Interconnective Solutions is to list in the venture capital sector of the JSE on 22 April. The company will place shares privately at 50 cents per share, the offer for which closes on 16 April. It will be known as ISolutions.
The company operates data collection, collation and management, using proprietary software and hardware, and is forecasting earnings for the year 2000 of R4.3 million after tax, R6.5 million the following year and R10 million in 2002.
The capital raised will be used to accelerate development and for product marketing. An acquisition strategy has not been ruled out.
The founding members all hail from Shield, a subsidiary of Massmart, which is in turn owned by Wooltru. Shield focused on fast moving consumer goods, and specifically providing services for that industry. "Shield, " says chairman and CEO Mark Smith, " was good experience, and the basis of our software."
ISolutions comprises four wholly-owned subsidiaries and three companies in which equity stakes are held. These operate in the electronic hardware and software services, telephony and communication services, Internet retail intelligence and intranet retail solutions industries.
The electronic hardware and software services division concentrates on the security and fast moving consumer goods industries.
In the fast moving consumer goods area, ISolutions has developed time and attendance, ordering, monitoring and data management systems, all of which are focused on the management and monitoring of products.
Other offers also include monitoring devices, telephony services and communications.
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