Developer combines launch with going public

Software developer inteRAD Technology is hoping to capitalise on positive market response for its build-IT software development tool.

The company is accelerating its marketing plans and releasing a prospectus for a public raising of up to $10 million, made up of 25 million 40 cent shares. If the capital raising is successful, inteRAD projects a maiden gross profit of $40 million-$48 million in 2001.

A proportion of the funds will be used to launch a media advertising campaign, and the company will also be using the internet to market its product.

Lorraine Cobcroft, inteRAD's chief executive officer, said the company was finalising details of its distribution channels in the US with market strategist Tactical Marketing Ventures. She hopes this will be completed within the next two weeks.

Cobcroft said it would then be formulating its Australian channel strategy. She anticipates that in addition to selling directly over the net, inteRAD would be looking at making build-IT available through specialist mail-order companies and larger VARs, with "shop shelf" distribution of its standard and education product.inteRAD is doing some limited direct selling at the moment, and plans to start actively marketing build-IT towards the middle of the month.

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