Crimsonwing applies for MSE listing
Last Tuesday Crimsonwing formally applied for a listing on the Malta Stock Exchange. Set up in 1996 in the UK, it has been operating in Malta since 1998 and is now the largest privately owned provider of IT software and services. Commenting on the...
Last Tuesday Crimsonwing formally applied for a listing on the Malta Stock Exchange. Set up in 1996 in the UK, it has been operating in Malta since 1998 and is now the largest privately owned provider of IT software and services.
Commenting on the listing, Pierre Zammit, Crimsonwing's operations director, told The Times Business: "Crimsonwing's listing brings to fruition a journey that began in 2001, when the company launched the Crimsonwing Company Share Option Scheme.
"This gave staff the opportunity to acquire shares in the holding company and to reap the benefits of their hard work. It is anticipated that the capital injected into the company will serve to further fuel our acquisition strategy."
The listing comes at a time of rapid growth. Two recent acquisitions, the media and entertainment business vertical of Peracto Solutions Ltd and Promentum Holdings, are both Microsoft Gold Certified Dynamics partners, based in the UK and Netherlands, respectively.
These have enabled Crimsonwing to expand its client base to Germany, Austria and Switzerland. Crimsonwing works with clients in the UK and the Netherlands in three main lines of business: Bespoke, e-business and ERP (enterprise resource planning) software.
The synergies achieved by these acquisitions are conducive to further growth. According to David Walsh, Crimsonwing CEO: "Together we can deliver greater capability and reach."
Development continues to rest with the hub - the Malta solutions centre, where almost 140 staff continue to support clients like Fraser Eagle, Lloyd's Register UK, Kingfield Heath and Morrisons.
Although the acquisitions of Peracto Solutions Ltd and Promentum Holdings were financed from the company's retained profits, it is expected that the listing will introduce a broader source of finance, enabling Crimsonwing and its investors to be in a position to take advantage of opportunities that will almost certainly arise, such as other relevant, possibly larger, acquisitions aimed at bringing about financially beneficial growth.
Commenting on the listing, Pierre Zammit, Crimsonwing's operations director, told The Times Business: "Crimsonwing's listing brings to fruition a journey that began in 2001, when the company launched the Crimsonwing Company Share Option Scheme.
"This gave staff the opportunity to acquire shares in the holding company and to reap the benefits of their hard work. It is anticipated that the capital injected into the company will serve to further fuel our acquisition strategy."
The listing comes at a time of rapid growth. Two recent acquisitions, the media and entertainment business vertical of Peracto Solutions Ltd and Promentum Holdings, are both Microsoft Gold Certified Dynamics partners, based in the UK and Netherlands, respectively.
These have enabled Crimsonwing to expand its client base to Germany, Austria and Switzerland. Crimsonwing works with clients in the UK and the Netherlands in three main lines of business: Bespoke, e-business and ERP (enterprise resource planning) software.
The synergies achieved by these acquisitions are conducive to further growth. According to David Walsh, Crimsonwing CEO: "Together we can deliver greater capability and reach."
Development continues to rest with the hub - the Malta solutions centre, where almost 140 staff continue to support clients like Fraser Eagle, Lloyd's Register UK, Kingfield Heath and Morrisons.
Although the acquisitions of Peracto Solutions Ltd and Promentum Holdings were financed from the company's retained profits, it is expected that the listing will introduce a broader source of finance, enabling Crimsonwing and its investors to be in a position to take advantage of opportunities that will almost certainly arise, such as other relevant, possibly larger, acquisitions aimed at bringing about financially beneficial growth.