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Telerik, a leading provider of development tools and solutions for the Microsoft .NET platform, today announced it has been awarded fifth place in the 2009 edition of Deloitte?s Technology Fast 50 listing of the 50 fastest growing technology companies in Central and Eastern Europe. The prestigious award reflects Telerik?s rising leadership role in the application development space and recognizes it as one of the most progressively growing companies in the region, proclaiming Telerik to be ?a true representation of a modern, cross-border, real-time business.?

?We are proud to be at the top of Deloitte?s distinguished ranking,? said Telerik?s CEO Svetozar Georgiev. ?This high achievement can be accredited to our devotion to innovation and quality, sustainable customer and partner relationships, but most of all to our incredible professionals whose hard work made this possible.?

Deloitte?s Fast 50 award provides global acknowledgement to technology firms owning 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.

?The improved performance compared to last year?s is both in terms of numbers of ranked Bulgarian companies and occupied chart positions,? said Asen Dimov, Partner Audit and Industry leader for the Technology, Media and Telecommunications (TMT) sector in Bulgaria. ?While the growth of the Fast 50 companies on average is down from 1,271% in the previous year, the growth of 933% represent a remarkable achievement in the current business climate. This is to show that despite the challenging times, software companies managed not only to survive but progress by finding alternative niches and providing unique quality solutions,? he concluded.

Earlier this year Telerik expanded its North American operations with the opening of two new US offices in order to respond rapidly and dynamically to mounting customer demand for its latest products. In a separate announcement today, Telerik unveiled the next wave of its entire product lineup, showcasing a number of industry firsts for SQL Azure and Silverlight 3 among the enhancements to its MICROSOFT .NET solutions.

The award is part of the Technology Fast 50 program, which ranks the 50 fastest growing technology, media and telecommunication companies headquartered in Central and Eastern Europe region. Rankings are based on percentage revenue growth over the past three years. Technology Fast 50 winners automatically enter Deloitte's EMEA Technology Fast 500, which ranks the 500 fastest growing technology companies in Europe, Middle East and Africa. The ranking is based on the financial percentage growth over the course of five years. For more information on Deloitte's Technology Fast 500 or Technology Fast 50 programs, visit http://www.fast50ce.com.

About Telerik

Telerik is a leading vendor of ASP.NET AJAX, Silverlight, WinForms and WPF controls and components, as well as .NET Reporting, .NET ORM and .NET CMS solutions. Building on its expertise in interface development and Microsoft technologies, Telerik helps customers build applications with unparalleled richness, responsiveness and interactivity. Created with passion, Telerik products help thousands of developers every day to be more productive and deliver reliable applications under budget and on time.