Cerillion has announced the admission and trading of its Ordinary Shares has commenced on AIM, with the ticker CER. The Company’s market capitalisation, based on a Placing Price of 76p per share at Admission, is approximately £22.4 million.
Established in 1999 following a management buyout from Logica plc, Cerillion provides a pre-integrated suite of Business Support Systems (BSS) and Operations Support Systems (OSS) solutions, predominantly to the telecommunications market but also to other industry sectors, including financial services and utilities. The business has a global customer base, with more than 75 customer installations across 40 countries and customers include Cable & Wireless, KDDI and MTN.
Cerillion has grown steadily over the past 16 years, achieving revenues of £14.0m and EBITDA of £2.9m in 2015. By listing on AIM, the Company plans to enhance its market profile, expand geographically, grow its SaaS offering, and capitalise on inorganic growth opportunities through the use of the public market to fund potential mergers and acquisitions.
“I am delighted that Cerillion is joining AIM today. It marks an important milestone for the Company and we will use this as a platform to continue to grow the business, both organically and inorganically,” commented Louis Hall, CEO, Cerillion. “We are particularly focussed on driving more growth in the telecoms market with our recently launched convergent charging solution, and on building our presence across a range of other sectors with our SaaS-based billing platform, Cerillion Skyline. We look forward with confidence to capitalising on the opportunities ahead as a publicly listed company.”