Toronto as well as in Dallas, London and Hong Kong for their commitment and dedication to making GuestLogix the clear global leader in onboard retail technology."
"Canadian Fast 50 companies innovate, demonstrate entrepreneurship, create jobs, and invest in R&D," said Richard Lee, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. "GuestLogix is an example of a company that shows passion, determination and drive that are so important for growth in the Canadian technology sector."
GuestLogix was ranked 24th on the Deloitte Fast 50™ and 230th on the Deloitte Fast 500™ and achieved a 362% revenue growth rate over the past five years.
Now in its 15th year, the Deloitte Technology Fast 50™ program recognizes leaders in the Canadian technology industry and tracks the successful growth of Canadian-grown global leaders. The program augments the broader Deloitte North American Technology Fast 500™ initiative, with winners automatically eligible for this elite ranking.
To qualify for the Deloitte Technology Fast 50™ ranking, companies must have been in business for at least five years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, and conduct research and development activities in Canada. A panel of industry experts evaluate and judge companies based on four key criteria: competitive advantage; size, growth, and market attractiveness; management effectiveness and organization; and financial performance.
GuestLogix Inc. (GXI.TO), the leading global provider of onboard store technology and merchandising solutions, helps airlines and other travel operators create, manage, and control onboard retail environments tailored to their needs and their passengers. GuestLogix brings a decade of expertise as a trusted onboard transaction processing partner to airlines around the world. The Company''s global headquarters and centre for product innovation is located in Toronto, Canada with regional head offices located in Dallas, Texas (serving Americas) London, UK (serving EMEA), and Hong Kong (serving Asia-Pacific). Sales and support offices are located in Singapore and Shanghai. Logistics centres are situated in Toronto, Dallas, London and Seoul with a software development centre located in India. In September 2012, GuestLogix acquired U.K.-based onboard retail technology provider Initium Onboard with clients in Europe, South America, Asia-Pacific and the Middle East. More information is available at www.guestlogix.com.
About the Deloitte Technology Fast 50™
The Deloitte Technology Fast 50™ program is Canada''s pre-eminent technology awards program. Celebrating business growth, innovation, and entrepreneurship, the program features four distinct categories including the Technology Fast 50 Ranking and Companies-to-Watch Awards (early-stage Canadian tech companies in business less than five years, with the potential to be a future Deloitte Technology Fast 50 candidate). Program sponsors include Deloitte, Gowlings, Wellington Financial, TMX Group, HUB International HKMB, National Angel Capital Organization, CVCA, MaRS and IGLOO Software. For further information, visit www.fast50.ca.
About Deloitte''s 2012 Technology Fast 500™
Technology Fast 500™, conducted by Deloitte & Touche LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences, and clean technology companies -- both public and private -- in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2007 to 2011.
© 2012 GuestLogix. All Rights Reserved. ®OnTouch is a trademark of GuestLogix Inc. and is registered in the United States and may be pending or registered in other countries. All other trademarks and trade names are the property of their respective owners.
This news release includes certain forward-looking statements that are based upon current expectations including the anticipated benefits to GuestLogix of the acquisition of Initium Onboard, which involve risks and uncertainties associated with GuestLogix'' business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect GuestLogix'' current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations including that GuestLogix may not realize all of the anticipated benefits from the acquisition of Initium Onboard as well as the matters discussed under "Risks and Uncertainties" in the GuestLogix management''s discussion and analysis filed on July 16, 2012 with the regulatory authorities. GuestLogix assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, other than as required by applicable laws.