Multimedia messaging company Azurn seeks $7m via IPO

Stuart Corner
Saturday, 10 September 2005 16:45

IT Industry - Deals

Melbourne based Azurn International has issued a prospectus with the aim of raising $7 million through the issue of 14 million 50 cents shares representing some 23.3 percent of total equity. The offer will open on 17 August and close on 30 September. The company expects to list on the ASX on 13 October.

The core of Azurn's technology is its Multimedia Convergence Platform (MCP), a softswitch that "enables voice, data and video to converge and be seamlessly delivered in one session across an carrier network, over the Internet, broadband, telephone and wireless protocol, and onto any device".

The company's first product, an integrated audio and web conferencing system, was launched in July 2004 and is already in use with two Melbourne-based law firms, Tolhurst & Emerson and Rogers & Gaylord, on an ASP basis.

Bala Kumble, Azurn's chief technology officer told Exchange last year: "The whole concept of Unified XML is that you give us a stream of any media type in native XML format: voice, data, video, financial or wireless and we will do the convergence in a single session. The recipient of that information can then decide how he or she would like to receive the information."

The prospectus is available from Azurn's website; http://www.azurn.com.au