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Top 25 Canadian Software Companies | March 31, 2009
The landscape of the Top 25 Canadian Software Companies changed significantly in 2008. For example, 2007 was the final year DataMirror and Workbrain could appear on the list, due to acquisitions. Further, two remarkable deals in 2008 claimed the number one and number five ranked software companies in 2007, as IBM purchased Cognos and Telus acquired Emergis. The loss of these four companies had a considerable impact on the 2008 list, as they combined for almost $1.2 billion or 36 per cent of the 2007 Top 25 Canadian Software Companies’ revenues.
Remarkably, the Top 25 Canadian Software Companies in 2008 generated combined revenues of $3 billion, only a nine per cent decrease compared to last year’s list. Total revenue for software companies appearing on this year’s Top 250 was $3.96 billion, a decrease of seven per cent compared to 2007.
Waterloo, Ont.-based Open Text followed up a solid 2007 campaign with more growth in 2008, increasing revenue by 22 per cent in order to claim this year’s top spot. Constellation Software finalized more than 15 acquisitions in 2008, contributing to 30 per cent revenue growth, allowing it to pass third-place Corel. Rounding out this year’s top five are Algorithmics and Optimal Payments, which both moved up two spots to land fourth and fifth, respectively.
Logibec Groupe Informatique attained year-over-year revenue growth of 49 per cent, causing it to climb six spots, while Gemcom Software increased revenues by almost $20 million or 51 per cent, due to both organic and inorganic growth, to slide into thirteenth spot on this year’s list. Mxi Technologies and Absolute Software, two newcomers this year, increased revenues by 52 per cent and 88 per cent respectively, to land in the number 22 and 25 positions in 2008.
Top 25 Software Companies - 2008
Back to Top300 Table of Contents - 2009
Remarkably, the Top 25 Canadian Software Companies in 2008 generated combined revenues of $3 billion, only a nine per cent decrease compared to last year’s list. Total revenue for software companies appearing on this year’s Top 250 was $3.96 billion, a decrease of seven per cent compared to 2007. Waterloo, Ont.-based Open Text followed up a solid 2007 campaign with more growth in 2008, increasing revenue by 22 per cent in order to claim this year’s top spot. Constellation Software finalized more than 15 acquisitions in 2008, contributing to 30 per cent revenue growth, allowing it to pass third-place Corel. Rounding out this year’s top five are Algorithmics and Optimal Payments, which both moved up two spots to land fourth and fifth, respectively.
Logibec Groupe Informatique attained year-over-year revenue growth of 49 per cent, causing it to climb six spots, while Gemcom Software increased revenues by almost $20 million or 51 per cent, due to both organic and inorganic growth, to slide into thirteenth spot on this year’s list. Mxi Technologies and Absolute Software, two newcomers this year, increased revenues by 52 per cent and 88 per cent respectively, to land in the number 22 and 25 positions in 2008.
Top 25 Software Companies - 2008
Back to Top300 Table of Contents - 2009
