TechnologyOne

Technology One Ltd
Public
Traded as ASX: TNE
Industry Software development
Founded 1987
Founder Adrian Di Marco
Headquarters Brisbane, Australia
Number of locations
 14[1]
Area served
 Australia, Malaysia, New Zealand, United Kingdom, South Pacific
Products Commercial support software
Services Business support
Project management
Consulting
Revenue A$273.2 million (2017) https://www.technologyonecorp.com/about-us/shareholders/annual-reports

A$58 million (2017)

https://www.technologyonecorp.com/about-us/shareholders/annual-reports
Number of employees
 Increase 1000[2]
Website Official website Edit this at Wikidata

TechnologyOne Limited is an Australian enterprise software company.[3] TechnologyOne was founded in 1987 in Brisbane, Australia.

It is listed on the Australian Securities Exchange with the symbol TNE and is a constituent of the ASX 200 index.

History

TechnologyOne was founded by Adrian Di Marco in 1987, when saw an opportunity to build a new generation of accounting software for businesses and government departments, using relational database technology.[4] At the time, banks wouldn’t support his startup, determined to take on global software giants. Seeking capital to support this venture, he approached investors John and Dugald Mactaggart of J.L. Mactaggart Industries, a former customer, for financial backing.[5]

TechnologyOne set up its first R&D centre in a demountable office in the car park at Mactaggart’s hide processing plant in Hemmant, Brisbane.[6]

TechnologyOne was listed on the Australian Securities Exchange in 1999.[7]

In 2000, TechnologyOne opened offices in New Zealand and Malaysia, and in 2006 TechnologyOne extended its global expansion to the United Kingdom. [8]

In 2010 the company moved into a new global headquarters in Fortitude Valley, a suburb of Brisbane, Australia.[9] In the same year, the company announced its cloud strategy [10] and in 2012, it flagged plans to invest $200 million over five years in delivering its Software as a Service.[11]

In 2014, TechnologyOne entered the S&P/ASX 200 Index and recorded $1 billion market capitalization.[12]

In 2016, TechnologyOne established the TechnologyOne Foundation for its philanthropic endeavours, and signed up to the Pledge 1% movement.[13] In 2017, the TechnologyOne Foundation announced an annual grant to Opportunity International Australia, which looks to microfinance 500,000 children out of poverty over the next 15 years.[14]

In January 2016 Di Marco announced that he was planning to resign in the next year or two,[15] and in April 2017 he announced that on May 23, when the company released its half year results, he would step down as CEO and that the COO, Edward Chung, would take over. Di Marco remained as executive chairman.[6][16]

At the company’s full year results on 21 November 2017, the company’s cloud business turned a profit for the first time, posting a $2.5 million profit for the year to September, and signing 112 new cloud customers.[17]

TechnologyOne currently has approximately 1,200 customers[18] and invested $49.9 million in Research & Investment in the financial year ending September 2017.[19]

Acquisitions

Acquisition date Company Business Valuation
millions AUD		 References
October 2, 2015 Jeff Roorda & Associates Strategic asset management software, training and implementation programmes for engineers, accountants and senior management. $10 [20]
May 8, 2015 Digital Mapping Solutions Commercial-off-the-shelf web based GIS spatial data viewing, querying and analysis managed via a fully configurable web based architecture. $12 [21]
January 30, 2015 ICON Software ePlanning application and assessment solution for local Government that manages planning scheme information, online applications, assessments and tracking. $10 [22]
August 1, 2008 Outcome Manager Web-enabled strategic planning and corporate performance management (CPM) solution comprising business intelligence, reporting, and strategy and planning tools. $1 [23]
October 1, 2007 Avand Pty Ltd Avand Enterprise Content Management (ECM). $10 [24]
December 6, 2000 ProClaim Software Pty Ltd Revenue and billing and regulatory management software for councils to manage property, land, people and addresses from a centralised system. $10.6 [25]

References

  1. ↑ TechnologyOne Office Locations
  2. ↑ Annual Report (PDF) (Report). TechnologyOne.
  3. ↑ "TechOne goes slow on hiring", 2000, The Australian IT News, Jennifer Foreshew, 16 June (Retrieved 7 October 2009)
  4. ↑ "TechnologyOne acquires Avand for $10 million", 2007, ITWire, Mitchell Bingemann, 12 October (accessed 7 October 2009)
  5. ↑ "Exclusive: How this man built a $250M IT company", 2011, Business News Australia, 28 January (Retrieved 13 December 2016)
  6. 1 2 Redrup, Yolanda (7 April 2017). "TechnologyOne CEO Adrian Di Marco steps down after 30 years". Financial Review.
  7. ↑ "TechnologyOne Limited details" Archived 2016-03-04 at the Wayback Machine. (Retrieved 20 November 2016)
  8. ↑ "TechnologyOne plots US expansion to take down Oracle and SAP in the cloud" (Retrieved 14 March 2018)
  9. ↑ Sharma, Krishan (2010-07-26). "TechnologyOne launches $12m Brisbane headquarters". CRN.
  10. ↑ "Early AWS adoption enabled TechnologyOne's business change" (Retrieved 14 March 2018)
  11. ↑ "Evolve 2012: TechnologyOne invests $200m in new Cloud platform" (Retrieved 15 March 2018)
  12. ↑ "The ASX’s largest software company Technology One Limited nears 52-week high: Should you buy?" (Retrieved 15 March 2018)
  13. ↑ "We’ve Pledged 1%" (Retrieved 15 March 2018)
  14. ↑ "INDUSTRY INSIDER: APRIL FUNDRAISING NEWS" (Retrieved 15 March 2018)
  15. ↑ Redrup, Yolanda (18 January 2016). "TechnologyOne CEO Adrian Di Marco prepares to pass the baton". The Sydney Morning Herald.
  16. ↑ McLean, Asha (April 7, 2017). "TechnologyOne CEO and founder hands reins to current COO | ZDNet". ZDNet.
  17. ↑ "TechnologyOne cloud captures $2.5M profit" (Retrieved 15 March 2018)
  18. ↑ "Early AWS adoption enabled TechnologyOne's business change" (Retrieved 15 March 2018)
  19. ↑ "TechnologyOne eyes a future with AI as enterprise cloud gains further steam" (Retrieved 15 March 2018)
  20. ↑ Redrup, Yolanda. "TechnologyOne acquires Jeff Roorda and Associates for $10 million". Financial Review. Retrieved 2015-10-02.
  21. ↑ Redrup, Yolanda. "TechnologyOne acquires Digital Mapping Solutions for $12m". Financial Review. Retrieved 2015-05-08.
  22. ↑ Dinham, Peter. "TechnologyOne buying ICON Software in $10 million deal". iTWire. Retrieved 2015-01-30.
  23. ↑ Sainsbury, Matthew. "Technology One acquires Brisbane ISV". ARN. Retrieved 2008-08-12.
  24. ↑ Bingemann, Mitchell. "TechnologyOne acquires Avand for $10 million". iTnews. Retrieved 2007-10-12.
  25. ↑ Swan, Georgina. "Technology One ProClaims acquisition ambitions". Computerworld. Retrieved 2016-06-14.
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