Web CMS Player Mediasurface Goes Public

The Content Management provider Mediasurface has recently announced that it has become a publicly traded company on the AIM market of the London Stock Exchange (ticker MSR).

The transaction, handled by brokers KBC Peel Hunt, is now complete and admission to the market secured with £2m in funding being raised. The pre-money valuation of the company was £7.2m and the post money £9.2m. Shares for the participating investors were priced at 12p each.

In the year ending 30 September 2001 following the collapsing dot.com boom, the group incurred losses of £23.3 m. Subsequently a radical restructuring of the cost base of the business was undertaken, during 2002 a new management team was installed and since then has achieved a turnaround of the group and developed a new smart client software solution, Morello, for the market. Mediasurface has successfully been through a period of recovery and today has a positive balance sheet.

There is little doubt that the stock market conditions are unfavourable at the moment and many flotations are being postponed or cancelled. It is testimony to Mediasurface’s successes to date that it not only succeed in floating, but that its major investors (3i, Elderstreet, Index) have pledged their support by further investing in the company.

Lawrence Flynn, CEO of Mediasurface said of the announcement: “The flotation means that Mediasurface is now positioned to become the success I know it can be. We have already achieved great things through the turnaround of the business and the massive strides we have taken in product innovation. We now have the financial resources and credibility to ensure we fully exploit our opportunity.”

About Mediasurface
Mediasurface provide software that empowers the business user to build and manage sophisticated content driven websites.

Mediasurface software combines an interactive, graphical look and feel with industrial strength technology. Easy to use, business professionals can manage sites seamlessly, enabling authorised personnel to effortlessly update the content they ‘own’ without needing technically skilled web authors to craft HTML pages by hand.

Mediasurface helps organisations reduce the risks and costs involved in building and running websites and other digital channels. It increases their ability to keep pace with change and assures the quality of the content published – ultimately increasing the usefulness of these online resources.

A British born company headquartered in Newbury, UK, Mediasurface products and services have been implemented to drive over 300 web applications solutions for customers across Europe and the United States.

Website: www.mediasurface.com

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