Region’s fastest-growing technology firms named

iFitness by PM Connect

Five Midlands headquartered tech firms, all in private technology, media and telecoms (TMT), have seen their sales grow by an average of 91% per year over a three year period, to now have combined sales of £100m and employ 570 people, according to the latest Sunday Times Hiscox Tech Track 100 league table.

Steve McGerr, head of direct commercial at Hiscox Insurance UK, said:”Tech businesses in the Midlands are thriving thanks to the fearlessness and determination of those that run them. We have great admiration for the talented entrepreneurs that make up the companies on this year’s Tech Track 100.”

Last year only three Midlands based firms made the Tech Track 100, and one of the new entrants this year is Solihull based Biosite Systems, whose workforce management systems have been used on 1000 construction sites, registering 200,000 construction workers by its biometric finger print recognition system: its sales in 2017 reached £6.4m, which is a growth of 74% over the last three years, and it now employs 117 staff.

The other West Midlands based business to make this year’s Tech Track 100 is PM Connect, headquartered in Birmingham, which provides mobile content to clients such as World Wrestling Entertainment and the NBA. It too has enjoyed impressive growth over the last three years – 59% – to achieve current sales of £19.3m, with a workforce of 35 employees.

James Macfarlane, PM Connect Group CEO, said:  “To be included in the Sunday Times Hiscox Tech Track for the second year running shows that, as a company, we continue to go from strength to strength. PM Connect’s success is down to our hard-working team, but also our dynamic, resourceful mind-set and a genuine commitment to providing the very best solutions for our clients and their customers.

“Mobile payments offer a huge opportunity that only the most forward thinking brands are currently taking advantage of. As a frontrunner in the industry, we hope to help more companies take the plunge. With several more deals in the pipeline, this is an incredibly exciting time for PM Connect, and this ranking just cements the fact that the only way is up for mobile payments.”

Overall, the 100 companies on the list achieved combined sales of £3.3bn, and they employ 19,300 staff. Firms are defined as being in the tech space by the London Stock Exchange’s techMARK definition of a technology business as one that “shows a commitment to innovation, research and product development”, while operating in sectors that includes software, internet, telecoms and biotech.

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