Trintech to Float on Nasdaq and Neuer Markt

Computergram International, August 24, 1999

Trintech Inc, a San Jose, California-based net payment processing technology provider, plans to make an initial public offering on the Frankfurt Neuer Markt in late September. The company will create 5.8 million new shares, 30% of its existing equity, which will represent 23% of the new holding. Trading is expected to start on September 27, with pricing for the shares starting on September 8. The lead underwriters BT Alex Brown will be joined by BancBoston Robertson Stephens, WestLB Panmure and Donaldson, Lufkin & Jenrette.

The cash will be invested in expansion both organically and by acquisition. Trintech is eyeing France and Austria as likely markets to build on its strong position in the German market. It will also look to buy small, privately-owned complementary companies with either back-end interface or chip card technology worth up to $50m, says Trintech president and co-founder Cyril McGuire. Trintech plans to increase its 250 employees worldwide by another 100 to 150 over the next 12 months, says McGuire.