Saxotech prepares for IPO on Nasdaq  

2005.10.18
Saxotech, a Danish software development and systems implementation company exclusively serving the publishing industry, has announced plans to become listed on Nasdaq in the next 12-18 months

Saxotech, a Danish software development and systems implementation company exclusively serving the publishing industry, has announced plans to become listed on Nasdaq, the US technology bourse, in the next 12-18 months. The last time a Danish company had an IPO on Nasdaq was EuroTrust in 1997.

Claus Andersen at Nordic Venture Partners, which has a 29% stake in Saxotech, comments: "We firmly believe we can convince the stock exchange market that we can become the leading player in the industry. We have made initial inquiries with independent IPO consultants who have said that we are ready for the stock exchange". Saxotech is seeing greatest growth potential on the US market, where a number of prominent newspapers already are using the company's products.

Currently 70% of Saxotech's revenues are generated from sales of software for improving newspaper production. The remaining 30% comes from sales of a web publishing tool that can help media organisations resist the pressure from search engines such as Google and Yahoo, which increasing numbers of newspaper readers use for obtaining information. "This product is the real interesting story in relation to an IPO listing, since it can help the existing newspaper industry taking up that battle", says Claus Andersen. The news was reported by financial daily newspaper Børsen.

Link > Saxotech 

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