E-business solutions provider Aqua Online Holdings, which is scheduled to list on the JSE in mid-November through the Absec cash shell, says it is looking to expand further into Europe.
Aqua Online Holdings was formed as the holding company for the merged interests of Aqua Information Station, VPS, Global Admin UK, Apshai and Lungile.
Brent Shahim, Aqua Online`s South African MD, says 50% of the company`s revenue is already from its offshore operations, which, he adds, is one of its strengths.
The company, which is active in the UK, is also looking at the rest of Europe, particularly France.
Marketing manager Andrew McHenry says the London office will probably be the European headquarters, with various representatives located in European countries.
Shahim says the company - with divisions in Johannesburg, Pretoria, Cape Town and London - chose the reverse listing option primarily because of speed considerations.
Aqua has had a good response from institutions and all the institutional share placements have been taken up, he adds.
The integration of the component companies took place without hitch, mainly because their cultures were very similar, says McHenry.
Shahim says all of the divisions, which are now operating under a common brand, have shown strong organic growth, which Aqua intends to maintain. "If we do acquire, it will be strategic acquisitions, for example, if there is an element of a solution we are not providing adequately in-house."
Aqua`s business is the provision of what it calls e-service. It provides client companies with services relating to all aspects of e-commerce.
This involves enablement services such as consulting and graphic design. It also provides administration services, including establishing of a help desk call centre and customer relationship management.
Shahim says the company is set to launch a "fulfilment" product next month to enable customers to include delivery to their doorstep.
Shahim says although Aqua Online is an e-business company, it is not an IT company in the traditional sense, as it has "bread and butter" divisions such as consulting services. Clients can choose to use the whole service package, or just one component.
Aqua also enters into partnerships with client businesses going online, since many businesses, especially smaller ones, find the costs of entering the e-commerce market prohibitive, he adds.
The company is to apply to transfer the listing from the development capital market to venture capital.
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