135 of 500 fastest growing U.S. technology companies are based in California.SACRAMENTO, Calif.--(BUSINESS WIRE)--Sept. 15, 1995--Leading the nation with 135 of the 500 fastest growing technology companies in the nation, California has once again set the standard for business excellence. Technology Transfer Business magazine published their first annual National Technology Fast 500 list in the Fall 1995 issue. Silicon Valley may not be the only place in the nation for tech companies to succeed, but California is where these companies choose to do business. Though California has been ranked first in Fortune's annual 100 America's fastest growing companies for the past five years, this ranking reaffirms that California is home to specifically the technology industry as well. California's nearest rival was Virginia, in a distant second with 55 companies ranked. "California companies virtually invented high technology, on which rests the future of American manufacturing," said California Trade and Commerce Secretary Julie Meier Wright. "These flourishing flour·ish v. flour·ished, flour·ish·ing, flour·ish·es v.intr. 1. To grow well or luxuriantly; thrive: The crops flourished in the rich soil. 2. companies are a testament to California's commitment to provide the most hospitable hos·pi·ta·ble adj. 1. Disposed to treat guests with warmth and generosity. 2. Indicative of cordiality toward guests: a hospitable act. 3. conditions for business. These businesses will continue to prosper because nothing stands still in California." Ascend Communications Inc. of Alameda Alameda (ăləmē`də, –mā`də), city (1990 pop. 76,459), Alameda co., W central Calif., on an island just off the eastern shore of San Francisco Bay; settled 1850, inc. as a city 1884. , Calif., hasn't stood still in the past five years. The company topped the list with a five year 65,472 percent growth rate. The manufacturer of high-speed network access products has grown so fast by selling the equipment that makes the Internet run. But the company does not intend to stop growing anytime soon. Ascend Communications has already tapped into other lucrative markets such as videoconferencing A real time video session between two or more users or between two or more locations. Although the first videoconferencing was done with traditional analog TV and satellites, inhouse room systems became popular in the early 1980s after Compression Labs pioneered digitized video systems and telecommuting telecommuting, an arrangement by which people work at home using a computer and telephone, transmitting work material to a business office by means of a modem and telephone lines; it is also known as telework. . "California boasts the finest technology companies in the world. When Ascend Communications began to develop we decided to expand in state and plan to continue growing in California," said Mory Ejabat, COO (Cell Of Origin) See mobile positioning. for Ascend Communications. Ejabat said he was surprised to be ranked first. "There are so many great technology companies today, it is an honor As a verb, to accept a bill of exchange, or to pay a note, check, or accepted bill, at maturity. To pay or to accept and pay, or, where a credit so engages, to purchase or discount a draft complying with the terms of the draft. to be ranked among them." The National Technology Fast 500 designates a "technology company" as one that: produces technology, manufactures a technology-related product, is technologically intensive or uses unique technology in problem-solving. The ranking is based on the percentage of corporate revenue growth over the five-year period between 1990 and 1994. This ranking is unique in that both public and private companies were included. The industries represented by the 500 (in order of frequency): information technology, biotech/medical, telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. , manufacturing/materials, instrumentation/electronics, and engineering/technical services. CONTACT: California Trade and Commerce Agency Mike Marando, Lisa Rettig, 916/324-8214 |
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