Ticket Software LLC, the parent company of TicketNetwork and TicketNews, was named the overall winner as the state’s fastest-growing technology company during a ceremony Thursday, November 6, hosted by the Connecticut Technology Council (CTC).
The Vernon, CT-based company, which has experienced nearly 5,000 percent revenue growth to more than $80 million annually in the last four years, was also named the top software company in the state. Ticket Software was among 40 Connecticut businesses in competition for the honor.
“It was a fantastic honor,” said Don Vaccaro, CEO of TicketNetwork. “The Connecticut Technology Council is an important part of tech businesses in Connecticut.”
The recognition by the council is the third honor the company has received in as many months, following the Deloitte Fast 50 award from the accounting giant for being one of the fastest-growing technology company’s in the New York metropolitan area, and a designation on the Inc. 5000 list of the nation’s fastest-growing private companies.
New Haven, CT-based accounting firm UHY LLC sponsors the CTC awards, which were based on rankings of a company’s percentage of revenue growth over the four years between 2004 and 2008. The companies must have generated a minimum of at least $50,000 in revenue in the first year and reached at least $3 million in sales by the fourth year.
According to the CTC, among the other criteria that recognized firms must meet includes: 1.) Must be headquartered in Connecticut. Subsidiaries or company divisions are not eligible; 2.) A company must have proprietary technology or propriety intellectual property that contributes to a significant portion of a company’s operating revenue. A company is also eligible if it devotes a significant portion of its revenue to the research and development of technology; 3.) A company that employs the technology of other companies to provide information technology services or is a value added reseller (VAR) or a “systems integrator” is eligible in the category of IT Services; and 4.) A company must be in business for a minimum of four years.
“It is a privilege to extend my words of tribute to both you and all of the employees at Ticket Software LLC. Again, congratulations to you on this very noteworthy honor,” Connecticut Gov. M. Jodi Rell said in a statement.
Winners in other categories were: Pelham Sloane Inc. of Fairfield in Advanced Manufacturing; Clean Diesel Technologies Inc. of Stamford in Energy/Environmental Technology and Telecom; MTM Technologies of Rocky Hill in IT Services; Alexion Pharmaceuticals Inc. of Chesire in Life Sciences; and JobTarget LLC of New London in New Media/Internet.
