Airvana, a leading provider of network infrastructure products used by wireless operators to provide mobile broadband services, has been named to Deloitte's prestigious Technology Fast 50 Program for New England, a ranking of the 50 fastest growing technology, media, telecommunications, and life sciences companies in the area by Deloitte & Touche USA LLP, one of the nation's leading professional services organizations. Rankings are based on the percentage revenue growth over five years from 2002-2006.
Airvana's President and CEO, Randy Battat, credits the strong demand for mobile broadband services for the company's rapid growth. "Our products are being deployed by major wireless operators to provide significantly higher performance services to their customers," Battat said. "We continue to invest in the future of mobile broadband through new and innovative products such as our femto cell personal base stations."
"Deloitte's New England Technology Fast 50 companies have shown the strength, vision and tenacity to succeed in today's very competitive technology environment," said Stephen DiPietro, Partner, Deloitte & Touche LLP. "We applaud the successes of Airvana and acknowledge it as one of the very few to accomplish such a fast growth rate over the past five years."
Airvana's increase in revenues of 3,628 percent from 2002 to 2006 resulted in a fourth place ranking in the Technology Fast 50 for New England. The average increase in revenues among companies who made the Technology Fast 50 for this region was 2,137 percent.
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2002 and $5,000,000 in 2006, be headquartered in North America, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify.
Companies from the 16 regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte's Technology Fast 500 program, which ranks North America's top 500 fastest growing technology, media, telecommunications and life sciences companies. For more information on Deloitte's Technology Fast 50 or Technology Fast 500 programs, visit www.fast500.com.
About Airvana
Airvana is a leading provider of network infrastructure products used by wireless operators to provide mobile broadband services. Airvana's software and hardware products enable wireless networks to deliver broadband-quality multimedia services to mobile phones, laptop computers and other mobile devices. These services include Internet access, e-mail, music downloads, video, IP-TV, gaming, push-to-talk and voice-over-IP. Airvana's solutions enable new services and deliver carrier-grade mobility, scalability and reliability with relatively low operating and capital costs.
Worldwide, Airvana's mobile broadband systems are deployed on six continents in 16 major networks by industry-leading service providers who demand high standards of carrier-class performance. Airvana is headquartered in Chelmsford, MA, USA. For more information, please visit the company's Web site at http://www.airvana.com/
Airvana Safe Harbor Statement
Any statements in this press release about future expectations, plans and prospects for Airvana, including without limitation statements about expectations related to the Company's future performance and the timing for product releases constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. These statements typically contain the words "believes," "anticipates," "plans," "expects," "will" and similar expressions. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including without limitation the highly competitive and rapidly evolving market in which Airvana competes, Airvana's limited operating history, the fluctuation of its past operating results and its reliance on sales through Nortel Networks for a significant portion of its revenues and product and service billings and other factors discussed in Airvana's prospectus filed with the Securities and Exchange Commission on July 20, 2007 pursuant to Rule 424. In addition, the forward-looking statements included in this press release represent Airvana's views as of the date of this press release. Airvana anticipates that subsequent events and developments will cause its views to change. However, while Airvana may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Airvana's views as of any date subsequent to the date of this press release.