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.

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. DiMarco approached investors John and Dugald Mactaggart of J.L. Mactaggart Industries, a former customer, for financial backing.
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.
TechnologyOne was listed on the Australian Securities Exchange in 1999.
In 2014, TechnologyOne entered the S&P/ASX 200 Index and recorded $1 billion market capitalization.
In January 2016 Di Marco announced that he was planning to resign in the next year or two, 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.
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.
In 2019, the company announced that it had reached $300 million of annual revenues.

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. This has enabled clients to integrate 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.
TechnologyOne products are used by more than 1,200 organisations in Australia and New Zealand. The company also has customers in the United Kingdom.
By 2018, more than 30 per cent of TechnologyOne customers had transitioned to the company’s SaaS platform.

Acquisitions