ELK Studios Named Among Fastest Growing Companies in Sweden
Swedish software development company, ELK Studios, has been recognised as one of the fastest growing technology businesses in the country in this year’s Sweden Technology Fast 50 listing.
ELK Studios was named fourth on the list of 50 Swedish businesses that were recognised by global consultancy firm, Deloitte, for its exceptional revenue growth over a four-year period.
The awards were presented at a ceremony on 14 November. All of the companies in the top five for this year were in the Media & Entertainment category, with two gaming companies and two in adtech.
This is a clear sign that what we started five years ago has through hard work and dedication shown result. We’re so proud of where we are today. This is a team effort worth celebrating. –Filip Säfbeck, ELK Studios CEO
Erik Olin, partner at Deloitte and responsible for Sweden Technology Fast 50, said, “Sweden has long been known for world-class gaming development. The explosive development of online gambling in terms of both traditional betting and casino experience is evident in the ranking of the year. We also have a number of companies that show impressive growth by applying innovative technology in digital marketing.”
First place in the list went to Nordic online casino firm Global Gaming, the umbrella company behind Ninja Casino. According to Deloitte, the business experienced “almost 100,000%” growth in four years. Part of the company’s growth is attributed to the pay-per-view solution it developed.
Deloitte’s Sweden Fast 50 listing is a collection of companies that the consultancy has collated, each of which must meet a set criteria. First of all, the company must be based in Sweden and have been operating for four years. They cannot be subsidiaries or divisions. The company must develop its own technology that contributes the majority of its income, in ELK’s case the development of slot games. All companies in the Fast 50 must have significant investment in research and development, and have net sales over €50,000 (~£44,600).