A DURHAM computer company has been ranked among some of the fastest growing technology companies in the world.

Waterstons Computer and Business Consultancy has secured a place in the Deloitte & Touche Tohmatsu 2002 European Technology Fast 500, which focuses on the quickest growing businesses in technology, media and telecommunications.

With a three-year growth figure of 195 per cent, Waterstons is ranked the 16th fastest growing company in the North.

The company was founded eight years ago, employing 42 staff in offices on the Belmont Business Park, outside Durham City, providing small businesses with accounting systems.

Today, it provides computer services and other IT facilities to medium-sized business and even has a presence in the US.

Company founder Sally Waterston said: "As a growing business in the technology sector, we have weathered the storms of recent months very well.

"I believe our resilience and success are down to our consistent focus on the needs of our clients, combined with a dedication to customer service.

"On a day-to-day level, this means helping businesses to capitalise on their current investments and making sure that IT delivers the information business strategy requires."

Marketing manager Paul-ine Garstang said: "We're absolutely delighted to be listed. It's recognition, really, for the fact we're still growing - and it's a strong growth."

John Spurr, director at Deloitte & Touche, said Waterstons' selection was positive news for the North-East's technology industry.

He said: "Waterstons has performed exceptionally well, both in the regional Fast 50 rankings and now in the international arena. It is very good news for the region's technology industry that companies of Waterston's calibre are thriving and winning international recognition."

In total, a third of the high-tech companies in this year's Fast 500 are from the UK.

The listing includes public and private companies across Europe, central Europe, Israel, Russia and South Africa.

The only other North-East company to feature in the Fast 500 ranking is Nonlinear Dynamics, based in Newcastle.