Open Text today announced it ranked 11th in Business 2.0 magazine's list of the 100 fastest growing technology companies, called the 2004 B2 100. The ranking was Open Text's highest, a significant move up from 49th when Open Text last placed in the B2 100.
The list, which is featured in the magazine's June issue, is created from a pool of more than 2,000 publicly traded companies. The selection is narrowed to those with at least $50 million in revenues, and positive cash flow from operations in the most recently reported 12 months. Companies are then ranked using a rigorous combination of financial criteria: Growth in revenue, profit and operating cash flow during the past three years, and the 12-month stock market return.
"We offer this year's collection of B2 100 companies as a primer on shifting trends and inventive strategies," said Josh Quittner, editor of Business 2.0, in a news release announcing this year's ranking.
"The B2 100 is based on a comprehensive analysis of financial data. We're honored to place so highly," said Alan Hoverd, Chief Financial Officer of Open Text. "Customer demand for the ECM software solutions we provide continues to grow and that has been driving our strong performance over the last year."
For more information on the 2004 B2 100, go to the Business 2.0 website: www.business2.com
About Business 2.0
Business 2.0, a magazine about business, technology and innovation, is published out of the FORTUNE Group at Time Inc., a Time Warner company. To learn more, visit www.business2.com
About Open Text
Open Text(TM) is the market leader in providing Enterprise Content Management (ECM) solutions that bring together people, processes and information in global organizations. Throughout its history, Open Text has matched its tradition of innovation with a track record of financial strength and growth. Today, the company supports more than 17 million seats across 13,000 deployments in 31 countries and 12 languages worldwide. For more information, go to: www.opentext.com