On 9 December 2020 the merged entity of thedocyard and Ansarada commenced trading on the ASX. Ansarada published its annual accounts showing annual revenue of $30.6 million for 2019/20, which was down from 2018/19 at $33.6 million. In neither year was Ansarada profitable. Nonetheless, the market capitalisation of the merged entity is now $115 million. This is more than three times annual revenue. thedocyard brought a non-material amount of revenue and significant losses to the merger. The challenge will now be to grow revenue and establish profitable trading. Since listing as ASX:AND the share price reached a high of $1.68. Most recently it was $1.28.
In August 2020 when the proposed merger/listing was announced, Sam Riley, Ansarada Co-Founder & CEO wrote:
Why this deal? Why thedocyard?
Well, firstly our respective products and customer bases are highly complementary, and I know from spending time with thedocyard founder Stuart Clout so too are the vision and values we share. We both lead with care and curiosity to serve our customers to achieve better outcomes. These were of foundational importance to me.
We’ve had a long held ambition to be a publicly listed company and the opportunity to do that and bring together TDY’s differentiated workflow tools, deal management features and the Athena board management portal with our market leading Virtual Data Room and Pathways platforms were very exciting from a strategic perspective.
This deal is about our next stage as an independent company. It is unashamedly about growing to meet our potential as a business on a global stage. The combined technology and expertise will create an unrivalled SaaS platform for information governance and end-to-end management of corporate transactions. Our customers will be positioned better than ever to improve performance and ensure they are ready to act with confidence in every critical decision and transaction.
What is information governance and why does it matter?
Information quality and the way it is managed is becoming an ever-increasing strategic business asset. It is the cornerstone of fast and effective decision making. It’s the roadway to repeatable results. It’s all-important in assuring actions are aligned. It’s mandatory to manage risks. It’s critical to compliance certainty. It’s essential to enable efficiency. It underpins the execution of any successful strategy and it’s what’s relied upon by people to move forward with confidence and pace right across an organisation.
That’s why I’m thrilled to be joining together with thedocyard. It amplifies and accelerates our vision of becoming the information governance platform that executives, Boards and business owners rely on.