iDirect Named Number 17 in the Inc 500 List of Fastest Growing Private Companies

iDirect Named Number 17 in the Inc 500 List of Fastest Growing Private Companies


10.19.2005


Herndon, VA -- October 19 -- iDirect Technologies, a leading manufacturer of satellite based broadband hardware and software solutions has been named to the Inc. 500 2005 list of fastest growing private companies for the second year in a row. With revenue growth of 2,573% from 2002 to 2004, and 2004 revenue exceeding $50M, iDirect was ranked 17th in Inc. Magazines annual list of 500 top growth companies.

iDirect CEO, John Kealey attributes the companies success to its strategic partnerships with industry leading satellite service providers. By focusing solely on hardware solutions, iDirect is able to enter into cooperative partnerships with service providers like France Telecom and MCI instead of competing against them. "In 2001, we closed down our service side of the business and focused on hardware. Our partners know we are committed to their success, not competing for their slice of the pie." This strategy has clearly been successful for iDirect, taking the company from less than $6M in revenue in 2002 to revenues in excess of $50M in 2004. iDirect is projecting strong continued growth for 2005 and was recently acquired by Singapore Technologies. The company is confident this new partnership will allow iDirect to deliver a more complete package of solutions to customers, and allow the team to take iDirect to even further levels of success

The Inc. 500 recognizes the fastest-growing private companies based in the U.S. each year.


About iDirect Technologies

iDirect Technologies, a subsidiary of Vision Technologies Systems Inc., designs, develops, and markets satellite-based broadband access solutions targeted at the enterprise, government, carrier and educational sectors that have the need for fast, flexible, and geographically dispersed two-way internet/intranet access. The company has developed technology solutions that combine high performance, worldwide availability, and ease of installation, high reliability, and low cost to end customers. In addition, iDirect solutions offer unprecedented efficiencies, increased revenue opportunities and higher per customer gross margins to satellite network operators. iDirect was awarded the 2005 World Teleport Association Teleport Technology of the year, the Innovation & Technology of the Year by The ISCe Advisory Board, and named number one in the Deloitte & Touche Virginia Technology Fast 50 list of the fastest-growing U.S. technology companies. iDirect operates its corporate headquarters in Herndon, Virginia and has regional offices in Europe, Asia, and covering Latin America. Additional information is available on the company website at www.idirect.net.


Contact:

iDirect Technologies
Jon Douglas
Marketing and Communications
703-648-8042
jdouglas@idirect.net