March 27, 2020

Edinburgh, 11 November 2020: Exterity, a VITEC company, has been identified as one of London Stock Exchange Group’s ‘1000 Companies to Inspire Britain’ 2020. The report recognises the UK’s fastest growing and most dynamic small and medium sized businesses (SMEs)*, highlighting the regional and sector diversity of the UK’s SMEs and the entrepreneurial spirit shown by these companies.

To be featured in the report, businesses had to demonstrate strong revenue growth over the last three years and outperform their sector peers, creating a unique list of the UK’s most innovative SMEs. Further details on the 1000 Companies to Inspire Britain report and methodology can be found online at www.1000companies.com.

Founded in 2001, Exterity is a provider of specialist internet protocol (IP) video and digital signage technology. Its technologies are used by some of the most recognisable brands in the world including, the Bank of China, the Grand Hyatt Dubai, Lord’s Cricket Ground and the Parliament of Victoria, and enables them to inform, entertain and educate employees and guests with broadcast-quality digital TV and video over IP networks. The company’s workforce is based across the globe, with 105 staff employed at its headquarters in Fife, Scotland, and eight regional sales offices in London, New York, Paris, Dubai, Riyadh, Johannesburg, Singapore and Sydney, all providing local multilingual sales and technical support for customers.

Exporting has been critical to the growth and success of the company since our first international sale in 2006 and now accounts for 75% of turnover. Having such a global reach has mitigated exposure to economic challenges in any single region. We have experienced significant growth from large-scale projects, particularly in the government sector, in all the key regions in which we operate. While Exterity’s core business is geared towards enterprise and venue solutions, one of our fastest-growing sectors has been hospitality – notably the hotel and cruise industries, across Europe, the Middle East and APAC in particular. In 2018, we established Accommtec, a division of Exterity, in response to accelerating demand for complete hospitality technology solutions. Within 24 months, Accommtec now represents 20% of Exterity Group’s turnover.

Colin Farquhar, CEO at Exterity

Exterity continues to grow, with a 15% increase in revenue and staff from 2018 to 2019, and an increase of 80% in revenue alone since 2017. Its reported turnover for 2019 was £15.95m. The company’s growth has been recognised by several industry bodies too, winning a Queen’s Award for Enterprise: International Trade 2020, Best Performing Company With Over 50 Employees award at the Fife Business Awards 2019, and BVCA’s Growth Management Team Award Scotland 2019.

This report highlights the vital role of SMEs in driving economic growth, leading innovation and providing jobs across the UK. In this challenging year for businesses, it is more important than ever to shine a light on these stories of resilience and entrepreneurship. The success of UK SMEs is crucial as we rebuild a post COVID-19 economy, and London Stock Exchange Group is committed to helping growth companies achieve their potential.

David Schwimmer, CEO, London Stock Exchange Group

SMEs are the engine room of our economy. They have risen to the immense challenges of this year with resilience and ingenuity, and we are proud to support them with one of the most generous and comprehensive packages for businesses anywhere in the world. It is more important than ever that we champion the companies in this year’s 1000 Companies to Inspire Britain report and many others like them – they are creating jobs, spurring on our economic recovery, and building the industries of the future.

The Rt Hon John Glen MP, Economic Secretary to the Treasury

A full searchable database of all of the companies along with a downloadable pdf of the publication can be found online at www.1000companies.com

last edited on: Thursday, May 27, 2021