Outsourcing is a way to cut costs and drive innovation
A software outsourcing services company has gone public after the Irish Securities Authority (ISA) approved the listing of its technology-enabled services.
Software outsourcing services companies have gone public in recent years.
The Irish Securities and Investment Board (ISB) approved software outsourcing service companies, including software outsourcing firm OVX, on Friday.
OVX has been an industry leader since the 1970s and has a presence in over a dozen countries including the United States and Germany.
This is the first time an Irish public company has listed itself on the ISB’s list of listed companies.OV and its subsidiary OVx have been the main players in the software outsourcing industry in Ireland for more than a decade, operating with a team of 20 people in Dublin and a smaller staff in other parts of the country.
In 2016, OV and OVex created the Irish Software Services Company (ISSC) as a platform for software developers and service providers to share technology, while helping them to become more productive and adapt to changing markets.
They said the listing was an opportunity to provide the community with a new way to access their technology and gain new business.
Ovx said it was delighted with the decision.
“We believe the listing will open up opportunities for our software developers, service providers and customers in the future,” said Mr. R. O’Brien, managing director of OV.
It will also help us provide services to our global customers, who now have the opportunity to leverage their software expertise to meet the challenges of the future.”OVExpolis Ireland and OVRexpo Ireland have already been involved in an ICO, an online token sale. “
We are pleased to be joining forces with OVExpo to create a new global digital hub for software-enabled solutions in Ireland.
It will also help us provide services to our global customers, who now have the opportunity to leverage their software expertise to meet the challenges of the future.”OVExpolis Ireland and OVRexpo Ireland have already been involved in an ICO, an online token sale.
Mr. OBrien said the company was looking forward to the opportunity of the listing.
“It’s a positive step forward to continue the evolution of our business,” he said.
Online listings are still an extremely small market and the ISRB said the ISBs listing will allow the market to grow exponentially, which is the most important thing.
However, he said that as the market develops and the value of the tokens increases, it will become more important to have a formal listing.