The PRWIRE Press Releases https:// 2007-09-16T18:00:00Z Datasquirt ASX offer closes successfully 2007-09-16T18:00:00Z datasquirt-asx-offer-closes-successfully New Zealand contact centre software company, Datasquirt, says its initial public offering on the Australian Stock Exchange has closed with the minimum subscription amount exceeded. Datasquirt director and co-founder Mark Loveys said the offer closed last Friday, September 14, with a last minute flurry of investment interest. “With late subscriptions totaled over the weekend we are very pleased to have raised around A$7.2 million,” said Mr Loveys. “This is just over the minimum subscription sought of A$7 million and is viewed as sufficient to fund the international expansion plans outlined in the prospectus. “Official listing on the ASX will take place in approximately two weeks time, allowing for share issue and listing requirements to be completed.” Mr Loveys said the offer had been well supported by large Australian institutional investors as well as smaller investors in New Zealand. “We’re very pleased that a number of New Zealanders have supported the float – particularly with the recent market volatility caused by US mortgage market jitters. “We’re also very pleased that larger investors such as Macquarie Bank’s Small Companies Fund have taken such a strong position with the stated intention of supporting our growth plans described in the prospectus.” He said the funds raised would be used for international sales and marketing of Datasquirt’s award-winning CONTACT software, and further product development, as well as satisfying working capital requirements. CONTACT is designed to enable call centres to integrate text, fax and email messages into existing processes when handling both inbound and outbound communications. Datasquirt’s major customers include Fonterra, Yellow Pages, Auckland Regional Council, The Ministry of Justice, Cerebos Greggs, Coca Cola Amatil NZ, The Election Enrolment Centre, Amway Australia New Zealand and the Auckland City Council. CONTACT won a TUANZ Innovation Award in 2005. The latest projects in Australia during 2007 include a pilot implementation for account receivable management at Dun & Bradstreet; and in the United Kingdom at Silverjet, a fully automated SMS and email self-service handling flight bookings, travel confirmation, seat selection and flight cancellations and delays. “Over the last 12 months we have established offices and subsidiaries in New York, London, Dusseldorf and Sydney,” said Mark Loveys. “Our success in appointing strong local representation in these markets gives us confidence to now invest for rapid international growth, focusing on the call centre market.” Contact centres have become the portal for an estimated 80 per cent of all customer transactions with a business, Loveys says. This market is growing strongly. While New Zealand has only 21,000 call centre seats, the US has 2.7 million, the UK around 500,000, Germany 250,000 and Australia 130,000. “Datasquirt brings a very strong proposition to these markets,” Mr Loveys said. “CONTACT is purpose designed for the call centre market. Over the last six years we have built up considerable intellectual property and a strong track record of leadership in the integration of text, email and fax to traditional voice-based contact centre processes and applications. “As mobile phone usage continues to grow and more communication is done via email, it’s critical for call centre operators to be able to integrate voice traffic with non-voice traffic. In many applications - for example payment reminders - text messaging is both immediate but non-threatening. Many call centre applications – for example power outage management - are best handled by a blend of communication using voice message, text message and email messages. “A particular strength is that CONTACT is sold as a hosted service. This means call centres don't need to buy and maintain their own software. They can buy our service on a monthly, per user basis delivered as an ASP hosted service over the Internet,” said Mr Loveys. Datasquirt extends ASX offering 2007-08-23T18:00:00Z datasquirt-extends-asx-offering Despite market volatility, New Zealand contact centre software company, Datasquirt, is going ahead with its public offering on the ASX, but has reduced the minimum subscription from A$10 million to A$7 million. The maximum subscription remains the same at A$12 million. A supplementary prospectus, closing on Friday 14 September, has been issued. The initial offer closed last Thursday 16 August. Datasquirt's chairman, Dr Jens Neiser, said the offer had received strong support from Australian institutional investors and from individual investors on both sides of the Tasman. "We have had discussions with our broker, Bell Potter Securities, and also with the larger investment funds supporting the offer," Dr Neiser said. "The support - particularly from our large investors – is such that we have decided to go ahead, but have reduced the minimum subscription amount from A$10 to the A$7 million currently agreed to by existing subscribers which we view as prudent and sufficient to fund Datasquirt's international growth plans." One large investor is Macquarie Bank's Australian Small Companies Fund. Portfolio Manager Neil Carter, says Macquarie believes the IT sector on the Australian stock market will experience very strong growth over the next three years. "We think IT stocks are good value," said Mr Carter. "Many of these companies are in a strong growth position with better top and bottom line growth than industrial companies. IT is a sector in which we at the Macquarie Small Companies Fund are very happy to be 'overweight'." Datasquirt has currently reached the ASX requirement of 400 individual subscribers with around half of those coming from New Zealand. Bell Potter is not underwriting the revised offer but is the Sponsoring Broker. "Our message to investors is that while markets may rise and fall the potential for Datasquirt to grow strongly in a rapidly expanding market for Call Centre software has not changed. We are confident the float will go ahead and that we will exceed the minimum subscription amount," Dr Neiser said. The revised prospectus is now available on www.datasquirt.com and www.bellpotter.com.au. The minimum application size remains at 2,250 shares at A$0.90 cents per share with additional shares applied for in multiples of 500 shares. On completion of the offer the minimum underwritten market capitalisation will be A$25 million. All shares being offered are new shares with the existing shareholders retaining or increasing their respective holdings. Datasquirt's managing director and co-founder Aaron Ridgway says the funds raised will be adequate for product development and international sales and marketing of Datasquirt’s CONTACT software, as well as satisfying working capital requirements. CONTACT is designed to enable call centres to integrate text, fax and email messages into existing processes when handling both inbound and outbound communications. Datasquirt's major customers include Fonterra, Yellow Pages, Auckland Regional Council, The Ministry of Justice, Cerebos Greggs, Coca Cola Amatil NZ, The Election Enrolment Centre, Amway Australia New Zealand and the Auckland City Council. CONTACT won a TUANZ Innovation Award in 2005. The latest projects in Australia during 2007 include a pilot implementation for account receivable management at Dun & Bradstreet; and in the United Kingdom at Silverjet, a fully automated SMS and email self-service handling flight bookings, travel confirmation, seat selection and flight cancellations and delays. Full details of the company's product and market strategy, balance sheet and other operational and market information are disclosed in the Australian and New Zealand offer documents on the company's website www.datasquirt.com. This offering is made pursuant to the Supplementary Prospectus issued 20 August 2007 and Replacement Prospectus issued 9 July 2007. Anyone wishing to apply under this offer will need to complete the application form included in the Supplementary Prospectus. About Datasquirt Datasquirt was founded in 2001 by current shareholders and directors Aaron Ridgway and Mark Loveys. Mark Loveys was the developer of the market leading Exonet business software package, now owned by listed Australian company MYOB. Aaron Ridgway, Datasquirt’s managing director, CEO and major shareholder, has extensive experience in the mobile phone market, owning several ‘First Mobile’ Vodafone franchises in New Zealand.