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RapidMind Named One of Canada’s Select “Companies-to-Watch” in the 2007 Deloitte Technology Fast 50 Awards
Waterloo, Ontario - September 20, 2007 - RapidMind has won a coveted Companies-to-Watch Award, one of four separate awards categories that make up the 2007 Deloitte Technology Fast 50 Awards, which is celebrating it 10th anniversary as the pre-eminent technology awards program in Canada.
Companies-to-Watch Awards honour early-stage Canadian technology companies in business less than five years. These companies exemplify many of the winning characteristics of Deloitte Technology Fast 50 ranked companies, which are judged using a longer track record.
To win the award, companies must display the kind of management expertise and superior technology that mark a successful early-stage company poised for continued growth. To qualify for the Companies-to-Watch Award, candidates must have been operating less than five years and be headquartered in Canada. They must also devote a significant portion of their operating revenues to creating proprietary technology and/or intellectual property.
Over the last decade, the Deloitte Technology Fast 50 program has tracked the successful growth of Canadian-grown global leaders such as Research in Motion (RIM), which has ranked among the Deloitte Technology Fast 50 every year since the program’s inception in 1997.
RapidMind’s President and CEO Ray DePaul attributes RapidMind’s market success to its vision to foresee the emerging software industry crisis as hardware vendors such as Intel® and AMD® continually drive computing performance by adding cores to “multi-core” processors. “The software industry at large is not equipped to tap the enormous performance benefits of multi-core processors,” said DePaul. “The RapidMind Platform simplifies the development of multi-core applications, minimizes the impact on development costs and timelines and ensures resulting applications leverage the full potential of the processor.”