Top 25 IT Multinational Companies   |  March 18, 2008  

 

 

Multinational companies are foreign-owned with operations in Canada. Their revenues, for the purpose of this listing, are comprised of domestic and/or export revenue generated strictly by the Canadian entity. The Multinationals are acknowledged in the Branham300 for their significant contributions to innovation and to the Canadian workforce and economy.

It is important to note, when reviewing the revenue figures reported here, that the foreign currency exchange rates used when converting U.S. dollars and Euros to Canadian dollars, with the exceptional performance of Canadian currency in 2007, tend to result in a lower figure than in previous years, despite year-over-year growth realized by many firms. Microsoft, for example, exhibited 15 per cent growth over the 12-month period ending June 30, 2007, although the figure reported is lower than that listed for 2006 due to the lower rate of exchange. The best depiction of a company’s performance, given the rate of exchange, is the percentage change in revenue growth over the 12-month period ending 2007. To provide an accurate comparison, the same rate of exchange was used to report 2006 and 2007 figures. Siemens Canada is the only new company to the Top 25 Multinational listing this year, making its debut at number three with revenues of $2.3 billion, a 28 per cent increase in revenue from 2006. Siemens, established in Canada in 1912, provides ICT consulting services from integration to support, with a focus on hardware development for the healthcare sector.

Apple Canada, jumping one spot to number seven, produced estimated revenues of $1.08 billion, a year-over-year increase of 24 per cent. Apple has realized a gradual resurgence of its brand in Canada with the recent availability of the iPod, MacBook and the highly anticipated iPhone. On Oct. 30, 2007, Apple reported that in the first weekend of sales the Mac OS X version 10.5 Leopard sold more than two million copies. This breaks the record previously held by the Mac OS X Tiger.

Returning to the list in the number 25 spot is Keane, acquired in June 2007 by Caritor, specialists in software application and product development and other technology consulting services. The company will proceed under the Keane name, and with Caritor’s history and Keane’s brand success, is positioned to deliver solutions that will help clients improve performance through higher quality and efficiency.

Still thriving from the momentum of significant activity in 2006, when it launched a new Canadian Web site and opened a Montreal office, TEKsystems realized year-over-year revenue growth of 70 per cent, the highest of all companies on this list. In 2007, it acquired the commercial services division of Computer Horizons of Mountain Lake, N.J.


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