WebTech, Tranzeo and Ascalade are among the fastest growing on continent
Michael Kane
Sun
British Columbia‘s status as a hotbed of wireless technology was confirmed Wednesday when three Vancouver-area firms were named among the 50 fastest growing in North America.
All the more remarkable is that the three managed to outpace many U.S. rivals when the Canadian dollar was much weaker than it is today, said Fraser Liptrot, a partner in the technology practice at consultants Deloitte in Vancouver.
The first-ever Deloitte Wireless Fast 50, compiled in the U.S, identifies North America’s fastest-growing wireless companies based on five years of fiscal year revenue growth between 2002 and 2006.
Wireless Inc. of Burnaby, Tranzeo Wireless Technologies Inc. of Pitt Meadows, and Ascalade Communications of Richmond.
“I think it is fantastic for companies in B.C. to compete against much larger and well-financed neighbours in this industry and to grow as much as they have,” Liptrot said in an interview.
“The thing that strike me about all of these companies is their global reach. We should be proud that Vancouver has companies that compete with the U.S. and have far-flung operations.”
According to the Wireless Innovation Network of British Columbia, the industry employs more than 5,500 people and generates revenues in excess of $1 billion.
To qualify for the Fast 50 list, companies must have grown operating revenues from at least $50,000 US in 2002 to more than $5 million US in 2006. They must also own proprietary wireless technology or intellectual property.
WebTech Wireless, ranked 18th with growth of 1,888 per cent, is a leading provider of wireless tracking devices for the transportation industry.
With about 130 employees, it sells in 41 countries around the world. Development takes place in Burnaby while most manufacturing is outsourced to China.
“This recognition tell us that we’re doing the right things,” said CEO and co-founder Anwar Sukkarie. “We’re executing very well in our business plan. This tells us that our customers really put value in our products and services, and investors trust in our outlook and vision.”
Tranzeo Wireless, ranked 23rd with growth of 1,072 per cent, employs about 110 people to develop and manufacture high-performance wireless network equipment.
It operates a distribution centre in San Diego and recently opened an office in Shannon, Ireland, to serve a growing base of customers and distributors throughout Europe, Africa and the Middle East.
“It is very exciting to be named to the Deloitte Fast 50,” said Tony Kot, vice-president of sales and marketing.
“One of the beauties of Tanzeo is we do all of our own design, development and manufacturing in-house. We’re not working with third-party product that we get from Taiwan or a trade show.”
Ascalade Communications Inc., ranked 31st with growth of 503 per cent, designs, develops and manufactures digital wireless and communication products, including digital cordless phones and digital wireless baby monitors.
Thirteen Canadian companies made the inaugural Top 50, including Ottawa‘s BTI Systems Inc. which tied for fourth place with Toronto‘s Tira Wireless Inc. at 16,610 per cent growth, and Toronto‘s MyThum Interactive which placed sixth with 13,900 per cent growth.
© The Vancouver Sun 2007