MSL Solutions raises $16m ahead of IPO

Australian sports software start-up MSL Solutions has closed a $16 million capital raise and acquired two major European firms, as it prepares to go public on the ASX in the first half of 2017.

The Brisbane-based firm had previously planned to raise $5 million in a pre-IPO round and completed that round in late March, however, it sought further funds in order to acquire British hospitality software provider Verteda and golf tournament software firm Golf Box.

“In March we were looking at how to enter international markets and we’d had some long term partners in that space who integrate our technology and understood their customers very well,” MSL’s chief executive Craig Kinross said.

“It made sense for us to work with them and by acquiring these businesses it lets us go into international markets with a lower risk strategy. We’re able to bring the companies together in a very complimentary way.”