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Institute of Information Technology, Inc. Wins Fast Tech 50 Award
Houston - November 10, 2004 - Institute of Information Technology, Inc. (IIT) a leading provider of logistics solutions for the transportation and public safety organizations has been awarded the prestigious recognition as a member of the "Fast Tech 50 2004" a premiere business award that recognizes the 50 fastest-growing high technology companies in the Houston metropolitan area. IIT ranked 3rd out of the 50 combined public and private companies that were selected based on revenue growth from 2002 to 2003. This is the second consecutive year that IIT has managed to secure this award having won the 5th ranked position last year.
"We feel extremely pleased to be part of this prestigious group contributing to the success of the business community in Houston," said Dr. Surya Sahoo, President and CEO of IIT. "Being recognized for this achievement for the second year in a row is greatly attributed to the hard work from our team of very dedicated staff. We were able to deliver quality products and great customer satisfaction to our clients." added Dr. Sahoo.
To qualify for the Fast Tech 50, a company's headquarters or a foreign company's U.S. headquarters must be located in Houston's standard metropolitan statistical area; a minimum of 51 percent of the company's consolidated net revenues must be involved in the original manufacture, design or development of technology products or delivery of services; and a nominee must have minimum net revenues of more than $200,000 in both years. Representatives from PKF Texas validated the information on the nomination form submitted by each company.
The Fast Tech 50 is presented by the Houston Business Journal and sponsored by PKF Texas, Admin Staff, Frost Bank, Jackson Walker L.L.P, the Houston Technology Center, Pierpont Communications, and Rice Alliance. The award was presented at a luncheon banquet at the Hilton Americas Hotel in downtown Houston on November 5, 2004.
In addition to this award, IIT's implementation of its routing algorithm was selected as a finalist for the 2004 Franz Edelman Award for Management Science Achievement earlier this year. This is the highest award given by the Institute for Operations Research and the Management Sciences to recognize and reward outstanding examples of management science and operations research practice in the world.
"We are very thankful to our premier clients including the largest trash hauling company here in Houston, for providing us with the opportunity to serve them. We will certainly build upon these successes to continue providing excellent value to our clients in our products and services." said Dr. Sahoo.
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