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Mood Media, a business specialising in retail media solutions including digital signage, has been named the fastest growing company in Canada by Profit magazine.

The company came top of the Profit 200 list of successful firms, after recording growth of over 72,000 percent since its launch in 2005. It made US$145m (£89m) in 2010, and has recently acquired US company Muzak.

"We are very proud to be recognised for our financial performance and entrepreneurial achievement," says Lorne Abony, chief executive and chairman, Mood Media. "To be recognised as Canada's fastest-growing company by one of Canada's leading business magazines honours the commitment of our employees to create and deliver memorable consumer experiences that increase loyalty, create brand differentiation, and maximise point-of-sale revenues for our clients."

Ian Portsmouth, editor-in-chief of Profit, explains the list: "The Profit 200 companies are the innovative, high-growth enterprises Canada needs to compete on the global stage. Profit is proud to celebrate their achievements and ambitions, and we encourage all businesspeople to learn more about the many ways they've come so far, so fast."