Technology acquisition company Blackpearl Group (BPG) has announced its intention to list on the NZX.
Blackpearl Group is a technology company that builds, acquires, and markets data-driven cloud services, consisting of a suite of productivity and demand generation applications for small and medium-sized businesses.
The company says that its proprietary private platform, the Pearl Engine, is the cornerstone of organic growth for both built and acquired technologies.
Through leveraging elements or entire components from the Pearl Engine, companies within the Group can access new markets, increase their value proposition, and improve their cost-to-revenue ratio faster and at near zero marginal cost.
Founder and CEO Nick Lissette says the intended listing on the NZX will help nurture future growth and expansion pathways. He also adds that there is no capital raise associated with the listing.
“A direct listing on the NZX offers us the fastest and lowest cost means of moving to a public platform to support future growth,” he says.
“Our goal for the intended listing is to accelerate acquisitions by being able to offer stock in a listed entity as part of our offer to companies we wish to acquire. Becoming a listed company also offers future capital raising opportunities on the public market.”
Chairman of Blackpearl Group, Tim Crown, who is also Co-Founder of Nasdaq-listed Fortune 500 company, Insight Enterprises, adds that the company’s Kiwi origins, coupled with the NZX’s low cost and low friction listing platform, made going public on the NZX the next logical step for the company.
“Blackpearl Group is both a technology company and an investment company with enormous opportunity,” says Crown.
“Having invested in creating a unique technology platform that can add value to a range of applications, we have an opportunity to innovate into new digital markets.”
Blackpearl Group says it will be among the fastest-growing Software as a Service (SaaS) companies on the NZX when it lists. Lissette believes this is primarily due to the success of the Pear Engine, which delivers organic growth for both owned and acquired products.
“Our strategy is about much more than simply acquiring technology businesses for their revenue, it’s about gaining access to new talent and markets, and most importantly, accelerating organic growth,” he says.
“Our private platform enables us to help the businesses we acquire accelerate their growth and development.”
The company has also just completed the acquisition of NewOldStamp, and Lissette says this signalled that it would be the right time for Blackpearl Group to list and further accelerate its acquisition strategy.
Founded in 2012, Blackpearl Group is driven from Wellington, New Zealand, and Phoenix, Arizona, USA.