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Procera Networks Named to Deloitte's Technology Fast 500 for Second Year in a RowAttributes 962 Percent Revenue Growth to Technology Excellence, Significant New Wins and Follow-On Orders From Tier-1 Mobile and Cable Operators Worldwide (October 19, 2011)
FREMONT, CA -- (Marketwire) -- 10/19/11 -- Procera® Networks Inc. (NYSE Amex: PKT), the intelligent policy enforcement (IPE) company, today announced it was ranked number 109 overall on Deloitte's Technology Fast 500, a ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on the percentage of fiscal year revenue growth during the period from 2006-2010. Procera Networks grew 962 percent during this period.
Procera Network's chief executive officer, James Brear, credits large follow-on orders and significant new wins with Tier-1 mobile and cable operators for the company's 962 percent revenue growth. He said, "We are honored to be recognized, once again, by Deloitte's 2011 Technology Fast 500. Our ranking reflects the technology excellence and fast time-to-market of Procera's Intelligent Policy Enforcement products and the commitment of Procera's employees to contribute to the company's success."
"Procera, like all 2011 Technology Fast 500 companies, have excelled in fostering innovation and channeling it into spectacular growth -- against the backdrop of one of the most a challenging economies in history," said Eric Openshaw, vice chairman and U.S. technology, media and telecommunications leader, Deloitte LLP. "Deloitte recognizes Procera Networks for its remarkable accomplishment."
"We are pleased to honor Procera Networks as a 2011 technology Fast 500 company," said Mark Jensen, managing partner, technology and venture capital services, Deloitte & Touche LLP. "As one of the fastest growing tech companies in North America, Procera has demonstrated excellence in technological innovation, entrepreneurship and rapid growth."
About Deloitte's 2011 Technology Fast 500
Technology Fast 500, which was conducted by Deloitte & Touche LLP, a subsidiary of Deloitte LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies -- both public and private -- in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2006 to 2010. In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About Procera Networks, Inc.
Procera Networks Inc. delivers Intelligent Policy Enforcement (IPE) solutions, leveraging advanced Deep Packet Inspection (DPI) technology, designed to enable carriers, services providers and higher education institutions to improve the quality and lifetime of their networks, better monetize their infrastructure investments, control hazards, and create attractive services for their users by making qualified business decisions based on granular user and traffic intelligence. Procera's core product suite, the PacketLogic line of platforms, is an engine that drives the PCC (Policy and Charging Control) ecosystem, by enforcing advanced network and service policies.
Safe Harbor Statement: This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in this press release, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, the ability of Procera to commercialize the applicable technology and introduce products and the acceptance of those products by the market, the ability of resellers to sell the Procera products, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's reports and filings with the SEC from time to time.
Procera Networks is a registered trademark, and PacketLogic and DRDL are trademarks of Procera Networks, Inc. All rights reserved. All other products or brands mentioned are trademarks and/or service marks of their respective owners.
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