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DELOITTE & TOUCHE TECHNOLOGY FAST 500 RANKS RED HAT ONE OF THE FASTEST-GROWING TECHNOLOGY COMPANIES IN NORTH AMERICA
RaleighUnited States, January 3, 2001
Rapid Growth Driven by Tremendous, Global Demand for Open Source Internet Infrastructure Solutions
Red Hat, Inc. (Nasdaq:RHAT), the leader in developing, deploying and managing open source Internet infrastructure solutions, today announced that it ranked Number 193 on the Deloitte & Touche Technology Fast 500, a ranking of the 500 fastest-growing technology companies in North America. Rankings are based on five-year percentage revenue growth from 1995-1999.
"Red Hat's exemplary dedication to achieving significant growth over the past five years is evidenced by its placement on the Deloitte & Touche Technology Fast 500, a ranking of the 500 fastest-growing technology firms in North America," said Mark A. Evans, managing director of Deloitte & Touche's Technology & Communications Group. "We salute Red Hat's exceptional accomplishments in today's very competitive technology marketplace."
"Demand for open source solutions is expanding globally across our lines of business, enterprise, small and medium sized business, and equipment manufacturers," said Matthew Szulik, CEO of Red Hat. "This award validates Red Hat's success in providing a comprehensive line of Internet infrastructure solutions, ranging from powerful, back-end Web servers to development tools and the software and services behind a new generation of Internet-connected devices."
Overall, companies that ranked on the Technology Fast 500 had an average growth rate of 3956 percent over the past five years. The majority of Fast 500 winners, or 46 percent, are in the software industry. Seventeen percent are in the Internet industry, and nine percent are in the biotechnology industry. The remaining companies are in medical, technical and scientific manufacturing at nine percent, communications at nine percent, computers and peripherals at five percent and semiconductors, components and electronics at two percent, with the remaining three percent in other types of technology.
In addition to the Deloitte & Touche Technology Fast 500, Red Hat ranked Number 10 on the North Carolina Fast 50, which is a ranking of the 50 fastest-growing technology firms in North Carolina.
Red Hat, Inc.
Red Hat (Nasdaq:RHAT) offers users one single, trusted point of contact and a common platform for developing, deploying and managing open source across Internet infrastructure and devices that connect to the Internet, ranging from small embedded devices to high availability clusters and integrated Web server/ecommerce OSes. And the Red Hat Network, Red Hat's unique management technology, helps companies worldwide easily manage it all by delivering open source products, service, support and information on-line in real-time.
In addition to the award-winning Red Hat Linux server operating system, Red Hat offers Stronghold Secure Web Server and Credit Card Verification Software for secure e-commerce and is the principal provider of GNU-based developer tools and support solutions for a wide variety of embedded processors. Red Hat also provides run-time solutions such as Linux, eCos, uClinux, the award-winning RedBoot, custom engineering services, support and training to organizations in all embedded and Linux markets.
Red Hat is headquartered in Research Triangle Park, N.C. and has offices worldwide. For investor inquiries, contact Lippert/Heilshorn at (212) 838-3777.
Red Hat Europe was established in July 1999 with its European
headquarters based in Surrey, United Kingdom and offices throughout
Europe. Red Hat Linux is sold and supported through a number of major
distribution and industry partners throughout Europe and from
About Deloitte & Touche
Deloitte & Touche, one of the nation's leading professional services firms, provides assurance and advisory, tax, and management consulting services through 30,000 people in more than 100 U.S. cities. The firm is dedicated to exceeding the expectations of its clients and its people. Known as an employer of choice for its innovative human resources programs, Deloitte & Touche has been recognized as one of the "100 Best Companies to Work for in America" by Fortune magazine for three consecutive years. Deloitte & Touche is part of Deloitte Touche Tohmatsu, one of the world's leading professional services firms, with more than 90,000 people in over 130 countries. For more information on Deloitte & Touche, visit www.us.deloitte.com.
For more information on the Deloitte & Touche Technology Fast 500 or Technology Fast 50 programs, visit http://www.fast500.com.
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Forward-looking statements in this press release are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that statements in this press release
that are not strictly historical statements, including, without limitation, management's plans and objectives for
future operations, and management's assessment of market factors, constitute forward-looking statements which involve risks and uncertainties. These risks and uncertainties include, without limitation, product plans and
performance, the ability of Red Hat to attract users to redhat.com, the lack of demonstrated widespread acceptance of e-learning as an effect training tool, reliance upon strategic relationships, management of growth, the possibility of undetected software errors, the risks of economic downturns generally, and in Red Hat's industry specifically,
the risks associated with competition and competitive pricing pressures, the viability of the Internet, and other risks detailed in Red Hat's filings with the Securities and Exchange Commission, copies of which may be accessed through the SEC's Web site at http://www.sec.gov.