GainSpan Ranked Number 78 Fastest Growing Company in North America on Deloitte's 2013 Technology Fast 500™ Attributes Strong Revenue Growth to Innovative Ultra- Low-Power Wi-Fi Technology that Enables the "Internet of Things"
SAN JOSE, Calif., Nov. 13, 2013 /PRNewswire/ -- GainSpan Corporation, a leader in ultra-low power Wi-Fi connectivity for the Internet of Things, today announced it ranked 78th on Deloitte's Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America, and 3rd among semiconductor companies. GainSpan grew 2500 percent during the reference period.
GainSpan CEO Greg Winner credits the company's revenue growth to its highly integrated Wi-Fi system on chip (SoC) and solution that consumes low power extends battery life significantly and enables the Internet of Things. "Our previous generation of chips and modules brought us to this point, and now with our new GS2000 SoC we foresee accelerated growth," he said. "The Internet of Things is happening now and low power Wi-Fi is a technology of choice to connect a device or appliance—such as a weight scale, smart thermostat, video camera or audio speakers-to a smartphone or to the cloud.
"As a first-time entrant, being selected a Technology Fast500 company is a tremendous honor and validates our vision in extending Wi-Fi and the Internet Protocol to all kinds of devices," said Winner.
"The 2013 Deloitte Technology Fast 500 companies are exemplary cases of those spurring growth in a tough market through innovation," said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications leader. "This year's list is a who's who of companies behind the most exciting and innovative products and services in the technology space. We congratulate the Fast 500 companies and look forward to what they do next."
"The fastest growing companies in the US are drivers of constant innovation and operate with the agility to stay ahead of a quickly evolving marketplace, and software, biotech/pharma and internet companies continue to be at the forefront," added James Atwell, national managing partner of the Emerging Growth Company practice, Deloitte Services LP. "The companies excelling in these sectors have a startup mentality that allows them to be nimble and adapt quickly, which is why they consistently lead the list of fast-growing companies each year."
Based on numerous forecasts by Cisco, market research firms and other major industry players, the number of "things" predicted to be connected to the Internet will reach 50 billion devices by 2020. GainSpan wireless solutions are—and will continue to be--a key enabler of the Internet of Things, making possible a whole new class of line powered or battery powered products for connected home applications, healthcare and fitness, smart energy, commercial and industrial applications and a whole range of consumer devices, among others.
About Deloitte's 2013 Technology Fast 500™
Technology Fast 500, conducted by Deloitte LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private - in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2008 to 2012.
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 or CD, and current-year operating revenues of at least $5M USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About GainSpan Corporation
GainSpan, a spinoff of Intel Corporation, is an innovator and leader in semiconductor solutions for wireless connectivity for the rapidly emerging Internet of Things. GainSpan solutions let customers quickly create connected products for Smart Energy, healthcare and control/monitoring in industrial, commercial and residential markets. With a broad portfolio of state-of-the-art low-power Wi-Fi and ZigBee/Wi-Fi chips, modules and software, GainSpan is changing the world by connecting Things to the Internet and People to Things. GainSpan is a member of the Wi-Fi Alliance® and ZigBee Alliance. www.gainspan.com.
Carol Felton, Communications/PR
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SOURCE GainSpan Corporation