Data Storage Companies Top Forbes' Fast-Growing Tech List

Wednesday Apr 7th 2010 by Paul Shread
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Data is growing by leaps and bounds -- and so are the companies that store it.

It's no secret that data has been growing so fast that enterprises have trouble keeping up with it all, so perhaps it's not surprising that data storage networking companies ranked near the top of Forbes' list of fastest-growing tech companies.

The list of the 25 fastest-growing publicly traded technology companies, published last week, ranked Compellent (NYSE: CML) number three and 3PAR (NYSE: PAR) number four.

The rebounding economy was kind to both companies. Compellent doubled its sales last year, while 3PAR grew 80 percent.

The number two company on the list -- Riverbed Technology (NASDAQ: RVBD) -- also owes its growth to the data boom. Riverbed, which accelerates access to data across wide area networks (WANs), grew 165 percent last year.

The top company on the list -- First Solar (NASDAQ: FSLR) -- benefited from the solar energy boom, growing 182 percent.

It'll be tough for all four companies to maintain their positions on next year's list. According to Thomson Reuters, Compellent and First Solar are expected to slow to a still-enviable 30 percent growth rate this year, while 3PAR and Riverbed are expected to drop into the high teens.

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