5 Cambridge tech firms in UK’s top 50 fastest growers: Ubisense stars
Five of the top 50 companies in advisory firm Deloitte's Technology Fast 50 are based in Cambridge.
Fast 50 ranks the quickest growing firms in the UK tech sector.
The highest ranked business was Ubisense, 16th in the list, down from 2nd last year. It has achieved a revenue growth of 2,513% over the past five years to earn its place in this year's list.
Fellow Cambridge companies BlueGnome, Jagex Ltd, Intamac and Widget UK Ltd were ranked 20, 21, 27 and 38 respectively.
Ubisense, which develops ‘ultra wideband' radio location technologies, has had a successful year, partnering with blue chip names such as IBM, Accenture, Lockheed Martin and Raytheon.
Ubisense CEO Richard Green said: "It's been challenging but we have had a good year. Our technology cuts manufacturing costs by increasing visibility, so in fact we've seen a rise in interest. Some sectors have been slower to make decisions, but not to our detriment."
Ubisense has also been seeking new markets, including the public transport sector, where it has won a number of contracts with regional bus companies to help them precisely track buses when they are parked in garages.
Mr Green said: ‘Previously the bus dispatch team had people walking the floors, noting which lane each bus was in on a big map, so they could be dispatched in order. We've automated this, which has saved many man-hours."
Ubisense's active RFID technology is also doing well, with demand increasing. It now has more than 430 customers, including BMW, Caterpillar, DHL and the US Army.
Beta-testing is underway on a product version to be embedded into production machinery as part of a development agreement with a global tool vendor.
"The company in question has 25 offices in China alone, and more than 800 field sales agents. If we're embedded there's a fantastic challenge ahead," Mr Green said.
David Halstead, Deloitte technology, media and telecommunications partner in Cambridge and chairman of the Technology Fast 50, said: ‘In spite of the challenging financial market conditions, this year's list shows that excellent growth rates are still possible.
"Making the Deloitte Technology Fast 50 is testament to Ubisense's commitment to technology, as it is with all of the companies in the list. Achieving sustained revenue growth over five years is a tremendous accomplishment and deserves a lot of credit."
