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Making it into the Tech Track 100


Reading-based Invenio Business Solutions, which develops business management products based on SAP software for clients in government and manufacturing, has been named the Thames Valley company with the fastest growing sales record.


Invenio was the top regionally- based company in the latest Sunday Times Tech Track 100 league table, which ranks Britain’s private tech companies over the latest three years of accounts. Its revenues were £7.5 million this year with sales growth averaging almost 118% annually.


Co-founder Partho Bhattacharya has


led expansion, opening offices in Los Angeles and Germany this year. Maldives residents can now submit online tax returns thanks to Invenio, which was founded in 2006 and now has a staff of 65.


Invenio came in at 24th nationally – a big improvement on last year’s 51st placing – and was just five places ahead of fellow Reading company Infracast, which handles more than 50 million text messages on its platform each month for customers such as British Airways, Lloyds and NHS Direct.


Under founder David Angers, sales reached £5.8m this year, averaging 103% growth a year. The business,


founded in 2001 and now with 25 staff, is looking to expand internationally.


Two Basingstoke companies made the table’s top 50. Farncombe (42nd) provides advisory and engineering services to customers such as Sky and BT, with clients including eight of the top ten EU pay-TV operators


It had revenues of £8.5m in 2012 with the sales growth averaging 76%. Founded in 1991 by Andrew Glasspool, in 2006 managing partners Steve Upton and Jean-Marc Racine bought into the business which now has a staff of 48.


Siracom (46th) bundles together WiFi products for re-sellers such as RM and Capita. Over 2,500 schools and universities use its WiFi systems and it also offers consultancy and integration services.


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The firm was founded by David Thompson and Rob Leggett in 2001, growing revenues to £16.4m in 2012 with sales growth averaging almost 75% a year. It now has a staff of 20.


Oxford Immunotec (49th), based at Abingdon, claims its tuberculosis screening product is quicker and more accurate than established methods, and its use helped sales reach £13.4m in 2012 to average sales growth of 69% a year.


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Imperial Innovations and others have invested £18.2m in the University of Oxford spin-out, co-founded by chief executive Peter Wrighton-Smith in 2002. It now has a staff of 131and sells its tuberculosis diagnosis product to hospitals in over 40 countries


Reading-based Pulsant (57th) provides managed IT services – including cloud computing and hosting – from 10 data centres in the UK. Chief executive Mark Howling has overseen three acquisitions in the past two years, including two former Tech Track 100 companies. These moves helped sales reach a


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total of £30.4m in 2012, averaging sales growth of 62% a year. The three-year-old company already employs over 130 people


Four more Oxfordfshire companies made the lower reaches of the 100 table. ULS Group (73rd) at Thame has developed a website on which mortgage brokers compare solicitors’ conveyancing fees, while housebuyers can access the service via MoneySupermarket. com. Founded by Nigel Hoath and Andrew Weston in 2000, it also does identity checks and is adding probate and divorce quotes. Revenues were £10.6m in the year to March 2013, averaging sales growth of over 50% a year. It now has a staff of nearly 50.


Wantage-based Purdicom (85th) sets up wireless networks in schools, hotels, offices and on military bases. Demand for WiFi – and government funding to roll it out to smaller market towns and villages across the UK – helped the firm increase sales to £9.2m in 2012. Founded in 2005 by Hugh Garrod, sales growth averaged 44% a year and it now has a staff of 22.


Olive Business Solutions (91st) at High Wycombe is a telecoms firm which works with customers whose employees are not based in an office, and has big construction clients such as Mace and Keltbray, for whom its mobile phone service helps reduce the cost of multi-site communications. Under chairman Mark Geraghty sales increased to £11.9m in 2013, averaging 43% a year. It was founded in 2003 and now has a staff of nearly 60.


Multinationals including Vodafone and ReckittBenckiser use Oxford consultancy AgilityWorks (94th) to integrate and improve business applications. Founder Storry Warner led the business to £6m sales in 2012, averaging growth of 42% a year. Founded in 2006 and now with a staff of 50, the company is looking overseas for additional growth.


Tech Track 100 is compiled by Oxford- based Fast Track and will stage an awards event in November.


THE BUSINESS MAGAZINE – THAMES VALLEY – NOVEMBER 2013


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