ERP success story to go public
ERP success story to go public
SSA Global is looking to complete its impressive turnaround from the brink of extinction a little over four years ago, with an initial public offering anticipated to raise US$200 million (AUD$286.7 million) for the ERP software maker.
Since it was rescued by a team of investors after filing for voluntary Chapter 11 bankruptcy in April 2000, the company has gone from strength to strength, acquiring a number of other companies along the way, including interBiz, which is the former e-business division of Computer Associates, Baan and Elevon.
In the company's filing with the U.S. Securities and Exchange Commission, it earned US$51.9 million on revenue of US$297.4 million for the year ending July 31, 2003.
The move by SSA Global is a further indication that the business software market is on the up, coming as it does on the back of similar moves by Salesforce.com and RightNow Technologies.
A feature on the history and turnaround in fortunes of SSA Global can be found in the May/June 2004 issue of IDM magazine. Content from back issues of IDM magazine is available for free to our magazine subscribers on idm.net.au. To subscribe to IDM magazine, click here.
Related Article: