PORTLAND, Ore., October 20, 2005 — Vesta Corporation today announced that it has been named to the Inc. 500 Hall of Fame, an acknowledgement of the company's notable growth trajectory. The Inc. 500 ranking honors the nation's fastest-growing private companies. Vesta has been an Inc. 500 company each year from 2001 to 2004, and this year joins the Hall of Fame.
Vesta provides phone, Web and other virtual payment solutions for a variety of products, including prepaid wireless phones and prepaid long distance cards. Vesta's President and CEO, Doug Fieldhouse, attributes the company's continued growth on its innovative payment solutions, including those for the rapidly growing US prepaid wireless market. "Vesta is committed to improving our clients' revenue contribution, and that has helped us grow our wireless customer base," he said. "We have also maintained our leadership position in the other markets we serve due to our focus on a superior customer experience."
Inc. generally grants Hall of Fame status to companies that have been named to the Inc. 500 list five times. Historically, the Inc. 500 ranked companies based on sales growth over four years; however this year, growth started being measured on a three-year period.
"When you look at the amazing job growth among Inc. 500 companies and contrast it with the stagnation in the Fortune 500, it underscores the changing nature of our economy," said Jim Melloan, project manager for the Inc. 500. "With unprecedented global competition, companies have to be able to turn on a dime and discover innovative new ways of doing business. Increasingly, it's the smaller, agile companies like those on the Inc. 500 that are best equipped to meet these challenges."
Headquartered in Portland, Oregon, USA, and with operations in China and the UK, Vesta is a pioneer and worldwide leader in virtual commerce. Vesta utilizes proprietary authentication and fraud screening measures in managing its telecommunications and financial services clients' virtual (phone and Web) payment programs, and provides a secure, privacy-assured recharge solution to their end users. In addition to being named to the Inc. 500 Hall of Fame, Vesta was recently recognized for the fourth time on the Deloitte Technology Fast 500 list. Vesta's clients include AT&T, Cingular Wireless, T-Mobile USA, MCI, IDT, Sprint and Firefly Mobile. For more information on Vesta Corporation, email info@trustvesta.com.
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