Enprise Group goes public
Cloud and business expansion prompts listing on NSXBy Reseller News Staff, Auckland | Monday, 24 September 2012
Trans-Tasman MYOB and SAP solutions provider Enprise Group has gone public on the National Stock Exchange of Australia to "create a platform for growth," the company announced today.
The listing comes on the heels of the September 21 purchase of Enprise by Datasquirt (DSQ), which according to the statement will be simultaneously delisted from the ASX exchange.
Datasquirt, a New Zealand based business software company was itself purchased by an American company in 2011.
According to the announcement, Enprise Group CEO Mark Loveys says the strategy behind the NSX listing is to create a platform for growth, both organic growth in its existing business units and by anticipated acquisitions.
The company will focus on providing MYOB EXO through the cloud, extending Enprise’s network of branches across Australia and New Zealand, and adding mobility, cloud and big data computing capability to its own suite of globally marketed SAP Business One-based solutions, according to the announcement..
Loveys and Enprise Group CFO Elliot Cooper now hold around 30 percent of the share capital of Enprise Group. Other significant investors include Neiser Capital Investment fund, managed by former Boston Consulting Group partner Dr Jens Neiser, and Nightingale Partners of Sydney, managed by Christian Bernecker.
DSQ chairman Christian Bernecker will continue as chairman of Enprise Group, with Jens Neiser, Mark Loveys and Elliot Cooper continuing as directors.
Enprise Group operates through two divisions: Enprise Solutions and Enprise Software, and has a 33 percent holding in New Zealand cloud startup company 2Cloud.biz.
Enprise Solutions which specialises in MYOB EXO enterprise implementation, support and consulting, has more than 700 customers across New Zealand and Australia, with offices in Sydney, Melbourne, Auckland, Hamilton and Wellington. Enprise Software develops and supports add on applications for SAP’s Business One software, servicing a global customer base from its Auckland development and support centre.
Is this the next step towards Mark reacquairing the Exonet software?
Or a move encouraged by MYOB to further screw over the Partner channel?
Posted by Anonymous at 03:47 on September 25, 2012
Interesting to see a NSX listing for Enprise Group. Reading between the lines this looks like a play to roll up MYOB EXO resellers in Australia. No doubt Rod Drury will be watching closely as there also seems to be a cloud element. I see from a quick Google that Enprise has a 30 percent stake in a cloud startup 2Cloud.
Posted by Anonymous at 11:59 on September 24, 2012
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