TechnologyOne

TechnologyOne Limited is an Australian enterprise software company. TechnologyOne was founded in 1987 in Brisbane, Australia. It is listed on the Australian Securities Exchange with the symbol TNE and is a constituent of the ASX 200 index.

Technology One Ltd
TypePublic
ASX: TNE
IndustrySoftware development
Founded1987
FounderAdrian Di Marco
Headquarters
Brisbane
,
Australia
Number of locations
14[1]
Area served
Australia, Malaysia, New Zealand, United Kingdom, South Pacific
Key people
Edward Chung (CEO)
ProductsCommercial support software
ServicesBusiness support
Project management
Consulting[2]
RevenueA$299 million (2018)[3]
A$49 million (2018)[3]
Number of employees
1200[4]
Websitetechnologyonecorp.com

History

TechnologyOne was founded by Adrian Di Marco in 1987, when saw an opportunity to build a new generation of accounting software for businesses and government departments, using relational database technology.[5] DiMarco approached investors John and Dugald Mactaggart of J.L. Mactaggart Industries, a former customer, for financial backing.[6]

TechnologyOne set up its first R&D centre in a demountable office in the car park at Mactaggart’s hide processing plant in Hemmant, Brisbane.[7]

TechnologyOne was listed on the Australian Securities Exchange in 1999.[8]

In 2014, TechnologyOne entered the S&P/ASX 200 Index and recorded $1 billion market capitalization.[9]

In January 2016 Di Marco announced that he was planning to resign in the next year or two,[10] and in April 2017 he announced that on 23 May, when the company released its half year results, he would step down as CEO and that the COO, Edward Chung, would take over. Di Marco remained as executive chairman.[7][11]

At the company’s full year results on 21 November 2017, the company’s cloud business turned a profit for the first time, posting a $2.5 million profit for the year to September, and signing 112 new cloud customers.[12]

In 2019, the company announced that it had reached $300 million of annual revenues.[13]

Software as a service

Since 2012, the company has transitioned the business from being an on-premises software provider to a software as a service business.[14] This has enabled clients to integrate[15] with third party providers such as MuleSoft and Salesforce.

The first iteration of TechnologyOne’s cloud software was launched in 2014, which enabled users to access the platform via the cloud.[13]

TechnologyOne products are used by more than 1,200 organisations in Australia and New Zealand. The company also has customers in the United Kingdom.[16]

By 2018, more than 30 per cent of TechnologyOne customers had transitioned to the company’s SaaS platform.[17]

Acquisitions
 TechnologyOne 
 
 
 
 
 
 
Company founded in 1987
 
 
 
 
 
 

ProClaim Software Pty Ltd[18]
A$10.6 million
6 December 2000

 
 
 
 
 

Avand Pty Ltd[5]
A$10 million
1 October 2007

 
 
 
 
 

Outcome Manager[19]
A$1 million
1 August 2008

 
 
 
 
 

ICON Software[20]
A$10 million
30 January 2015

 
 
 
 
 

Digital Mapping Solutions[21]
A$12 million
8 May 2015

 
 
 
 
 

Jeff Roorda & Associates[22]
A$10 million
2 October 2015

 
 
 

References
  1. "Office Locations". TechnologyOne.
  2. "Services". TechnologyOne.
  3. "Annual Reports Shareholders". www.technologyonecorp.com. 11 January 2019.
  4. Annual Report (PDF) (Report). TechnologyOne.
  5. Bingemann, Mitchell (12 October 2007). "TechnologyOne acquires Avand for $10 million". iTnews. ITWire.
  6. "How this man built a $250 million IT company". Business News Australia. 28 January 2011.
  7. Redrup, Yolanda (7 April 2017). "TechnologyOne CEO Adrian Di Marco steps down after 30 years". Financial Review.
  8. "TechnologyOne Limited details". Archived from the original on 4 March 2016.
  9. "The ASX's largest software company Technology One Limited nears 52-week high". Fool.com.
  10. Redrup, Yolanda (18 January 2016). "TechnologyOne CEO Adrian Di Marco prepares to pass the baton". The Sydney Morning Herald.
  11. McLean, Asha (7 April 2017). "TechnologyOne CEO and founder hands reins to current COO | ZDNet". ZDNet.
  12. "TechnologyOne cloud captures $2.5M profit". Arnnet.com.
  13. Foye, Brendon (20 November 2018). "TechnologyOne scrapes $300 million milestone thanks to SaaS platform". CRN. Australia. Retrieved 8 July 2019.
  14. Herrick, Chloe (22 February 2012). "Evolve 2012: TechnologyOne invests $200m in new Cloud platform". CIO from IDG. Retrieved 8 July 2019.
  15. "TechnologyOne rips out Vic council legacy enterprise system". ARN. Retrieved 6 June 2020.
  16. Williams, Shannon (20 June 2019). "TechnologyOne launches STEAM Lab pilot launch in Queensland". IT Brief. Australia. Retrieved 8 July 2019.
  17. Thomson, James (25 November 2018). "Cloud shift helps Technology One float above tech damage". Australian Financial Review. Retrieved 8 July 2019.
  18. Swan, Georgina. "Technology One ProClaims acquisition ambitions". Computerworld. Retrieved 14 June 2016.
  19. Sainsbury, Matthew. "Technology One acquires Brisbane ISV". ARN. Retrieved 12 August 2008.
  20. Dinham, Peter. "TechnologyOne buying ICON Software in $10 million deal". iTWire. Retrieved 30 January 2015.
  21. Redrup, Yolanda. "TechnologyOne acquires Digital Mapping Solutions for $12m". Financial Review. Retrieved 8 May 2015.
  22. Redrup, Yolanda. "TechnologyOne acquires Jeff Roorda and Associates for $10 million". Financial Review. Retrieved 2 October 2015.
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