UK technology firms in the lead

cashThe top 50 fastest-growing tech companies in the UK generated more than £963 million in total annual revenues in the last year, according to Deloitte.

Diverse aspects of technology are represented in the top 50.

Software and internet firms dominated (fully 82%) but electronics, media & entertainment, telecommunications and green tech firms were also among the top leaders.

Together they employ more than 8,500 people, increasingly outside London and the South East although 56% are still based there.

Of the CEOs surveyed, 82% said they were either strongly or somewhat aiming on becoming a listed company in the coming 12 months.

Just under a quarter of these companies have benefitted from venture capital or private equity firm investment over the last five years, but 40% are hoping to access such funding during the coming year.

At the top of the list is Switch Concepts, based in Southampton, which was the fastest-growing UK tech firm last year. From a start point in 2008, it grew last year by 10,477%.

Its business is in digital advertising, matching up ad spaces with advertisers in a move away from the bulk buying of advertising space. Under the system offered, advertisers can bid instantly for a single online ad space.

The company says it took its inspiration from high-frequency trading technology in the financial services industry and transposed it for internet advertising.