Local firms among fastest growing
Eight Minnesota companies have made Business 2.0 magazine’s list of the nation’s 100 fastest-growing technology companies.Minnesota ranked third among states for most companies on the list. Last year, Minnesota only had one company on the list.
New Hope-based Navarre Corp. was the highest-ranked Minnesota company on this year’s list, coming in at No. 12.
The other Minnesota-based companies on Business 2.0’s list were Minnetonka-based American Medical Systems Holdings Inc. (49), Hutchinson-based Hutchinson Technology Inc. (51), Minneapolis-based Fair Isaac Corp. (62), Hector-based Communications Systems Inc. (64), Fridley-based Medtronic Inc. (67), Minneapolis-based Techne Corp. (87), and Minneapolis-based Possis Medical Inc. (91).
NetEx releases HyperIP
Minneapolis-based NetEx recently released HyperIP, which it calls the industry’s first data replication optimizer that enables maximum data replication acceleration over existing IP networks.
HyperIP ensures that data replication applications are consistently completed on time between distributed servers or storage controllers for compliant disaster recovery applications. For enterprises choosing iSCSI or TCP-based remote replication, HyperIP accelerates data replication over any distance, improving link utilization and shielding against the effect of packet loss, the company said.
NetEx makes data transport products.
IT workers cautious, managers optimistic
The Hudson Employment Index for IT workers fell 21 points in May from 114.2 to 93.2, the lowest reading ever recorded for the IT Index. This decline in confidence was due to a significant decrease in optimism about personal finances and hiring intentions, as well as increased concerns about job loss.
The study found that 19 percent of the workforce expects their organizations to lay off staff in the coming months, up from 17 percent in March and April. Similarly, the percent of workers nervous about losing their own jobs rose to its highest level in more than a year at 22 percent.
Despite workers’ concerns, optimism continues to climb among managers. The percent anticipating their companies will hire in the coming months rose two points to 35 percent, while the percent expecting layoffs dropped a point to 18 percent. Managers in the private sector were even more bullish as the number predicting increased hiring climbed from 44 percent last month to 48 percent in May.
Foundation teams with Digital Pictures
The Foundation formed a new strategic alliance with Digital Pictures Inc., a Minneapolis-based company that specializes in computer products and workflow solutions for film, video, animation and effects.
The combined effort is aimed professionals creating for print and video throughout the Twin Cities ad and creative industries.
The Foundation is a Minneapolis-based technology service company which provides information technology, computer products, and workflow solutions for advertising agencies, graphic design firms, printers and publishers.
Foremost joins OneLynk alliance
Atlanta-based payment processor RBS Lynk signed Minneapolis-based Foremost Business Systems as the newest member of the OneLynk Alliance, RBS Lynk’s value-added reseller program.
Foremost Business Systems will offer RBS Lynk’s payment processing services to their customers.
Foremost is the largest reseller of Radiant Systems’ Aloha Point-of-Sale (POS) solutions in Minnesota. The company supplies Aloha systems to restaurant clients such as Davanni’s, Forepaugh’s, Granite City Food and Brewery, Jax CafŽ and Lord Fletcher’s.
WiFi sales rise to record rates
Worldwide sales of wireless LAN equipment revenue rose 20 percent to $767.6 million between the fourth quarter of 2004 and the first quarter of 2005, according to Infonetics Research’s quarterly market share service.
The study also said that 12.2 million units were shipped, the highest quarterly volume to date. Revenue is expected to rise another 2 percent to $779.6 million by first-quarter 2006, and will hit $3.6 billion by 2008, as wireless LAN products continue to gain traction across most all product categories and across all geographic regions.
The number of wireless LAN switch ports in use rose 44 percent to 112,000; revenue grew 13 percent to $52.2 million and is expected to jump to $699.2 million by 2008.
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