Sygic has achieved a growth of 995% over last 5 years, according to Deloitte

Sygic is again among fastest growing technology companies from 13 countries of Central and Eastern Europe, ranking number 15 in Deloitte's Techno­logy Fast 50 this year.


“The main elements of this success are customer focused strategy and a product running on multiple platforms and types of devices,” says Michal Štencl CEO and founder of Sygic. “Our growth is happening on operating systems that did not even exist five years ago.”


Sygic, previously awarded number 6 in the subcategory Rising Stars of Technology Fast 50 Central Europe in 2008 and 2009, is the fastest growing IT company in Slovakia. Sygic revenue has grown by 995% over last 5 years. This year the GPS navigation company is also ranking in the Deloitte Technology Fast 500 EMEA 2011. The program recognizes the 500 fastest-growing technology companies across Europe, the Middle East and Africa (EMEA), based on percentage revenue growth over the last five years. The exact ranking will be revealed at a ceremony held on 24. November 2011.


At its beginning Sygic entered a well developed market. Today it is competing neck to neck with the big players. “Vision and hard work paid out. But I will not deny that we had a bit of luck as well,” concludes CEO Michal Štencl.


The Deloitte Technology Fast 50 program was started in Silicon Valley, California in 1995 and has expanded into a Technology Fast 500 in North America, Asia-Pacific and Europe. This program operates independently in 17 countries outside of the United States and in one region – Central Europe. The Central European Technology Fast 50 ranks fast-growing technology companies in the Czech Republic, Hungary, Latvia, Estonia, Poland, Slovakia, Bulgaria, Romania, Serbia, Croatia, Slovenia, Bosnia and Herzegovina and Lithuania. Besides the main category awarding top Technology Fast 50 companies, there are two subcategories to this program: 10 top Rising Stars, ranking companies younger than 5 years, and the Big 5, ranking companies with minimum annual revenue EUR 25 million.


The complete rankings are available at: www.deloitte.com/fast50ce


Media contact: Simona Parnicka, sparnicka@sygic­.com



About Sygic: www.sygic.com


At Sygic we develop and sell turn-by-turn voice guided GPS navigation for a wide range of mobile devices. Our software is delivered worldwide in more than 30 languages. We are working together with map industry leaders for supreme mapping support.


Our customers are considered a part of Sygic development family. We listen and respond to suggestions about application and ideas for features from our customers, to create the best product possible.


In 2010, Sygic was acknowledged as the 4th fastest growing IT Company in Central and Eastern Europe by Deloitte, based on business results from previous five years.