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Technology Firm Makes National List
Emerging Technologies
Monday 4th October
A NORTH EAST technology firm with has quadrupled its turnover to £5.3m inside three years has secured a top 40 slot in a prestigious national list of expanding technology companies.
Innocore Gaming has been listed at number 38 in the new Sunday Times Techtrack 100, which provides an annual review of Britain’s 100 private tech companies with the fastest-growing sales over the preceding three years.
The organisation recorded an annual rise in sales of almost 60% over each of the last three years to come in ahead of well-known firms such as DVD rental company Lovefilm.com, fundraising organisation Just Giving and sports information provider OptaSports Data in the Techtrack table.
Innocore was formed in 2007 after a management buy-out of the gaming division of Densitron Technologies, which was carried out with the help of a £400,000 investment from regional fund management firm NEL Fund Managers.
David Whitmell, chief operating officer at NEL Fund Managers, said: “Innocore has swiftly established itself as a worldwide market leader, and has turned expertise in a fast-expanding niche market into very impressive commercial returns.
“It’s always pleasing to see our investee businesses develop and expand, but Innocore’s achievements around the world marks it out as an outstanding north east success story.”
Headquartered in North Shields, Innocore is an engineering-centric company which specialises in the design and production of industrial computer boards for gaming applications.
Innocore’s products are used in casino gaming systems around the world, from Las Vegas and across the US to Russia, South Africa, Australasia, Latin America and Eastern Europe, and it is continuing to develop new products to suit the requirementsof the evolving worldwide gaming industry.
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