Saturday 20 April 2013

Tops in Europe!

Red Herring has recognised Europe’s leading private companies and celebrating their innovations and technologies across their respective industries as its Top 100 award winners were announced. 

The Top 100 Europe list has become a mark of distinction for identifying promising companies and entrepreneurs. Red Herring’s editors were among the first to recognize that companies such as Facebook, Twitter, Google, Yahoo, Skype,, YouTube, and eBay would change the way we live and work. Red Herring selects companies that show the most potential for disruption and growth. This year's Top 100 Europe 2013 list featured the Irish and international provider of process optimisation solutions, Automsoft. (Seven other Irish companies featured in other technologies such as mobile & internet communications.)

Alex Vieux, publisher and CEO of Red Herring said “We looked at hundreds and hundreds of candidates from all across the continent, and after much thought and debate, narrowed the list down to the Top 100 Winners. Each year, the competition gets tougher but we believe Automsoft demonstrates the vision, drive and innovation that define a Red Herring winner.”

Paraic O’Toole, Automsoft’s CEO said “It’s a great honour to be selected as one of Red Herring’s Top 100 Tech companies in Europe for 2013. It is a testament to the innovation and creativity of our team over the last number of years, as well as our many customers around the world who have implemented our software and are deriving tangible benefits for their business from our software.”

Automsoft is a software company that has developed revolutionary technology for managing time-series data – collection, storage and web-based analytics. Time series data is generated by sensor networks, control systems, metering systems across industries such as smart grid, process manufacturing, micro-grid, oil and gas and many others. Time-series data management is the last big challenge in Big Data – how to collect, store and analyze massive volumes of the data generated by the increasing network of devices generating this type of data. Typically, in database technology, the greater the volume of data in the database, the slower the performance. This has been particularly true for time series data. Automsoft’s revolutionary technology has, for the first time, broken the link between database volume and performance so that all of the data can be analysed without a performance impact. It is the result of many years of research, is live in thousands of sites around the world and is now starting to be applied in the smart grid and cleantech world.

Red Herring’s editorial staff evaluated the companies on both quantitative and qualitative criteria, such as financial performance, technological innovation, management quality, overall business strategy and market penetration. This assessment was complemented by a review of the track records and standings of similar companies in the same verticals, allowing Red Herring to see past the “buzz” and make the list a valuable instrument of discovery and advocacy for the most promising new business models in Europe.

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