Local software developer Ixla is preparing to spread its wings and fly the coop, after listing on the Australian Stock Exchange and launching a Web portal to a receptive and mostly American audience.
The Melbourne-based photography software company placed 6.4 million ordinary shares on the ASX at $3 a share, reaping in $19.2 million from the Burdett Buckridge Young-facilitated float.
With 90 per cent of the offer being taken up by US institutions, including venture capital firms Federated Global Investment Management and Capital Research and Management, Ixla is well positioned for the June 23 launch of its dedicated portal site, photo highway.com in New York.
Timing the launch of the Web site to take advantage of the US Photo Marketing Association's predictions that digital cameras will outnumber SLR cameras in the year 2000, Ixla has positioned itself in a strong vertical market, according to a com-pany source, moving away from its original focus on artificial intelligence software.
The company, whose product range includes Ixla Digital Camera and Photo Scanner Suites, Digital Camera Interface SDK solution and Camera Direct Plug-in, has its eyes firmly focused on the North American market, while also maintaining partnerships that have seen it take European, Australasian and South American photographic markets by storm. Kodak, Casio, Polaroid and Fuji are all among Ixla's partners, helping the company win its piece of the market that is predicted to grow to an astonishing $US52 billion next year.
Ixla truly is an isle of reseller success in the sea of digital photography vendors and images.
Based: Melbourne, Victoria
Products: Digital imaging and Web-related softwareASX code: IXLShare price: $3.45Offices: US, Australia, Japan, EuropeFunding: Burdett Buckridge YoungCompetitors: Lucent, SycamoreFact: Ixla was on the artificial intelligence track, before it decided to turn digitalhttp://www.ixla.com