Top 25 Software Companies
The Canadian Software category was the lone group on this year’s Top 250 that realized a decline, as cumulative revenues fell 4.65 per cent to $4.27 billion in 2010 from $4.48 billion in 2009. The leading software companies appearing on this year’s Top 250 faired slightly better, as the Top 25 firms combined to increase revenues by 1.11 per cent to $3.55 billion in 2010. The overall category decline is somewhat misleading when it comes to analyzing the Canadian Software category’s performance over the past year. The year-over-year decline in revenues in 2010 is largely due to declining representation on the Top 250. In fact, 17 of Canada’s top 25 software players realized positive growth in 2010, with seven of the 17 firms experiencing revenue increases of at least 20 per cent. Forty nine of the 82 software companies on the Top 250 realized positive growth in 2010, with 27 experiencing revenue increases of at least 10 per cent year over year. As such the software category did not have as challenging a year as the cumulative data indicates.
For the second consecutive year, ECM software specialist Open Text ranks as Canada’s premier software company. The Waterloo, Ont.-based company increased revenues by 16.08 per cent to $907.1 million in 2010, up from $781.42 million in 2009.
Ottawa-based Mitel ranks as Canada’s second largest software player. The company, which successfully completed an IPO in early 2010, endured a challenging year that saw its revenues fall 11.86 per cent to $644.4 million in 2010. Rounding out this year’s top three is Toronto-based Constellation Software. It finalized 19 acquisitions during its fiscal year, which contributed to the company’s 44.86 per cent revenue increase as it generated an estimated $630.96 million in 2010.
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