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FIRM Prepares to Go Public
FIRM, the company behind Confirmit online survey & reporting software, has announced that it is preparing for a listing on the Oslo Stock Exchange (OSE). The Initial Public Offering (IPO) is expected to take place in 2005, depending on market conditions.
FIRM experienced strong revenue growth and generated revenue of $8.5m in the first 9 months of 2004, an increase of 35% from $ 6.3m for the same period in 2003. Full year revenue for 2003 was $9.7m, of which 17% came from Scandinavia and 83% from other markets which include the USA, Asia and other European countries. The third-quarter EBITDA result was $67,000 with revenue growth of 38% relative to the third quarter of 2003.
CEO Stein Onsrud says the board wish to take advantage of the momentum FIRM currently is experiencing. 'The market conditions for funding of FIRM's further expansion through public listing are considered attractive'. FIRM has chosen Carnegie as the lead manager for the planned IPO.
Confirmit and its associated report platform, Reportal, are used by some of the largest market research agencies in addition to Global 1000 companies, including Accenture, AC Nielsen, Crown Castle, Deloitte & Touche, Dow Jones, Egg, Freeserve, Greenfield Online, Hewlett-Packard, Microsoft, MORI, The NPD Group, Progressive Insurance and Symantec. FIRM is headquartered in Oslo and has offices in London, New York and San Francisco, with Confirmit partner resellers in Stockholm, Amsterdam, Sydney and Tokyo. It is online at www.confirmit.com
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