Romania’s Vola.ro tops again Deloitte CE Technology Fast 50 ranking

The ranking targets the fastest growing technology companies in the region, based on the revenue growth rate experienced over the 2007-2011 period.

"Results of this year’s Deloitte Central Europe Technology FAST 50 confirm that Romanian companies active in the technology sector are successfully facing the global crisis challenges and are further consolidating their foothold in the region," Deloitte said in a press release.

Vola.ro had an average revenue growth rate of 17,323% over the past five years, Deloitte said.

Five other Romanian companies entered the ranking this year.

Computer software developer TeamNet International ranks 16th with a growth rate of 870%. SmartTel, a company specialising in mobile banking, occupies the 14th position with an 894% growth rate. IT and consulting company Crys Computers posted a 597% rise in revenues and ranked 25th.

Software development and consulting company Misoft Systems occupies the 28th place with a growth rate of 501% while its peer Ingenio Software ranked 43rd with a 264% revenue growth.

Companies from eight countries entered this year's ranking. Their average growth over the last five years dropped slightly to 1,026% from 1,068% in 2011.