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36. Baltimore Technologies
Cryptographic software, hardware
Last year was good to Baltimore Technologies, which grew revenue by 219 percent. The company closed a deal with Commerce One to provide secure transactions for its online marketplaces; it acquired GTE CyberTrust Solutions for $150 million, which increased its U.S. presence; and it paid $24.9 million to gain majority control of privately held NSJ, which sells Baltimores products in Japan.
37. Inktomi
Caching and search software
Inktomi president and CEO David Peter-Schmidt has patented inventions ranging from a jigsaw puzzle to an Internet search engine, but Traffic Server, its performance and caching software, has defined the company. Future success may ride on scale partnership agreements that bundle Inktomi software for enterprise customers with hardware from Compaq, F5 Networks and HP.
38. InfoSpace
Wireless applications
InfoSpace continues to rack up marquee customers — AT&T Wireless, Cingular Wireless and Verizon Wireless all have agreed to use its platform. The company has been hurt by the slowdown in carrier spending, but continues to beef up its content and commerce offerings that allow operators to build portals under their own brands.
39. Allegiance Telecom
Telecommunications services
Allegiance plans to serve 36 major U.S. metropolitan areas, with 57 percent of the U.S. business communications market, by offering local, long-distance, international calling, high-speed data access, and Internet and Web hosting services. Allegiance has installed more than 730,000 business lines for customers nationwide and says it is fully funded to reach its goal.
40. Foundry Networks
Networking equipment
Not only did Foundry dramatically grow its top line last year, the company also boosted profitability, reporting $88.1 million in net income on revenue of $377.2 million for 2000, despite a slowdown in spending by telecom companies. Foundry also inked deals to license its gear to Lucent Technologies and UTStarcom, adding to a similar agreement with HP.
41. CrossWorlds Software
Enterprise application integrator
CrossWorlds rode a hot market in 2000 for software that helps trading partners exchange information between incompatible computer systems. It secured a string of high-profile clients, including Caterpillar and Sony, and introduced prebuilt application connectors. The future looks strong, with CrossWorlds reporting a 181 percent year-over-year increase in revenue in the first quarter.
42. Extreme Networks
Networking equipment
Extreme Networks, like its arch-nemesis Foundry Networks, rode the surging demand for high-performance Ethernet gear to new heights last year. The company targeted broadband service provider customers, pushing technologies like 10-gigabit Ethernet and capitalizing on an exclusive deal with 3Com to take over the high-end core switching business 3Com was discontinuing.
43. Tibco Software
Enterprise application integrator
Strong demand for software to integrate enterprise applications, particularly in financial services, helped Tibco Software more than double its revenue in 2000. It added 343 new customers, bringing its client base to nearly 700, and introduced 22 new products. Revenue in 2001s first quarter was up 95 percent year-over-year to $82.1 million.
44. Tut Systems
DSL network access gear
Tut systems parlayed first-to-market advantage into soaring revenue growth and a major chunk of the market for access equipment for multitenant buildings last year. However, the first quarter of 2001 was devastating, as revenue dropped 70 percent from a year ago. Still, its market should be $2 billion by 2004, offering upside hope.
45. Global Crossing
IP fiber-optic network
While signing major new customers, Global Crossing announced its network was 85 percent complete. At the end of the fourth quarter of 2000, international private line services were available in 29 European cities, Tokyo, and the major cities of Mexico, North America and South America. The sale of the companys GlobalCenter unit to Exodus Communications was also completed.
46. S1
Online financial services software
S1 rode the online banking surge early in 2000, but suffered in the backtow at the end of the year. An acquisition binge helped produce an $800 million loss for the company in 2000s fourth quarter. New CEO Jaime Ellertson said the company is on its way to recovery, adding 72 new customers in the first quarter of 2001.
47. Proxicom
Consulting, systems integration
Dimension Data Holdings (DiData) is proceeding with plans to acquire Proxicom for $448 million. Proxicoms stock had plummeted 94 percent in 2000 as its business slowed, and the company put itself up for sale earlier this year. Compaq Computer offered $344 million, but Proxicom backed out after receiving DiDatas higher bid.
48. Copper Mountain Networks
DSL equipment
After three years of breakneck growth, Copper Mountain Networks revenue in the fall of 2000 was caught in the malaise that hit the DSL space, when carriers slashed spending, turned to Alcatel or went out of business altogether. Still, Copper Mountain is poised to be a serious player in the voice-over-DSL market.
49. Informatica
Analytical software
Informatica has more than 1,200 customers, with a strong presence in entertainment, financial services, insurance, manufacturing, pharmaceuticals and telecommunications. It acquired Zimba, supplier of software to distribute data to mobile workers, for $26 million, and acquired technology and personnel from PricewaterhouseCoopers in a joint marketing deal for $31.8 million.
50. NetSpeak
IP-based communications
NetSpeak has found a lucrative niche in the market for telephony applications using Internet Protocol. In 2000, the company grew revenue by 134 percent. It signed a $15 million deal with Fujitsu Business Communication Systems. Fujitsu agreed to sell NetSpeaks iTELTM product, which uses Motorola voice-over-IP gateways and operates through a companys Fujitsu private branch exchange.