Top 25 Software Companies
The Canadian Software category illustrated its resiliency in 2009, rebounding from an overall decline of seven per cent in 2008, to increase revenues by 13 per cent to $4.48 billion this year. The software sector’s leaders faired even better, combining to increase sales 17 per cent from $3 billion in 2008 to $3.52 billion in 2009. Open Text solidified its status as Canada’s leading software player in 2009, increasing revenues by eight per cent year over year to $822.28 million. The enterprise content management solutions provider strengthened its product portfolio in its 2009 fiscal year with the acquisition of U.S.-based Captaris, a document automation solutions provider, for slightly more than $100 million.
Mitel Networks made its first appearance on the Top 25 Software Companies listing in the second position in 2009, increasing revenues six per cent year-over-year to $769.36 million. Over the past decade, Mitel inverted its product portfolio from hardware-intensive products to software solutions, with the majority of the shift completed to date.
Rounding out the top three on this year’s Top 25 Software Companies listing is Constellation Software, which increased sales by an estimated 30 per cent to $449.91 million in 2009.
Meanwhile, Montreal-based Averna led all top software companies in growth this year, increasing revenues by 66 per cent to $48.50 million in 2009.
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