ANN ARBOR Arbortext, which develops enterprise software for publishers, has been named for the second year in a row to the Always On Top 100 Private Companies list giving the Michigan technology company much higher visibility on Wall Street as it positions itself for a possible initial public offering in 2005.
The AlwaysOn Top 100 companies are selected based on their demonstrated leadership and innovation in two key areas: Market traction measured by revenue or customer growth, and new approaches and technologies that are likely to cause significant change to existing markets and well-established players.
In the first quarter, Arbortext generated 36 percent growth in new business, and the 11th consequitive quarter of record revenue.
Private company innovation is incredibly strong and continues to flourish, said AlwaysOn Founder Tony Perkins. Only 50 of last years AO100 companies returned to this years list and 50 new companies have been selected that are well positioned to significantly contribute to the second-generation of the Internet.
Arbortext spokeswoman Beth Ambaruch said the list is a way of giving influential business analysts a head up for companies leading the technology pack. While Arbortext has no immediate plans to file for an initial public offering, if market conditions warrant in 2005, and the companys economic performance continues accelerating, having Arbortext on such high visibility lists could make the potential IPO more valuable on Wall Street.
We hope to do an IPO in 2005, but dependent on market conditions and if we can continue our revenue and customer growth.
One of the largest investors in Arbortext is North Coast Technology Investors of Ann Arbor. Arbortext develops enterprise publishing software for print, the web, HTML code and wireless devices.
