Supply-chain management specialist Pulse Logistics is set to prepare for a Nasdaq listing within three years, after the Adelaide-based software developer secured a multimillion-dollar investment from Singapore Computer Systems (SCS).
SCS has taken a 30 per cent equity position in Pulse, just six weeks after finalising a separate deal to distribute the Pulse warehouse management system in Asia.
Brokered through Progress Software's globalisation program for independent software vendors (ISVs), the distribution deal is expected to generate at least $2.5 million in sales during the first year.
SCS president and CEO, Stephen Yeo, said the company was investing in Pulse because it believes the product could capture a sizeable part of the global market.
"Based on the merits of Pulse and its products, our investment in Pulse would certainly enhance our tactical positioning and help fulfil our desire to substantially services the region's supply-chain management sector," Yeo said.
A key attraction for the SCS investment was the double-byte enabling of the warehouse application, making it easy to deploy the product using Asian languages. A Mandarin Chinese version of Pulse '98 is already available.
Kerry Hutchings, CEO of Pulse Logistics, said the investment from SCS would boost Pulse's R&D capabilities and bring forward plans for a stockmarket listing.
"SCS's investment will underscore our ongoing R&D plans that include major work in the area of e-commerce," Hutchings said. "In the longer term, the stated objective of the SCS investment in Pulse is to prepare us for our initial public offering within about three years. Here, Nasdaq listing is an obvious option."