Varicent Ranked Number 64th Fastest Growing Company in North America on Deloitte’s 2011 Technology Fast 500™

TORONTO - Sunday, October 23rd 2011 [ME NewsWire]

(BUSINESS WIRE)-- Varicent Software Incorporated, a pioneer and global leader in incentive compensation management and sales performance management (SPM) solutions, today announced that it ranked number 64th on Technology Fast 500™, Deloitte’s ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on percentage of fiscal year revenue growth during the period from 2006–2010. Varicent grew 1,915 percent during this period.

Varicent’s chief executive officer, Dan Shimmerman, credits the rapid growth of the Sales Performance Management market, dedication to customer success and dedicated employees as the key drivers of Varicent’s revenue growth. He said, "We are thrilled to earn this recognition. Our employees are the key factor to the development of our industry leading solutions and thus our continued success. This award is a testament to our commitment to provide the most comprehensive sales compensation and performance management software."

“Varicent and all the Technology Fast 500™ winners in 2011 have shown a remarkable drive for creativity and innovation, and of course growth, particularly when you look at their accomplishments in the context of current economic challenges” said Richard Lee, National Leader, Technology Media & Telecommunications Industry Group, Deloitte Canada. "Deloitte congratulates Varicent for this significant achievement.”

“We are pleased to honor Varicent as one of the 2011 Technology Fast 500,” said Mark Jensen, managing partner, technology and venture capital services, Deloitte & Touche LLP. “As one of the fastest growing tech companies in North America, Varicent has demonstrated technological innovation, entrepreneurship and rapid growth.”

For additional detail on the Technology Fast 500™ including selection and qualifying criteria, visit www.fast500.com.

About Varicent Software Incorporated

Varicent Software Incorporated, a global pioneer in Incentive Compensation and Sales Performance Management, delivers innovative, industry-leading solutions for finance, sales, human resources and IT departments in high-performing companies across industries. Varicent solutions streamline administrative processes, maximize efficiencies and drive improved sales performance. In addition to ranking in the top 5 two years running, in the PROFIT 200 list of Canada’s Fastest Growing Companies by PROFIT Magazine, Varicent was named the highest overall “hot” vendor in the Ventana Research 2011 SPM Value Index, and was ranked the fastest growing software company on Deloitte’s 2010 Technology Fast 500. For more information, visit http://www.varicent.com.

©2011 Varicent Software. All rights reserved. Varicent and Varicent SPM are trademarks of Varicent Software Incorporated.

All other trademarks and company names mentioned are the property of their respective owners.

As used in this document, “Deloitte” means Deloitte LLP. Please see www.deloitte.com/us/aboutfor a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

Contacts

Varicent Software

Brian Hartlen

T: 1-416-987-1241

E: bhartlen@varicent.com

www.varicent.com