Three ICT firms will join five other digital, marketing and training companies in a mega-merger to form Trimantium GrowthOps.
Enterprise cloud and software provider 3wks, Asia-focused IT consulting firm Digital Moshi, mobile app developer Jtribe will be part of the “business transformation services” platform upon getting listed to the Australian Securities Exchange (ASX).
GrowthOps is seeking to raise $70 million through an initial public offering (IPO) to complete the merger of eight companies.
The other five firms are digital marketing provider KDIS, creative agency AJF Partnership, coaching provider Institute of Executive Coaching and Leadership (IECL), content creator Khemistry and graphic design firm Voodoo Creative.
Digital Moshi rebranded to Trimantium GrowthOps in mid-2017 and has begun trading in Asian markets, including Singapore and Hong Kong. KDIS is also in the process of rebranding as well.
The combined entity will assist clients in creating new products and services that will aid their growth while keeping up with “rapidly changing” market conditions, the IPO’s prospectus read.
Its offerings will include cloud services, software development, system integration, market threat and opportunity analysis, leadership development, change management training, positioning and brand strategy, and marketing communications.
“Our clients want advice from a single, accountable provider with entrepreneurial and management consulting skills to identify opportunities, tech and ops skills to build innovative products, and creative talents to reach consumers and gain mindshare,” GrowthOps managing director Phillip Kingston said.
“We’re giving organisations a new way to achieve quantifiable revenue and market share growth.”
The combined entity will have a total of 270 staff spread across 14 offices in Australia and Asia.
The prospectus was lodged in November with an offer of 60 million to 70 million shares at $1.00 to $1.17 per share, looking to fund the merger’s completion and ability to take on larger projects.
GrowthOps forecast pro forma revenue of $61.3 million, pro forma EBITDA of $14.3 million and pro forma net profit after tax before acquired amortisation (NPATA) of $9.8 million in financial year 2017-18.
Joining Kingston in the leadership team are managing partner and executive director Paul Mansfield, who sold his company, Weblinc, to Cloud Sherpas in 2012.
Other members of the leadership team include chief financial officer Dustine Pang and head of investor relations Kait McCann.
Dominique Fisher joins Kingston and Mansfield on GrowthOps’s board as non-executive chairman, a post she also holds at Australia Post, while Melissa Field joins as non-executive director.
“GrowthOps will include one of Australia’s largest and most effective independent creative agencies. They’ve won two Grand Effie awards – one of the most prestigious awards in the advertising industry,” Pang said.
“We have Australia’s first Google Cloud Platform partner [3wks], and one of Australia’s foremost providers of change leadership services.
“They are working at every level of an organisation to embed the leadership skills required to successfully communicate, implement and lead transformative change.”
Trimantium GrowthOps is not the only ICT combination eyeing a public float: Sydney-based managed services provider CommsChoice is merging with four other IT companies to form a $28 million-revenue group and float on the ASX.