Telemedia listing nets $A16m

New Zealand telecommunications software company Telemedia Networks International listed on the Australian stock exchange last week, raising $A16 million.

New Zealand telecommunications software company Telemedia Networks International listed on the Australian stock exchange last week, raising $A16 million. The company has also announced a "significant" contract with Japanese carrier Alpha Networks.

While "delighted" with the successful listing on October 26 because it will help in Telemedia's global expansion, CEO Chris Jones says the Alpha Networks deal is an even bigger milestone from his point of view.

"This will be among our three biggest customers and is our first in Japan. It's a very difficult market, as anyone will tell you, but this gives us a significant reference site that'll open a lot more business for us in Japan."

Telemedia will install and support an Intelligent Network Solution with prepaid and post-paid calling and a switching system to allow Alpha Networks to connect with other Japanese and international carriers.

Telemedia relocated from Auckland to Sydney this year. In September Jones said "the [Australian] environment for development and exporting is attractive", with better tax breaks for research and development.

Now that the company has successfully listed, he says, "the decision's been a positive one, though it's still early days".

The company has a turnover of just under $A6 million, but it is forecasting a jump to $A23 million for the year ending June 30, 2000.

This will be achieved by opening international offices — in Hong Kong, London, Tokyo, Bangkok, Singapore and Sydney — and employing six of the best sales people available globally, says Jones.

A short list has already been drawn up and three will be on board by Christmas.

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