TechnologyOne hits $1 billion market capitalisation
- 23 September, 2014 15:25
TechnologyOne has hit a market capitalisation of $1 billion, making it Australia's largest publicly listed software provider.
The enterprise software company started trading as part the ASX 200 on September 19.
The ASX 200 comprises of Australia's top 200 companies. TechnologyOne first listed on the ASX in 1999.
It has recorded strong performance on the ASX this year, with its share price soaring 69 per cent year-on-year to reach a high this month of $3.41.
The company also recently recorded $1 billion market capitalisation.
Executive chairman, Adrian Di Marco, said TechnologyOne’s index inclusion in the S&P/ASX 200 Index firmly positions the company as Australia’s largest publicly listed software provider.
“This growth is testament to the passion and commitment of the entire organisation, and our close collaboration with our customers," he said.
"It is a recognition of our achievements to date and vision going forward,” Mr Di Marco said.
He said it was exciting time for the company as it roll out TechnologyOne Cloud and Ci Anywhere, continuing its momentum towards a Cloud first, mobile first world.
“Our R&D program is at the leading edge of our industry, as we embrace new technologies, new concepts and new paradigms, such as the cloud and smart mobile devices," he said.
"Our strategy is to embrace new innovations and consumer concepts to deliver powerful enterprise software that is incredibly simple to use.
"The level of innovation and creativity is greater than at any time in our company’s 26-year history."
According to a company statement, TechnologyOne recorded its tenth year of record profit for the 2013 financial year ending 30 September 2013.
Annual licence fees also grew by 14 per cent.
“Amid the many reports of failed, multi-million dollar ERP implementations, TechnologyOne continues to successfully deliver its projects and achieve strong growth in our seven key vertical markets in Australia and New Zealand,” Di Marco said.