TORONTO, ONTARIO--(Marketwired - Nov. 13, 2013) - GuestLogix Inc. (GXI.TO), the leading global provider of onboard retail and payment technology solutions to airlines and the passenger travel industry, today announced that it has been recognized as one of Canada's fastest growing technology companies in the 16th annual Deloitte Technology Fast 50™ awards. GuestLogix also ranked among the 500 fastest growing technology companies in North America in the Deloitte Technology Fast 500™. These awards are granted for technological innovation, entrepreneurship, rapid growth and leadership based on the percentage of revenue growth over five years.
"Being recognized for our continued growth for five consecutive years is a testament to the Company's commitment to delivering innovative technology and services to the passenger travel industry," said GuestLogix President and Chief Executive Officer, Brett Proud. "Aside from the strength of our product offerings, I attribute the Company's growth to our team's dedication to making GuestLogix the leader in onboard retail technology, not only in Canada and North America, but worldwide."
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.
"Canadian Fast 50 companies innovate, demonstrate leadership, create jobs, and invest in R&D," said Richard Lee, Deloitte's National Managing Partner, Technology, Media & Telecommunications. "GuestLogix is a company that shows dedication, drive and commitment, which is key to growth in the Canadian technology sector."
GuestLogix was ranked 39th on the Deloitte Fast 50™ and 375th on the Deloitte Fast 500™ and achieved a 204% revenue growth rate over the past five years.
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.
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, 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,) Leadership Awards (companies that demonstrate technological leadership and innovation within the industry) and the Deloitte Technology Green 15™ Awards (Canada's leading GreenTech companies that promote a more efficient use and re-use of the earth's resources in industrial production and consumption.) Program sponsors include Deloitte, Bennett Jones and OMERS Ventures. For further information, visit www.fast50.ca.
GuestLogix Inc. (GXI.TO), the leading global provider of onboard store technology and merchandising solutions, brings over a decade of expertise as a trusted onboard transaction processing partner to airlines, rail operators and the passenger travel industry. GuestLogix helps its customers to create, manage, and control onboard retail environments tailored to their needs and their passengers for a truly personalized experience. The Company is partnered with global leaders in catering, duty-free and inflight entertainment, offering complete onboard retailing services to airlines and rail operators worldwide. GuestLogix' global headquarters and centre for product innovation is located in Toronto, with regional head offices located in Dallas, London and Hong Kong. More information is available at www.guestlogix.com.
© 2013 GuestLogix. All Rights Reserved.
This news release includes certain forward-looking statements that are based upon current expectations, 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 the matters discussed under "Risks and Uncertainties" in the Filing Statement filed on November 11, 2013 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.