Five Ottawa companies have been named among the fastest-growing tech companies in Canada and the United States by Deloitte, with DragonWave Inc. and March Networks making list for the second year in a row.

Digital surveillance systems maker March Networks was the highest-ranked among the five firms, taking 229th place with 712-per-cent growth between 2002 and 2006. The company posted US$76.2 million in revenues last year, up from the $9.3 million seen five years earlier.

Management software and training services provider N-able Technologies was next on the list in 235th place, with revenues growing by 686 per cent over the five-year period to $14.2 million in 2006, followed by 236th-ranked wireless networking equipment maker DragonWave Inc. with a 683-per-cent increase in sales to $24.2 million.

Rounding out the list were Bridgewater Systems, which makes policy management software for Internet protocol (IP)-based services, in 421st place with a 321-per-cent gain to $31 million, and IP networking and broadband wireless products firm EION Wireless, which took 428th place with a 316-per-cent jump to $6.1 million.

In total, 42 Canadian companies made the Fast 500 list, led by 26th-ranked video processing semiconductor design company ViXS Systems Inc. of Toronto, which had revenue growth of 6,472 per cent.

"Canadian technology companies have some of the highest revenue growth rates in North America, while playing in some of the world's largest, most competitive and exciting market sectors," said Deloitte technology analyst John Ruffolo in a statement. "To finish in or near the top 100 on the Deloitte Technology Fast 500 ranking is testament to the business acumen and entrepreneurial spirit that fuels these companies and the Canadian technology industry."

The report noted that most of the top Canadian companies were in the software sector – 23 of the 42 companies on the list – followed by the communications and networking equipment industry, which produced 11 of the top companies in the country.

The fastest-growing tech company on the overall list was New York City-based SIRIUS Satellite Radio Inc., which had revenue growth of 79,060 per cent over the five-year period, reaching $637.2 million in sales in 2006.

The Fast 500 list is comprised of North American tech companies in business for at least five years, with minimum 2002 revenues of US$50,000 and 2006 revenues of at least US$5 million.