Sep 23, 2003
Open Systems International Inc. (OSI), an industry leader providing open and high-performance automation solutions to electric utilities worldwide, has been recognized as a member of the Minnesota Technology Fast 50 for 2003 by Deloitte & Touche.
OSI's growth of 378% over the past five (5) years ranks OSI the 18th fastest growing technology company in Minnesota, ahead of several respected Fortune 500 companies including Medtronic, Inc. and Lawson Software.
To qualify for the Technology Fast 50, a company must be: in business for a minimum of five years, with 1998 operating revenues of at least $50,000 and 2002 operating revenues of at least $1 million; a technology company, strictly defined as one owns indigenous technology that contributes to a significant portion of the company's operating revenues; manufactures a technology-related product; devotes a high percentage of effort to the research and development of technology; or uses proprietary technology to significantly improve the delivery of technology services, and the company is headquartered in Minnesota.
"Indeed this is a great honor for OSI to have received this recognition, and we certainly owe it to the trust of our customers and the hard work of our employees. It is a privilege to be included in this special club along with many respected Fortune 500 companies," said Bahman Hoveida, OSI's President and CEO.
"To succeed during prosperous times is one thing; to succeed in adversity is much more challenging, and that's exactly what the Deloitte & Touche Technology Fast 50 winners have done," said Ron Hafner, Deloitte & Touche partner. "We applaud Open Systems International for its tremendous accomplishments during economically challenging times and for being one of the elite Fast 50 companies in Minnesota."
OSI will join the other winners of the 19 regional Fast 50 programs in the U.S. that are automatically entered in the Deloitte & Touche Technology Fast 500 program, which ranks the nation's top 500 fastest-growing technology companies.
Deloitte & Touche (www.deloitte.com/us), one of the nation's leading professional services firms, provides assurance and advisory, tax and management consulting services through nearly 30,000 people in more than 80 U.S. cities. The firm is dedicated to helping its clients and its people excel. Known as an employer of choice for innovative human resources programs, Deloitte & Touche has been recognized as one of the "100 Best Companies to Work For" in America by Fortune magazine for six consecutive years. Deloitte & Touche refers to Deloitte & Touche LLP and related entities. Deloitte & Touche is the U.S. national practice of Deloitte Touche Tohmatsu. Deloitte Touche Tohmatsu is a Swiss Verein, and each of its national practices is a separate and independent legal entity.
OSI (www.osii.com) provides open, state-of-the-art, and high-performance automation solutions to electric utilities worldwide. These solutions include Energy Management Systems (EMS), Distribution Management Systems (DMS), Supervisory Control and Data Acquisition (SCADA) Systems, and Generation Management Systems (GMS), as well as individual software products and e-business solutions for electric utility operations. OSI is headquartered in Minneapolis, Minnesota, USA.
For additional information regarding this news release please contact news@osii.com.
