Entraction Tops Deloitte’s Sweden Technology Fast 5023rd October 2009 8:26 am GMT
Swedish online gaming operator Entraction Holding AB has been ranked in first place in a yearly ranking of Sweden's fastest growing technology companies by Deloitte and the Swedish Private Equity & Venture Capital Association.
Each year the 50 fastest growing technology companies in the country, "Sweden Technology Fast 50" are designated by Deloitte. The ranking includes both public and private companies and covers all types of technology ranging from the Internet to computer equipment.
This year, the seventh year of the awards, Entraction has been awarded as the fastest growing of all the companies, having seen growth of 4204% from 2004 to 2008 and revenues now amounting to SEK346 million.
"I am very proud of this award and see it as an acknowledgement of the commitment and hard work of all Entraction employees. Entraction has in a short time developed from a poker company to a leading international supplier of systems for online gaming," said Peter Åström, CEO of Entraction.
"We are operating in a growth industry and continue our efforts to increase our revenues from each gaming vertical (poker, casino, betting and bingo) as well as from new markets."
In a separate category for companies with short activity, rapid growth and potential for growth, "Rising Stars", fellow online gaming operator Redbet Holding came in fifth place with growth of 577% from 2006 to 2008 and revenues of SEK94.2 million.
Shares in Entraction Holding AB (Co. Profile) (STO:ENT-B) have gained 3.00% to SEK60.00 in Stockholm this morning following the announcement.