ICT companies made up the largest group of a list of the fastest growing, privately owned companies in the UK.
This reflects the importance of IT spending to keep companies profitable during tough economic conditions.
The 2012 Investec Hot 100 list of fastest growing private companies, from investment bank Investec Specialist Bank, features16 ICT companies.
The 16 included IT services firms, networking service providers, disaster recovery companies and cloud services providers. These companies averaged a growth revenue of £85m in 2011, averaging 38% growth.
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Investec said organisations continued to invest in IT despite the financial turmoil.
“Some sectors stand out as strong and downturn-resistant: IT, outsourced services, which are taking up functions formerly held within government and large corporates,” said Investec.
Outsourcing IT reduces costs while maintaining service levels during a downturn. IT service providers that appeared in the Top 100 included ANS and Onyx.
ANS, which provides IT services, last year grew 42% on the back of deals with University Hospitals South Manchester NHS Foundation Trust, where it installed a new networking infrastructure. It also replaced the Cisco core data centre at NHS trust Kingston PCT.
Meanwhile data management and recovery supplier Onyx, recently named as a supplier in the government’s G-cloud, grew 38%. Onyx won a contract to support a disaster recovery implementation at Walkers Shortbread. It also opened two datacentres.