With a ground-breaking product innovation under their belt, the brains behind Memory Box are embarking on the next stage in their business plan; to raise $1.5M in capital to bring their SA-developed innovation to the world stage.
And the big software developers are watching.
Launched in February this year, Memory Box Backup Pty Ltd is a peer to peer data storage system that enables subscribers to backup and retrieve data through a simple user interface. What makes Memory Box unique and so ground-breaking, is the proprietary algorithms developed by its creators to ensure absolute data security and integrity.
Taking out the ‘Best Tools and Infrastructure’ award at the prestigious Asia Pacific ICT Alliance Awards and winning the 2009 iAwards for ‘Tools and Infrastructure’ and Best Startup Company, Memory Box is being noticed by the global IT giants.
"Memory Box is a marvellous example of Australian ingenuity and innovation, and is very deserving of the honour bestowed upon them at the iAwards.” - Gianpaolo Carraro – Director of Developer & Platform Evangelism – Microsoft Australia.
As one of the Software Engineers behind the Memory Box technology, Memory Box Managing Director, Trevor Glen, understands that success is not just about a good product, it’s about having a strong business plan and available capital to bring that idea to market.
As such, the company is now seeking to raise $1.5M in capital through a Small Scale Offering of Ordinary Shares to enable the ongoing development and expansion of the Memory Box technology nationally and internationally.
“We are serious about driving shareholder value,” says Trevor Glen, Managing Director, Memory Box. "This capital injection will enable us to realise our business plan and finalise our retail product offering for distribution through specialist IT resellers and retailers. Our ultimate aims are to drive brand awareness, increase revenue and raise the company’s value."
While the option exists for Memory Box to consider listing on the Australian Stock Exchange within the next 2 to 3 years, the Board and Management believe the company is a very attractive acquisition target..
“Many of the global software companies are now on the acquisition trail, having stockpiled cash following the Global Financial Crisis. With development of new technology not their primary objective, their market share gains are made by acquiring technology developed by smaller businesses, such as Memory Box,” says Trevor.
For investors, the potential return is significant. When 8 year old DataDomain was acquired in July 2009 for $2.1 billion following a bidding war between EMC and NetApp, it yielded its investors a 7.7 times earnings on their original investment. And with mergers and acquisitions activity up 26% globally, this trend is expected to continue.
“Once we saw the technology behind Memory Box, we were very keen to represent the company in their efforts to raise the capital necessary. These types of innovation are absolutely ground-breaking and have the potential to seriously reward astute investors”, says Stuart Douglas, Senior Partner, SME Growth Capital.
The opening date of this Small Scale Offering is the 30th August 2010 at 9am CST.
Anyone wishing to undertake further investigations or receive a share application to subscribe to the offer should contact:
Sponsor: SME Growth Capital
SME Growth Capital
Mobile: 0449 060 568
Facsimile: (08) 8345 5567
Email: [email protected]
Memory Box: online computer backup investment opportunity
Memory Box Pty Ltd was born out of Sarugo, a software engineering company specialising in software development services to local and international customers.
Trevor Glen, Managing Director
Memory Box Backup Pty Ltd
Level 2, 44 Gawler Place, Adelaide, SA, 5000.
Phone/Fax: +61 8 7127 7214
P: +61 8 7127 7124
M: + 61 410 634 678
Adam BasheerP: +61 8 8333 0734
M: +61 414 456 602