Nitro Software blasts onto the ASX

Nitro Software blasts onto the ASX

Document management software developer Nitro has landed on the ASX today following a $110 million IPO.

The company, which owns PDF productivity and eSignature tool Nitro Productivity Suite, will list under the ticker NTO.

At the IPO listing price Nitro Software (ASX: NTO) has a market capitalisation of $324.9 million and an enterprise value of $263.1 million.

Founded in Melbourne in 2005 the company initially sought to offer an alternative solution to Adobe Acrobat called Nitro Pro.

Since then the company has expanded to specialise in document productivity, digital transformation and change management.

The company has sold approximately 1.8 million licences in its lifetime and has more than 10,400 business customers in 114 countries globally. Some high-profile customers include ExxonMobil, T-Mobile, Caterpillar, and Chubb.

The group is now headquartered in San Francisco, and has offices in Dublin, London, and Melbourne.

The company's founders Sam Chandler (pictured) and Richard Wenzel are still in charge of the company, employed as Nitro's CEO and senior vice president of tax and treasury respectively.

CEO Chandler says launching on the ASX today is a major milestone for the group.

"Having founded the Nitro business in Melbourne a decade and a half ago, I am thrilled that we are listing Nitro in the Australian market today," says Chandler.

"I am proud of the business we have built, based on a foundation of making document productivity easy, powerful, affordable and available to all. Our ambition has always been strong, and our potential is enormous as we support customers around the world, both large and small, in their digital transformation journey."

"Along with our team, I am excited about the opportunities we have ahead of us and look forward to delivering great outcomes for our customers and shareholders."

Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.

Business News Australia

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Operating the board collaboratively, efficiently and securely
Partner Content
'Digitisation' and 'digitalisation' are two words that are frequently t...
OnBoard
Advertisement

Related Stories

Jumbo to expand UK presence with $32m acquisition of StarVale

Jumbo to expand UK presence with $32m acquisition of StarVale

Digital lottery service provider Jumbo Interactive (ASX: JIN) has e...

Centuria Capital secures West Village retail for $202m

Centuria Capital secures West Village retail for $202m

Centuria Capital Group (ASX: CNI) has snared an emerging inner-city...

Big hitters bolster EstimateOne’s prospects after investing $35m

Big hitters bolster EstimateOne’s prospects after investing $35m

Melbourne-based digital procurement platform EstimateOne has attrac...

Supply chain woes sees Kogan profit dive 58 per cent

Supply chain woes sees Kogan profit dive 58 per cent

Despite delivering record sales revenue for the first half of FY22,...