CRN Fast Growth Awards Honor Solution Providers With Revved Up Revenue

The 2007 CRN Fast Growth 100 Executive Summit Awards were presented Monday evening in front of a packed ballroom at the Manhattan Marriott Marquis. The awards honor solution providers that, during the past two years, have experienced major revenue increases in a number of categories. The winners of the evening came from every segment of the VAR universe: large and small, government to healthcare, storage to security.

VP and Editorial Director of the CMP Channel Robert DeMarzo and Senior Editor Jennifer Bosavage presented the awards. The Top CRN Fast Growth Company for the second consecutive year was awarded to Groupware Technology, a $58.9 million VAR that saw revenue grow an astronomical 3,192 percent. The award recognizes the largest percentage increase among the Fast Growth companies, and was presented to Mike Thompson, president and CEO of Groupware. The company also won for Top Revenue generator (by percentage growth) among solution providers in the $50 to $150 million range.

The Top Revenue Generator in the less than $50 million range was Iteration2, number five on the overall list, with 567 percent revenue growth. Since its start in 2004, this company has made selling Microsoft Dynamics software a multimillion-dollar business, raking in $22 million in 2006, up more than 500 percent since its inception. Next year, the company expects to bring in at least $30 million in 2007. The $22 million VAR was recently bought by Hitachi Consulting.

The winner in the $150 million to $250 million range was enterprise storage solutions provider Veristor. During the past four years, $158 million VeriStor has leveraged its industry experience and relationships to create storage solutions for more than 150 enterprise and government organizations. Jim Glueckert, COO, accepted the award.

In the $250 million-plus category, Presidio, number 13 on the listing, took the honors. Presidio's growth has increased by 286 percent, reaching $695 million. The integrator is on track to become a billion-dollar VAR with its recent merger and acquisition strategy. Divisional co-president Robert Murphy accepted the award.

The largest CRN Fast Growth company has already hit that billion-dollar mark, with $1.4 billion in revenue. To keep up with its 143 percent pace of growth, Cognizant hires an average of 10 people daily, which equates to 15,000 new employees annually. The offshoring giant is aiming at a $2 billion target for 2007.

CRN recognized other solution providers for their innovative solutions. In the Wireless Communications category, Axispoint, number 18 on the list, was honored for its implementation of a wireless project for the entire Mount Vernon, N.Y. School District, which included 11 elementary schools, two middle schools and two high schools.

Sword and Shield was honored for Innovative Management Strategy. This company has made a name for itself by specializing in network security services, providing its expertise not only in the United States, but also in areas as diverse as Turkey, Saudi Arabia and South Korea. It is currently implementing an employee stock ownership plan, and its CEO, Will Henderson, who accepted the award on behalf of the company, prides his company on maintaining an open management style with employees.

In technology practices, CRN Fast Growth honored excellence in storage, security, software and convergence. Storage winner Carahsoft, with 2,548 percent growth, has made a significant, long-term investment in its dedicated, government-focused sales divisions. The $91.1 million VAR is second on the Fast Growth list overall. In security, NWN came in on top, growing 2,282 percent between 2004 and 2006. The $118.1 million solution provider has a reputation in quickly and expertly tailoring solutions to meet customers' needs.

Incentra, number 4 on the Fast Growth list, was awarded the Software Specialist honor. At $66.6 million and 671 percent growth, the company recently purchased Helio and SSI, acquisitions that likely will add to its rapid growth rate. Single Path, with 315 percent growth, received the CRN Fast Growth Convergence Specialist award, in recognition of its dedication to the improvement of customer interaction, while focusing on price, product and operational efficiencies.