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Anittel is fastest growing Aust tech company

Anittel is fastest growing Aust tech company

Anittel (ASX:AYG) is the fastest-growing technology company in Australia, after growing its revenue by more than 1,000% in the last three years, according to Deloitte.

The IT and telecom service provider took the top rank in Deloitte's Fast 50 list of rapidly-growing Australian IT, communications, biotech, components and hardware companies. Deloitte attributed the growth to Anittel's aggressive acquisition strategy over the past year.

Anittel is also one of eight Australian technology companies to have achieved annual revenues of over $50 million. The others are ISPs iiNet (ASX:IIN) and M2 Telecom (ASX:MTU), online commerce sites Energy Matters, Catch of the Day, iSelect and Aussie Farmers Direct, and software company Atlassian Corporation.

All told, 23 internet companies made the top 50 list, along with 12 telecom and networking companies, 11 from the software sector and four computer and peripheral suppliers. No biotechnology or pharmaceutical companies were included this year, down from three in 2010.

Deloitte estimates that the 50 companies on the list currently generate combined annual revenue of $2.2 billion. This is up from $1.8 billion in 2010.

Nearly all of the top 50 are located in either New South Wales (25) or Victoria (19). But SurfStitch is based in Queensland, and iiNet's headquarters are in Western Australia.

Value-added peripheral distributor Observatory Crest Australia is the second-fastest growing Australian technology company, with nearly 870% revenue growth over the last three years.

Online insurance comparison provider BizCover is third, followed by online surf shop SurfStitch, and wholesale telecom service provider Vocus Communications (ASX:VOC).

The fastest-growing software company, SaaS-based mobile media service provider TigerSpike, was in 11th place overall with 220% revenue growth over the past three years.

Deloitte also named online shopping club brandsExclusive as this year's “rising star,” an award given to high-growth companies that do not qualify for the main list, due to either not having three years of revenue data available or making less than the $8 million minimum cut-off over this time.

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