The Cobalt Group Named One of Washington State's Fastest Growing Technology Companies in Deloitte's Technology Fast 50 Program
SEATTLE--Oct. 4, 2004--| Cobalt Recognized by Fast 50 Program for Fifth Consecutive Year with Its Exceptional 184% Five-Year Revenue Growth Rate |
The Cobalt Group has been named to Deloitte's prestigious Technology Fast 50 Program for Washington State, a ranking of the 50 fastest growing technology companies in the area by Deloitte & Touche LLP, one of the nation's leading professional services firms. This is the fifth year in a row Cobalt, the leading provider of customer relationship management and e-business software and services to the automotive retail market, has been acknowledged by Washington State's Fast 50 program for its exceptional growth.
"In the five consecutive years The Cobalt Group has been recognized by the Fast 50, we have grown from a $23 million company to a $70 million plus company -- now with nearly two-thirds of the nation's dealers and 27 automotive manufacturers as clients," said John Holt, president and chief executive officer of The Cobalt Group. "And Cobalt's momentum is continuing to build. In the past year we've gained the endorsement of General Motors and acquired a key automotive software provider to round out our product offering and provide better products and services to our customers. Cobalt is a mature, thriving company thanks to our relentless focus on helping auto dealers and auto manufacturers increase profits and enhance the buying experience."
Cobalt's increase in revenues of 184 percent from 1999 to 2003 resulted in a ranking of 25th in the Fast 50 for Washington State. Rankings are based on the percentage of growth in fiscal year revenues over five years, from 1999 - 2003.
"The Deloitte Washington State Technology Fast 50 companies have shown the strength, vision and temerity to succeed despite a very challenging technology environment," said Larry Hile of Deloitte's Seattle office. "We applaud the successes of The Cobalt Group and acknowledge their place as one of the very few to accomplish such a fast growth rate over the past five years."
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 1999 and $1,000,000 in 2003, must be public or private companies headquartered in North America, and be a "technology company" defined as owning proprietary technology that contributes to a significant portion of the company's operating revenues (using other companies' technology in a unique way does not qualify); and/or devoting a significant proportion of revenues to research and development of technology.
Winners of the 19 regional Technology Fast 50 programs in the United States and Canada are automatically entered in the Deloitte Technology Fast 500 program, which ranks North America's top 500 fastest growing technology companies. For more information on the Fast 50 or Fast 500 programs, visit www.fast500.com.
About The Cobalt Group
The Cobalt Group (www.cobaltgroup.com) works exclusively in the automotive retail market developing integrated technologies 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; online retailing applications; the industry's largest OEM parts locating and marketing service; and dealership best practices training and consultation. Cobalt's network includes 12,000 franchised dealers and more than 70 of the 100 largest dealer groups. Cobalt is the only software technology provider ever endorsed by 27 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. Known as an employer of choice for innovative human resources programs, the firm is dedicated to helping its clients and its people excel. "Deloitte" refers to the associated partnerships of Deloitte & Touche USA LLP (Deloitte & Touche LLP and Deloitte Consulting LLP) and subsidiaries. Deloitte is the US member firm of Deloitte Touche Tohmatsu. For more information, please visit Deloitte's web site at www.deloitte.com/us.
Deloitte Touche Tohmatsu is an organization of member firms devoted to excellence in providing professional services and advice. We are focused on client service through a global strategy executed locally in nearly 150 countries. With access to the deep intellectual capital of 120,000 people worldwide, our member firms, including their affiliates, deliver services in four professional areas: audit, tax, financial advisory services and consulting. Our member firms serve more than one-half of the world's largest companies, as well as large national enterprises, public institutions, locally important clients, and successful, fast-growing global growth companies.
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