Technology One to float
Queensland-based accounting software developer and distributor Technology One announced its public share offering last week with plans to raise $27.85 million via an Australian Stock Exchange listing on December 8. Twenty-eight million one dollar shares will be offered, with one million being set aside for employees at a discount of 15 per cent, in all representing 27.8 per cent of the company's capital.
According to founder and managing director Adrian Di Marco: "One of the company's key success factors is the multimillion dollar investment of funds into R&D."
The share offer, underwritten by Ord Minnett, opened this week and is being brokered by Ord Minnett and Wilson HTM.
Solution 6 moves onward and upward
The value of shares in Solution 6 was reported to have gained more than 3 per cent last week on the back of a decision by shareholders to allow Telstra a majority 25 per cent stake.
The company also announced its latest acquisition, that of new Zealand Web-based stockbroking group Iguana Information Services. This follows related online stockbroking-oriented acquisitions including PKF Technology, CVSI and Dataline Systems.
Mice make money
Peripherals maker Logitech has posted a record second quarter 2000 result. Highlights include revenue of $133 million, an increase of 39 per cent over last year, operating income increase of 68 per cent on last year, record net profit of $5.2 million and 63 per cent growth in retail sales compared with last year.
Marco Manera, general manager of Logitech Australia, said the company is reaping the benefits of its investment in new product areas.
The company is expecting to see "tremendous opportunity for further growth" from its desktop devices.