Intrinsyc Named One of North America’s Fastest Growing Companies on Deloitte’s 2017 Technology Fast 500™
Attributes 196 percent revenue growth to its development of a portfolio of industry-leading embedded computing solutions for high-growth Internet of Things (IoT) products
VANCOUVER, BRITISH COLUMBIA – November 28, 2017 – Intrinsyc Technologies Corporation (TSX: ITC and OTC: ISYRF) (“Intrinsyc”), a leading developer of intelligent connected devices, today announced it has been named to Deloitte’s Technology Fast 500™, ranking 407 on this list of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. Intrinsyc achieved this award as a result of its 196 percent revenue growth over a three-year period, from 2013 to 2016.
Intrinsyc’s chief executive officer, Tracy Rees, credits Intrinsyc’s revenue growth to its strategic shift as a provider of non-recurring engineering services to include the development of a portfolio of industry-leading embedded computing solutions for high-growth IoT products.
“Since 2013 , Intrinsyc has focused on developing the industry’s highest performance embedded computing solutions for a variety of emerging growth IoT products; including robotics, virtual reality, connected cameras, and wearables,” said Rees. “When our computing solutions are designed into our client’s products they typically lead to repeat hardware purchases over multiple years. Every year we have increased our number of clients leading to our strong growth.”
“Intrinsyc has strong technology partnerships and continues to invest in expanding our product portfolio to position the company for future growth, added Rees.
“The Deloitte 2017 North America Technology Fast 500 winners underscore the impact of technological innovation and world class customer service in driving growth, in a fiercely competitive environment,” said Sandra Shirai, vice chairman, Deloitte Consulting LLP and U.S. technology, media and telecommunications leader. “These companies are on the cutting edge and are transforming the way we do business. We extend our sincere congratulations to all the winners for achieving remarkable growth while delivering new services and experiences for their customers.”
“Emerging growth companies are powering innovation in the broader economy. The growth rates delivered by the companies on this year’s North America Technology Fast 500 ranking are a bright spot for the capital markets and a strong indicator that the emerging growth technology sector will continue to deliver a strong return on investment,” said Heather Gates, national managing director of Deloitte & Touche LLP’s emerging growth company practice. “Deloitte is dedicated to supporting the best and brightest companies of the future in the emerging growth company sector. We are proud to acknowledge the significant accomplishments of this year’s Fast 500 winners.”
About Deloitte’s 2017 Technology Fast 500™
Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2013 to 2016.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $50,000 USD, and current-year operating revenues of at least $5 million USD. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.
About Intrinsyc Technologies Corporation
Intrinsyc Technologies Corporation is a product development company that provides comprehensive and tailored solutions that enable the development and production of next-generation embedded and IoT devices. Solutions span the development life cycle from concept to production and help device makers and technology suppliers create compelling differentiated products with faster time-to-market. Intrinsyc is publicly traded (TSX: ITC and OTC: ISYRF) and is headquartered in Vancouver, BC, Canada.
For more information, please contact:
George W. Reznik, CPA-CA, CBV, CFE
Chief Financial Officer
Intrinsyc Technologies Corporation