EION Ranked Among Fastest Growing Companies in North America

Fifth Major Award for Ottawa Based Company this Year

OTTAWA, Canada - October 20, 2009 EION Wireless, a Canadian manufacturer of broadband wireless products, today announced that it has been a ranked on Deloitte’s 2009 Technology Fast 500. This award is in addition to EION’s ranking on the Technology Fast 50 earlier this month. The Deloitte Technology Fast 500 is a ranking of five hundred of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on percentage of fiscal year revenue growth during the five year period from 2004 to 2008.

2009 has been a busy year on the awards circuit for EION Wireless. The Ottawa-based technology company has racked up five major awards so far this year. In addition to today’s announcement of the Technology Fast 500 placement, EION Wireless has also been presented with; the WiMAX Distinction Award for its Libra MAX product family, the Communication Solutions Product of the Year Award from Technology Marketing Corporation for the LibraPlus Family, the 2009 Ontario Centres of Excellence Mind-to-Market Award in the ITC Category, and a ranking on the Canadian Deloitte Technology Fast 50 List.

EION’s CEO, Dr. Kalai Kalaichelvan, credits new product innovation and thanks our loyal customer base with the company’s remarkable revenue growth over the past five years. He said, "The team at EION has done an extraordinary job of anticipating market demands by creating an impressive suite of WiMAX enabled products for wireless broadband distribution. EION’s Libra MAX WiMAX product family is the most flexible broadband wireless product in the marketplace today, and has been deployed worldwide by smart and innovative service providers."

“With its impressive five-year growth, EION Wireless has earned its position among the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America,” said John Ruffolo, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. “Deloitte is proud to honor EION Wireless for its achievement.”

Deloitte’s Technology Fast 500 recognizes innovative companies that have broken down barriers to success and defied the odds with their remarkable five-year revenue growth. Overall, companies that ranked on the 2009 Technology Fast 500 had growth rates ranging from 212 to 146,050 percent over five years, with an average growth rate of 2,486 percent.

On October 1st this year, EION was also ranked on the list of the fifty fastest growing technology companies in Canada.

Technology Fast 500 Selection and Qualifying Criteria

The Technology Fast 500 award program ranks the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. It is compiled from nominations submitted directly to the Technology Fast 500 website, and public company database research conducted by Deloitte. Deloitte’s 2009 Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth during the five year period from 2004 to 2008.

In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues. Using other companies' technology or intellectual property in a unique way does not qualify. Consulting companies, professional service firms, etc. are not eligible unless they have proprietary technology that contributes to a significant portion of their operating revenues. Technology Fast 500 award eligibility requirements include a base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, these revenues must have more than doubled between 2004 and 2008. Also, companies must be in business for a minimum of five years, and be headquartered within North America.