COLOR KINETICS NAMED ONE OF NEW ENGLAND'S
FASTEST GROWING TECHNOLOGY COMPANIES
Deloitte & Touche Honors Color Kinetics Among the Prestigious Technology Fast 50
Boston, MA - July 29, 2003 - Color Kinetics Incorporated, the pioneer of intelligent LED-based illumination technologies, today announced its recognition as one of New England's fastest growing technology companies by Deloitte & Touche LLP, one of the nation's leading professional service firms. Color Kinetics was named to the firm's prestigious Technology Fast 50 program for New England based on outstanding percentage of growth in fiscal year revenues over five years (1998-2002).
"We're very pleased to be named a Technology Fast 50 company - an honor that reflects both the strength of our technology and our success in the marketplace," said George Mueller, Chairman and CEO, Color Kinetics. "Our commitment to innovation and wide-ranging intellectual property ensure Color Kinetics' continued growth as the leader in intelligent solid-state illumination - a category that's transforming the $40 billion global lighting market."
"Technology Fast 50 companies have shown the strength, vision and temerity to succeed despite a very challenging technology environment," said Stephen J. DiPietro, co-chair of the 2002 New England Technology Fast 50 and a partner in Deloitte & Touche's Technology, Media and Telecommunications practice. "We applaud Color Kinetics for its tremendous accomplishments during economically challenging times and for being one of the elite Fast 50 companies in New England."
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 1998 and $1,000,000 in 2002, must be public or private companies headquartered in North America, and be a "technology" company defined as owning proprietary technology that contributes to a significant portion of the company's operating revenues (using other companies' technology in a unique way does not qualify); and/or devoting a significant proportion of revenues to research and development of technology.
Winners of the 20 regional Technology Fast 50 programs in the United States and Canada are automatically entered in the Deloitte & Touche Fast 500 program, which ranks North America's top 500 fastest growing technology companies. For more information on the Deloitte & Touche Fast 50 or Fast 500 programs, visit www.fast500.com.
About Deloitte & Touche
Deloitte & Touche, one of the nation's leading professional services firms, provides assurance and advisory, tax, and management consulting services through nearly 30,000 people in more than 80 U.S. cities. The firm is dedicated to helping its clients and its people excel. Known as an employer of choice for innovative human resources programs, Deloitte & Touche has been recognized as one of the "100 Best Companies to Work For in America" by Fortune magazine for six consecutive years. Deloitte & Touche refers to Deloitte & Touche LLP and related entities. Deloitte & Touche is the U.S. national practice of Deloitte Touche Tohmatsu. Deloitte Touche Tohmatsu is a Swiss Verein, and each of its national practices is a separate and independent legal entity. For more information, please visit Deloitte & Touche's web site at www.deloitte.com/us.
About Color Kinetics
Color Kinetics Incorporated is the pioneer of intelligent solid-state illumination technologies. The company designs, manufactures and markets an award-winning line of products that apply the practical and aesthetic benefits of LEDs to transcend the limits of traditional light sources for use in professional, consumer, and OEM and licensing applications. Its flagship line of technologies leverage a patented layer of digital intelligence, called Chromacore®, to generate and control millions of colors and dynamic lighting effects. Color Kinetics leads the industry in solid-state lighting innovation, including the custom engineered Chromasic® microchip, and holds a growing patent portfolio encompassing a number of emerging digital technologies. Founded in 1997, the company is privately held and is headquartered in Boston, MA with offices in the UK, China, and a joint venture in Japan. More information can be found at http://www.colorkinetics.com.
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