Cobalt Group Among Fastest-Growing Technology Companies on the 2003 Deloitte Technology Fast 500
SEATTLE--Oct. 1, 20036, 2003--| Cobalt Attributes 830% Revenue Growth to Its Ability to Deliver Powerful E-Business Solutions for Automotive Retail Market |
The Cobalt Group today announced that it ranked number 326 on the 2003 Deloitte Technology Fast 500, a ranking of the 500 fastest-growing technology companies in North America. This is the fourth year in a row the company has been included in the national ranking. Rankings are based on average percentage revenue growth over five years from 1998 to 2002. Cobalt, the leading provider of e-business software and services to the automotive retail market, grew 830 percent during this period.
In addition to ranking on the Deloitte Technology Fast 500, Cobalt ranked 19th on the Deloitte & Touche Washington Technology Fast 50, a ranking of the 50 fastest-growing technology firms in Washington State.
"Since its founding in 1995, Cobalt has grown to become the leading e-business provider to the automotive retail market -- now serving more than half of the nation's automobile dealerships, endorsed by 18 automobile manufacturers and the National Automobile Association," said John Holt, The Cobalt Group's president and CEO. "We have been able to successfully support our clients with the right mix of technology and expertise to deliver powerful results for their businesses."
"Growing the top line enough to make the Deloitte Technology Fast 500 is especially meaningful during tough times for the technology sector," said Mark A. Evans, national managing partner of Deloitte Technology, Media & Telecommunications Group. "We congratulate The Cobalt Group on becoming one of the 500 fastest-growing technology companies in North America."
The Fast 500 list is compiled from Deloitte's 20 regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research. To qualify for the Fast 500, companies must have had 1998 operating revenues of at least $50,000 USD and $75,000 CD, for the United States and Canada, respectively, and 2002 revenues must have been at least $1 million USD or CD. Deloitte researchers examined financial statements to validate operating revenues.
Entrants must also be public or private companies headquartered in North America and must be a "technology company," which Deloitte defines as a company that owns proprietary technology that contributes to a significant portion of the company's operating revenues, or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology in a unique way does not qualify.
About The Cobalt Group
The Cobalt Group (www.cobaltgroup.com) works exclusively in the automotive retail market developing integrated e-business programs that help manufacturers and dealers increase their profits and operational efficiencies. Cobalt offers a broad range of products and services, including enterprise software; customer relationship management (CRM) applications; e-commerce applications; the industry's largest OEM parts locating and marketing service; and e-business best practices training and consultation. Cobalt's network includes 12,000 franchised dealers and 72 of the 100 largest dealer groups. Cobalt is the only software technology provider ever endorsed by 18 manufacturers and the National Automobile Dealers Association (NADA).
About Deloitte
Deloitte, one of the nation's leading professional services firms, provides audit, tax, financial advisory services and consulting through nearly 30,000 people in more than 80 U.S. cities. The firm is dedicated to helping its clients and its people excel. Known as an employer of choice for innovative human resources programs, Deloitte has been recognized as one of the "100 Best Companies to Work For in America" by Fortune magazine for six consecutive years. "Deloitte" refers to Deloitte & Touche LLP and affiliated entities. Deloitte is the US member firm of Deloitte Touche Tohmatsu. Deloitte Touche Tohmatsu is a Swiss Verein (association), and, as such, neither Deloitte Touche Tohmatsu nor any of its member firms have any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the name "Deloitte," Deloitte & Touche," "Deloitte Touche Tohmatsu" or other related names. The services described herein are provided by the US member firm and not by the Deloitte Touche Tohmatsu Verein. For more information, please visit Deloitte's web site at www.deloitte.com/us.
Deloitte Technology, Media & Telecommunications (TMT) Group
The TMT Group is composed of service professionals who have a wealth of experience serving technology, media and telecommunications companies throughout the world in areas including cable, communications providers, computers and peripherals, entertainment, media and publishing, networking, semiconductors, software, wireless, and related industries. These specialists understand the challenges that these companies face throughout all stages of their business growth cycle and are committed to helping them succeed. Deloitte is a leader in providing strategic, financial and operational assistance to its technology, media and telecommunications clients.