David Shein invests in Net Return
Announcement posted by NetReturn 07 Dec 2004
Net Return today announced that a collective of Australias most astute investment and IT minds had come together to provide extra funding for the company.
Two equity sources, Saltbush Annuity Growth Management and a consortium of investors led by David Shein* have acquired a shareholding in Net Return.
Net Return is the exclusive Australasian distributor of NetSuite, the worlds leading online business application for small to medium sized companies. NetSuite was recently ranked the second fastest growing software company in the US and delivers integrated applications at an affordable price. Net Return also has a consulting and services arm providing web planning, design and delivery to large scale government and corporate clients.
Investment in a company is always a signal of faith in your model, but when the backing comes from Saltbush and the David Shein consortium then you know that you really are on the right track, said Mason Little, chief executive officer, NetReturn.
Both Saltbush and the David Shein consortium are sophisticated investors. They dont take punts. Both groups spent a considerable amount of time evaluating and examining the business and felt, as we do, that there is tremendous market opportunity for Net Return. Even with our successes, we have only just scratched the surface of the Australian market which we estimate to be in excess of $5 billion dollars, added Little.
Saltbush Annuity Growth Management (SAGM) is part of the Saltbush Group which is an alternative asset manager running hedge funding and direct equity investments. SAGM is funded by high profile private and corporate investors.
At Saltbush we evaluate a large number of opportunities, and only choose a very small percentage of them. Our reputation and that of our investors is based on making the right decisions. The Net Return management team are highly experienced and have held senior management positions in companies such as Oracle and the product suite is by far the best available for SMEs, said Andrew Boustred executive director, Saltbush Annuity Growth Management.
We are in a rapid growth phase with NetReturn, and what is most pleasing is that the growth is all based on results, said Mason Little.
Earlier this year, Net Return opened branch offices in Brisbane and Melbourne, and overall staff numbers have doubled this year.
The invested capital will allow Net Return to progress with further expansion plans.
This funding will be used to grow and expand our distribution reach. Alongside this will be a significant push of our marketing and branding activities. Right now we have the best products in the market and our challenge is to get in-front of more people. Every time NetSuite is independently analysed and compared it comes out on top of the competition. We just need to make the market more aware of what we can do for them, Little added.
For more information on Net Return please see www.netreturn.com.au and for NetSuite see www.netsuite.com.au
* David Shein is regarded by many as the man to follow in the IT sector. Shein founded Com Tech Communications as a one-man band in July 1987 as a specialist supplier of networking and communication products. In August 2000, David sold Com Tech to Dimension Data at a valuation in excess of $1billion. At that time, Com Tech employed in excess of 1400 people, had offices in all the major states of Australia, and had revenues of $750mil.
About NetReturn
NetReturn pty ltd is the exclusive distributor of the NetSuite, NetCRM and NetSuite Small Business the worlds leading online business applications for small to medium businesses in Australia and New Zealand. NetReturn also provides online services to corporations and governments to develop integrated and effective online solutions that deliver a measurable return. NetReturn's clients include: RetireInvest, AGL, AMP, AusAID, Australian National Training Authority and Commonwealth Bank of Australia.
For information about NetSuite visit: www.netsuite.com.au; for NetReturn visit: www.netreturn.com.au
About NetSuite, Inc.
Founded in 1998, NetSuite, Inc. is a leading provider of ERP and CRM application software for small and mid-sized businesses. The company's products include NetERP, NetCRM, NetSuite, and NetSuite Small Business Suite. The company is the largest application service provider of mid-market business applications with over 7,500 companies using its products. The company's products have won many industry awards, such as the PC Magazine Editors' Choice Award in 2003, PC Magazine Australia 'Recommended' 2004, eWeek - No.1 Enterprise CRM product 2004, PC Magazine USA Editor's Choice Award 2003, Forbes' Best of the Web 2003
The company's majority investor is Larry Ellison. For more information visit www.netsuite.com
Two equity sources, Saltbush Annuity Growth Management and a consortium of investors led by David Shein* have acquired a shareholding in Net Return.
Net Return is the exclusive Australasian distributor of NetSuite, the worlds leading online business application for small to medium sized companies. NetSuite was recently ranked the second fastest growing software company in the US and delivers integrated applications at an affordable price. Net Return also has a consulting and services arm providing web planning, design and delivery to large scale government and corporate clients.
Investment in a company is always a signal of faith in your model, but when the backing comes from Saltbush and the David Shein consortium then you know that you really are on the right track, said Mason Little, chief executive officer, NetReturn.
Both Saltbush and the David Shein consortium are sophisticated investors. They dont take punts. Both groups spent a considerable amount of time evaluating and examining the business and felt, as we do, that there is tremendous market opportunity for Net Return. Even with our successes, we have only just scratched the surface of the Australian market which we estimate to be in excess of $5 billion dollars, added Little.
Saltbush Annuity Growth Management (SAGM) is part of the Saltbush Group which is an alternative asset manager running hedge funding and direct equity investments. SAGM is funded by high profile private and corporate investors.
At Saltbush we evaluate a large number of opportunities, and only choose a very small percentage of them. Our reputation and that of our investors is based on making the right decisions. The Net Return management team are highly experienced and have held senior management positions in companies such as Oracle and the product suite is by far the best available for SMEs, said Andrew Boustred executive director, Saltbush Annuity Growth Management.
We are in a rapid growth phase with NetReturn, and what is most pleasing is that the growth is all based on results, said Mason Little.
Earlier this year, Net Return opened branch offices in Brisbane and Melbourne, and overall staff numbers have doubled this year.
The invested capital will allow Net Return to progress with further expansion plans.
This funding will be used to grow and expand our distribution reach. Alongside this will be a significant push of our marketing and branding activities. Right now we have the best products in the market and our challenge is to get in-front of more people. Every time NetSuite is independently analysed and compared it comes out on top of the competition. We just need to make the market more aware of what we can do for them, Little added.
For more information on Net Return please see www.netreturn.com.au and for NetSuite see www.netsuite.com.au
* David Shein is regarded by many as the man to follow in the IT sector. Shein founded Com Tech Communications as a one-man band in July 1987 as a specialist supplier of networking and communication products. In August 2000, David sold Com Tech to Dimension Data at a valuation in excess of $1billion. At that time, Com Tech employed in excess of 1400 people, had offices in all the major states of Australia, and had revenues of $750mil.
About NetReturn
NetReturn pty ltd is the exclusive distributor of the NetSuite, NetCRM and NetSuite Small Business the worlds leading online business applications for small to medium businesses in Australia and New Zealand. NetReturn also provides online services to corporations and governments to develop integrated and effective online solutions that deliver a measurable return. NetReturn's clients include: RetireInvest, AGL, AMP, AusAID, Australian National Training Authority and Commonwealth Bank of Australia.
For information about NetSuite visit: www.netsuite.com.au; for NetReturn visit: www.netreturn.com.au
About NetSuite, Inc.
Founded in 1998, NetSuite, Inc. is a leading provider of ERP and CRM application software for small and mid-sized businesses. The company's products include NetERP, NetCRM, NetSuite, and NetSuite Small Business Suite. The company is the largest application service provider of mid-market business applications with over 7,500 companies using its products. The company's products have won many industry awards, such as the PC Magazine Editors' Choice Award in 2003, PC Magazine Australia 'Recommended' 2004, eWeek - No.1 Enterprise CRM product 2004, PC Magazine USA Editor's Choice Award 2003, Forbes' Best of the Web 2003
The company's majority investor is Larry Ellison. For more information visit www.netsuite.com