Atturra lists on ASX with $24.5M IPO

Atturra, formerly known as FTS Group, has listed on the Australian Securities Exchange (ASX) after raising $24.5 million. 

Following its initial public offering, the Canberra-based Microsoft partner will now have a market capitalisation of $100 million with its listing value sitting at 50c per share. 

Founded in 2015, Atturra claims it has worked with over 600 clients to date and engages with 500 personnel to service a range of industries including utilities, education and government. 

Recently, the technology consulting and services business changed its name from FTS Group to Atturra in August following a series of acquisitions that saw it pick up the likes of Mentum Systems, Esam Consulting and Galaxy 42. 

The rebrand was aimed at bringing together these companies, along with other FTS Group companies such as Anatas, Veritec, Cubic Consulting, KoBold and Noetic, with future acquisitions also to be folded into the Atturra brand.

"Atturra has grown rapidly since its inception, building its knowledge and technology expertise to maintain a competitive and defensible position with clients,” said Atturra CEO Stephen Kowal. “This knowledge underpins the Atturra business model, and enables the company's consultants to design, implement and maintain IT solutions for its clients.” 

According to Atturra, the IPO will now see the company execute a nationwide growth strategy, creating new service lines, headcount growth and revenue growth from its existing client base. 

"We will continue to target high growth industries where Atturra can build a sustainable and long-term advantage, and where significant barriers to entry exist,” Kowal added. “Our goal is simple, we want to be Australia's largest IT solutions provider with high engagement across industry, employees and clients."