Managed Solutions Corporation (MSC), a Dublin software company, is planning a partial flotation in early 2001 to secure international capital to fund its expansion in the financial services industry.
While the company has yet to decide on which stock exchange it will float, MSC's marketing manager, Mr Paul MacDonnell, said it was "leaning towards Nasdaq".
No decision has been made on which investment banker will manage the flotation. "We're talking to a number of advisers at the moment. I think we're looking at firming it up within eight to 10 months," Mr MacDonnell said.
MSC hopes to raise about $50 million (#47.2 million) in an initial public offering of about 20 per cent of its stock.
The company is also developing links with a number of web technology vendors, including Web line, which is owned by Cisco Systems.
MSC, which had a turnover last year of $7 million, has developed software which integrates Inter net-based financial service functions with automated internal systems.
MSC claims its suite of three software products - titled Clientwise, Workwise and Life wise - are the first on the world market to offer "end to end" automated services.
The software allows firms to automate the capture of customer information on the Internet and integrates it with business process functions. The administration of accounts and product development functions are also automated.
In the bancassurance and life assurance industry, the software creates the actual financial policy.
Mr MacDonald claimed that products made by MSC's competitors allow the automation of customer generated functions only.
MSC said the product had been in development since 1996. Earlier pre-Internet versions were already being used by firms such as Canada Life, Friends First, Britannia Group and Northern Rock.
The latest version of the product has been taken up by Legal & General.
MSC claims that software automating sales, marketing, service and administration in the financial services business will the world's biggest IT sector.
Citing research by Gartner consultants, it said the total market could be worth up to £3 billion.
MSC employs 100 workers in Dublin and 10 others in the Benelux states and in Britain. It is also opening an office in New York.
Some $3 million of last year's turnover was used for research and development. The company did not reveal a profit figure.
