COPENHAGEN, Denmark, 8 October 2004
The leading financial magazine of Denmark, Dagbladet Boersen, together with Dun & Bradstreet, has again named Milestone Systems as one of the fastest-growing companies in the country. At the same time, Computerworld magazine in Denmark also listed Milestone in its Top 100 .
'Boersen' is the Scandinavian word for stock exchange, and the name of the leading Danish financial newspaper, as well. In 1995, this publication and Dun & Bradstreet began conducting an annual survey of the fastest-growing companies in the country, dubbing them 'gazelles'. This term has now become an established concept in the Nordic business culture. A gazelle is a company that has shown fast and positive growth over 4 years, doubling its revenues or more during this period.
Milestone Systems, included as a gazelle in 2003, has now been named again for 2004, this time as one of the top dozen IT companies on the awards list. Other companies on the total list include such leading international organizations as Eli Lilly, Microsoft Business Solutions, Sonofon, and Pfizer.
Computerworld's Top 100 list is based on evaluations measured by the four main criteria of growth in revenue, rate of return on investment, profit ratio, and proficiency.
Founded in 1998, Milestone has grown quickly to almost 40 employees, with positive cash flow since its inception. The company is a globally leading developer of IP network video surveillance software with 150+ partners in more than 50 countries who sell and implement the solutions. The Milestone product line today is operating on 75,000 cameras worldwide.
The video surveillance market is undergoing an evolution from traditional analog security systems based on videotapes and proprietary hardware to networked digital technology and the web advantages of remote access and control. Milestone Systems had the vision to foresee this trend and created a company of professionals with expertise in real-time data programming to develop an IP-based surveillance solution.
Milestone has achieved a leadership position in the IP video surveillance market thanks to this good timing, and from basing the software on open architecture. This allows customers (and partners) the flexibility to choose from any leading manufacturer's camera or server models in their implementations, as opposed to the proprietary offerings of the traditional CCTV market.
Revenues for the company come not only from end-customer sales through reseller networks, but also from OEM (Original Equipment Manufacturer) agreements. This refers to a number of large international companies who use Milestone technology as part of their own pre-packaged brand offerings.
"We are very pleased to be included again in the list of Gazelle companies, and the Computerworld Top 100 award is more icing on the cake," says Lars Thinggaard, CEO at Milestone Systems. "Increasing demands for IP technology continue to generate new customers, our business strategy is working, and we keep developing the product line to respond to market needs."