Bulgarian software vendor Telerik has announced it has garnered the prestigious recognition Ruban d’Honneur in round two of the European Business Awards.

The Ruban d’Honneur distinction celebrates businesses that demonstrate exceptional performance within their sector. Telerik will now compete as a finalist within the Infosys Business of the Year Award (under 60 Million EUROS) category for a European Business Award. The winners will be announced in Paris, France, on November 16, 2010.

The Ruban d’Honneur is awarded to up to ten successful entrants in each category. Judges deliberate to select which individuals and businesses are awarded the Ruban d’Honneur, and it is from the Ruban d’Honneur recipients that the final winner in each category is decided. Telerik recently announced it has been named as a finalist in the 2010 European Business Awards.

“For Telerik to be awarded a Ruban d’Honneur from the European Business Awards is testament to the determination and passion which drives this company. The commitment of our staff, and the importance of our customers and partners culminates in being recognized as leaders in the software development field. We are honored to receive this tribute,” said Svetozar Georgiev, Telerik CEO.

All Ruban d’Honneur recipients will appear before a third judging panel of highly regarded academics, heads of state, industrialists, entrepreneurs, and media commentators drawn from across the 27 member EU member states. The interviews will take place at HSBC’s offices in Canary Wharf, London.

“Telerik demonstrated real talent in its field despite what has been a difficult trading period. Together with HSBC we wish Telerik every success in this next and final round of the European Business Awards,“ said Adrian Tripp, CEO of the European Business Awards, as cited by BusinessWire.

“We are delighted to be part of the European Business Awards and our congratulations go to the Ruban d’Honneur recipients who have excelled to get this far. It is heartening to see that businesses across Europe are flourishing in spite of the recent economic downturn. I wish all the companies well in the next round of judging and look forward to the Awards final,“ stated Alan Keir, HSBC Group General Manager and Global Co-Head Commercial Banking.

Telerik is a vendor of development, automated testing, and team productivity tools, as well as UI components and content management solutions for Microsoft .NET. Telerik was founded in 2002 and currently has a team of more than 220 professionals spread around the globe in 5 offices