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October 23, 2002
Paragon Networks Ranked Number 265 Fastest Growing
Technology Company in North America on the 2002 Deloitte
& Touche Technology Fast 500
Brookfield, CT, - Paragon Networks today announced
that it ranked number 265 on the 2002 Deloitte & Touche
Technology Fast 500, a ranking of the 500 fastest growing
technology companies in North America. Rankings are
based on percentage revenue growth over five years,
from 1997-2001. Paragon Networks grew 1,399 percent
during this period.
Paragon Networks' CEO, Russ Hawkins, credits Paragon's
continued focus on customer needs with the company's
1,399% revenue growth over the past five years. He said,
"At Paragon, every employee at every level is focused
on maximizing our customers' satisfaction. This award
is evidence of our success."
Mark A. Evans, managing director, Deloitte & Touche
Technology, Media & Telecommunications Group, added,
"Because the Deloitte & Touche Technology Fast 500 measures
sustained revenue growth over five years, being one
of the 500 fastest growing technology companies in North
America is an impressive accomplishment. We are proud
to honor Paragon Networks as a Deloitte & Touche Technology
Fast 500 winner."
In addition to ranking on the Deloitte & Touche Technology
Fast 500, Paragon Networks ranked number 6 on the Deloitte
& Touch Technology Fast 50 for Connecticut, which is
a ranking of the 50 fastest growing technology firms
in Connecticut.
Fast 500 Selection and Qualifications:
The Fast 500 list is compiled from three sources: Deloitte
& Touche's 20 regional North American Fast 50 programs,
nominations submitted directly to the Fast 500, and
public company database research. To qualify for the
Fast 500, companies must have had 1997 operating revenues
of at least $50,000 USD and $75,000 CD, for United States
and Canada respectively, must be public or private companies
headquartered in North America, and be "technology companies"
defined as companies that own proprietary technology
that contributes to a significant portion of the company's
operating revenues or devote a high percentage of effort
to research and development of technology.
Technology Fast 500 winners are invited to an exclusive
CEO Summit held each spring. The CEO Summit, now in
its fifth year, is designed to address the unique business
challenges facing these super-charged technology companies.
About Paragon Networks
Paragon Networks manufactures products that, using either
wireline, wireless, or optical transmission facilities,
provide voice and data service connectivity, performance
monitoring, compression, aggregation, layer 3 routing,
quality of service filtering, and protection switching
of both client and operations support systems traffic.
Leading global wireless service providers such as Verizon,
Cingular, Sprint PCS, Telcel, Nextel, and others around
the world utilize Paragon Networks' products and technologies.
Designed specifically for wireless service providers
(WSP), Paragon Networks' suite of backhaul solutions
enable the rapid deployment of voice and data services
and provide a migration path to 3rd Generation networks.
Paragon Networks is a privately held company with ownership
shared between leading venture capital companies and
its employees. Headquartered in Brookfield, Connecticut,
Paragon Networks distributes its products worldwide
through a network of both direct and indirect channels.
For more information, visit Paragon Networks' web
site at www.paragon-networks.com
or contact:
Lisa DeVoto
Marketing Communications Manager
Paragon Networks
Telephone: (203) 740-3650
ldevoto@paragon-networks.com
Mark Agovino
Product Marketing Director
Paragon Networks
Telephone: (203) 740-3650
magovino@paragon-networks.com
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