GOVERNOR PATRICK CELEBRATES 10 YEARS OF GLOBAL INNOVATION LEADER INEOQUEST CREATING JOBS IN MASSACHUSETTS
Mansfield-based company marks 10-year anniversary; points to Commonwealth's strong innovation economy and talent pipeline as reasons for success
Wednesday, June 15, 2011 -- Governor Patrick prepares to cut the cake with Marc Todd, CEO, IneoQuest to celebrate the company's 10th anniversary.(Photo credit: Matt Bennett/Governor's Office)
MANSFIELD - Wednesday, June 15, 2011 - Governor Deval Patrick today joined employees and executives at IneoQuest's manufacturing facility in Mansfield as the company celebrated 10 years of doing business in Massachusetts. Cited by Inc. Magazine as one of the fastest growing video network intelligence companies in North America for four consecutive years, IneoQuest employs 73 Massachusetts residents - more than half of its total U.S. workforce - at manufacturing, production and engineering sites in Mansfield and Westford.
"Innovation is our calling card in Massachusetts and trailblazing companies like IneoQuest are strengthening the state's global competitiveness," said Governor Deval Patrick. "My thanks go out to IneoQuest for growing jobs and opportunities here and for recognizing that Massachusetts is second to none when it comes to innovation, an educated workforce and overall quality of life."
"We are pleased to celebrate 10 years of unprecedented growth and success with Governor Patrick today," said IneoQuest CEO Marc Todd. "As the global leader in video quality and service assurance, IneoQuest looks forward to expanding into new and emerging markets to create more jobs in Massachusetts and contributing to the success of Governor Patrick's technology and innovation agenda."
Founded in 2001, IneoQuest offers technologies and solutions that enable companies to monitor, gather, aggregate and analyze video data across their video networks. The company pioneers methods and metrics to ensure delivery of all video services including 3D TV, Adaptive Streaming, Video on Demand (VOD) and Video Conferencing to any fixed or mobile screen. Headquartered in Mansfield, Massachusetts, IneoQuest has sales operations in the US, Asia and European regions. The company has 600 customers, including nine of the top ten US service providers, and has experienced a 421% sales increase over the past five years.
At the Mansfield facility, IneoQuest manufactures and tests thousands of hardware probes used to monitor video quality across huge video delivery networks. IneoQuest also handles all international shipping from Mansfield, where probes bound for Massachusetts, California, Korea and Germany are shipped.
"We consistently see industry leaders choose Massachusetts to grow their companies because of our investments in innovation, education and infrastructure," said Secretary of Housing & Economic Development Greg Bialecki. "IneoQuest is no exception. We congratulate them on a remarkable ten years and look forward to many more in Massachusetts."
"I extend my congratulations to Ineoquest for their 10 years of successful operation in Massachusetts and especially in creating job opportunities for our residents of the Commonwealth," said Representative Elizabeth Poirier.
The Patrick-Murray Administration has leveraged the state's concentration of brainpower, research and education institutions, venture capital and entrepreneurial traditions to grow the Commonwealth's innovation economy. Investments in key sectors, including IT and manufacturing, have secured the state's global standing as an innovation leader and accelerated our economic recovery. Thanks to the Administration's job-growth strategy, the Commonwealth is creating jobs faster than 46 other states, outperforming the nation's economic growth and ranked fifth on CNBC's list of the best places in America to do business.