Synergy eyes back door to public listing

Synergy eyes back door to public listing

Systems integrator, Synergy Plus, will list as a public company in October as part of plans to grow its capital base.

CEO, Perry Blackney, said the move was part of an overall growth strategy that could eventually lead to an Initial Public Offering (IPO). However, the initial plan was to purchase an ASX-listed company's name for a 'back door' listing.

"Normally, an IPO is issued to raise a lot of capital," he said. "This [back door listing] will give us the opportunity to tap into the market if we ever want capital. We may look at acquisitions but have no targets in mind at the moment."

Blackney, who joined the company in February, was formerly Intel's regional channel manager.

He said his main focus had been to grow the services component of the Synergy business.

"We want more of a solution and services balance - we currently earn about 65 per cent of revenues from our hardware," he said.

Opportunities in retail, telecoms, manufacturing and government would help Synergy achieve annual revenue growth targets of 35 per cent, Blackney said.

The company is currently recruiting project management, development and system architect staff.

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