Uptempo start for WANdisco
WANdisco, a California-based collaboration software developer with operations in Sheffield, has enjoyed a solid first week of its life on AIM.
WANdisco, a California-based collaboration software developer with operations in Sheffield, has enjoyed a solid first week of its life on AIM.
The stock made its debut on June 1st after raising around £15m from a placing of shares at 180p per share. Based on the placing price, the market capitalisation of the stock at the time of admission to AIM was £37m, since when the value of the company has risen above £40m.
The group intends to use the net proceeds of the placing to drive growth by expanding the group's sales force; through the opening of an office in China and targeting the Far East market opportunity; through further product development; reducing the current level of provisions and other payables; general working capital purposes and potentially via complementary technology acquisitions.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
WANdisco, which is an acronym of Wide Area Network Distributed Computing, currently has more than 200 customers globally, a number of which are in the US Fortune 100. Customers include heavy-hitters such as AT&T, Aviva, Barclays, Hewlett-Packard, Honda, Intel, Johnson & Johnson, Motorola, NCR, Nokia, NTT and Wal-Mart.
The group uses an annual subscription licence model to sell its products, providing a predictable revenue stream and a foundation for further expansion.
Revenue has increased by 30.0% from $3.0m in 2010 to $3.9m in 2011 and earnings before interest, tax, depreciation and amortisation (EBITDA) and also before share based payments and exceptional costs has increased from a loss of $0.8m in 2010 to a profit of $0.2m in 2011.
Panmure Gordon acted as nominated adviser (Nomad) and broker to the group.
JH
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
1,000 children hold over £100,000 in a junior ISA – how to grow tax-free nest egg for your child
Junior ISAs can be a tax-efficient way to grow a nest egg for your child. We explain how they work
-
How to start investing: a beginner’s guide
Getting started in investing is a great way to make your money work harder for you over the long term, as investments tend to outperform cash savings