London Stock Exchange today welcomed essensys plc to trading on AIM

London Stock Exchange today welcomed essensys plc to trading on AIM.

essensys is the leading provider of mission-critical software-as-a-service platforms and on-demand cloud services to the high growth flexible workspace industry. Trading under the ticker “ESYS”, essensys successfully raised £28 million from leading investors, valuing the Company at £72.6 million on Admission. essensys is embedded within the rapidly growing, global, flexible workspace market and is benefitting from early mover advantage and deep industry integration. This is reflected in strong SaaS metrics, high recurring revenues and a track record of consistent growth since the launch of its first product, Connect, in 2010. essensys is strategically positioned to benefit from growth in the market by utilising its comprehensive solutions and continuing to extend its geographical reach. essensys has grown significantly since its incorporation in 2006, both organically and through acquisition, and currently employs over 70 people with offices in London, New York and Los Angeles, in addition to an offshore development centre located in Hanoi, Vietnam. essensys has demonstrated strong financial performance, with revenues growing to £16.4 million in FY18, while it enjoys high recurring revenues and excellent pipeline visibility to support its continued growth.

Mark Furness, CEO and Founder of essensys, said:
"Today is a landmark day for essensys, marking the start of the latest and most exciting phase of our journey to date. The positive reception we have received from investors has been hugely encouraging, and serves as an endorsement of the strength of the business we have built as well as the significant long-term opportunities that lie ahead of us as a UK-listed company with global ambition.

"I want to thank everyone who has helped essensys achieve this successful flotation, especially our committed, passionate employees who are the true heartbeat of our business, and our loyal customer base who have allowed us to play an exciting role in the evolution of the flexible workspace industry."

N+1 Singer acted as sole placing agent and has been retained as Financial Adviser, Nominated Adviser and Sole Broker. FTI Consulting acted as communications adviser.

Quick facts

Track
Market: AIM
Instrument market cap (£m)
52.80
Listing/Admission to trading
29 May 2019
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