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More UK and Irish firms showing significant growth

Brief: A study has found that 35 percent of the 500 fastest growing European technology companies are based in the UK or Ireland

The number of businesses from UK and Ireland that have made their way into a list of the top 500 fastest-growing technology companies in EMEA has increased by 50 percent since last year, according to a study.

The technology ranking, carried out by professional services firm Deloitte, found that 174 of the top 500 companies this year are based in the UK and Ireland, up from 112 last year.

The study found that representation of the technology business sectors is stable compared to previous years, with 42 percent from the software sector, 15 percent from communications or networking, 13 percent from life sciences or biotechnology and 12 percent from the Internet sector. Internet businesses are disproportionately well represented in the top 100 companies, accounting for 20 of them.

The rate at which the top companies are growing has increased by 68 percent since last year, and is now at an average of 1,243 percent, according to Deloitte.

The full ranking of the 500 fastest-growing technology companies will be announced on 2 December at an award ceremony in London.