COPENHAGEN, Denmark, October 2003
The leading financial magazine of Denmark, called Dagbladet Børsen, together with Dun & Bradstreet, has named Milestone Systems as one of the fastest-growing companies in the country.
'Børsen' is the Scandinavian word for stock exchange, and the name of the leading Danish financial newspaper, as well. In 1995, together with Dun & Bradstreet, the paper started conducting an annual survey of the fastest-growing companies in the country, dubbing them 'gazelles'. This business term has become an established concept in the Danish culture since then. A gazelle in the business world is a company that has shown fast and positive growth over 4 years, doubling its revenues or more during this period.
Milestone Systems has been named as one of the top 20 IT companies on the Gazelle 2003 awards list. Other companies on the total list include such leading international organizations as Microsoft Business Solutions, Eli Lilly, Lundbeck, Vestas Wind Systems, and Dell Computer.
Founded in 1998, Milestone has grown quickly to over 35 employees, with positive cash flow since its inception. The company is a world leading developer of network video surveillance software with 150 partners in 50 countries who sell and implement the solutions. The Xprotect® product line is operating on 35,000 cameras globally.
The video surveillance market is undergoing a major evolution these days, as traditional analog security systems based on old-fashioned video tapes and proprietary hardware are being replaced with 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 full solution, as opposed to the proprietary offerings of the traditional CCTV market.
Revenues for the company come not only from end-customer sales through the reseller network, 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 proud to be included in the list of Gazelle companies this year," states Lars Thinggaard, CEO at Milestone Systems. "We are working hard to ensure that the positive results will continue, including agreements with a significant number of important new partners and developing our product line in response to the market needs for tomorrow."