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Bosnia's NSoft posts fastest growth among SEE tech firms in Deloitte ranking

Bosnia's NSoft posts fastest growth among SEE tech firms in Deloitte ranking atm2003/

SOFIA (Bulgaria), October 16 (SeeNews) - For a second consecutive year Bosnian betting and gaming software provider NSoft is leading the entrants from Southeast Europe (SEE) in Deloitte's ranking of the top 50 fastest growing technology companies in central Europe, according to figures posted on Deloitte's website.

NSoft, which is Bosnia's only representative in 2017 edition of  Deloitte Technology Fast 50 in Central Europe report, ranked 7th with 1,990% revenue growth in the four-year period between 2013 and 2016, figures show.

Mostar-based NSoft ranked highest among SEE entrants in 2016 edition of the fastest growing technology companies during the period 2012-2015, with revenue growth rate of 1,760%.

To be considered eligible for the ranking, the technology companies must have an ownership structure that excludes majority-owned subsidiaries of strategic entities, and have their headquarters in Bulgaria, Bosnia and Herzegovina, Croatia, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia, Deloiite said.

The 2017 ranking comprises companies which meet the criteria of annual revenues of at least 50,000 euro ($54,500) in each year between 2013 and 2016, development of proprietary technologies or spending a significant amount of capital on research and development (R&D).

Croatia was the SEE country with the highest number of representatives in 2017 edition of the ranking - 8. The highest ranked Croatian company was the developer and manufacturer of high-performance electric cars Rimac Automobili which was in 10th position with 1,059% growth over the period.

Bulgaria has two representatives in the ranking - technology firm Titan Gate and IT services provider Accedia, placed 16th and 26th, respectively.

Three Romanian companies were included in the ranking, with systems integration company Trencadis showing the highest growth rate among them during the last four years - 710%.

Polish companies dominated the rankings with 19 representatives while Czech online travel agency topped the list of the fastest growing tech firms in central Europe, recording a growth of 7,165% over the period 2013-2016.

The growth is calculated by comparing the revenues of a company in the first and the last year of the four-year period.