| Technology One to zap SAP and go global says boss |
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| by Stan Beer | |
| Friday, 27 February 2009 | |
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With 800 employees, about 1000 delegates to its latest event and a newly burgeoning business in the UK, there does indeed appear to be more than a glimmer of hope that TechOne may take that next step from mid-sized local tech company to multinational player. In contrast to other substantial local IT companies, TechOne is very much product rather than services focussed, with a portfolio of 11 applications that span a large portion of the enterprise market. The focus on products is highlighted by the company's stated commitment to spend $27 million on R&D in the coming year and TechOne proudly differentiates itself from its rivals with its strategy of issuing free new releases every six months. Aside from its impressive growth and financial track record, TechOne has another important factor that could help the company achieve global glory - a charismatic leader with a substantial stake in the company who knows how to deliver for stakeholders. Di Marco owns about 20% of TechnologyOne and fellow foundation investor the Mactaggart family owns another 20%, leaving 60% of the company in the hands of public ownership, including institutional investors. According to Di Marco, this could theoretically make a hostile acquisition possible. However, it's not likely to happen if the company continues to achieve. With annual revenues of $107 million in its recent fiscal year ended 30 September, representing 45% growth, TechOne has projected a more modest goal of of 15-20% for the coming global financially challenged year. CONTINUED Page 2 |
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