Magazine article New Zealand Management

Deloitte Emerging Enterprise Award: Jade Software Corporation: Remarkable Re-Emergence

Magazine article New Zealand Management

Deloitte Emerging Enterprise Award: Jade Software Corporation: Remarkable Re-Emergence

Article excerpt

[ILLUSTRATION OMITTED]

Jade is an information technology research and development organisation with 30 years' experience in supplying software solutions and services around the world. Established in 1978 by Sir Gil Simpson, the company flourished, finding international success with its software language and products, and planning a public listing. Testing times came at the start of this decade as expenses increasingly outweighed revenue and the company went to the brink of disaster. Ex-RBNZ deputy governor Rod Carr was employed in 2003 and worked steadily with the board to shore things up. The cost-cutting and capital raising measures put in place worked and Jade is once again a leading light in the sector, now employing 300 people in New Zealand, Australia, the United Kingdom and the United States of America.

While Rod Carr is leaving Jade now, having been appointed to the position of vice-chancellor at the University of Canterbury (from 1 February 2009), the company has been turned around and restored to profitability and growth. Over the past five years it has increased its revenue from $32.2 million in the 12-month period to 30 June 2004 to $51 million for the 12-month period to 30 September 2008. Jade has re-emerged with a solid capital base, is experiencing consistent growth across all business units, and has an experienced and able executive team.

JUDGES' COMMENTS

WINNER

JADE SOFTWARE CORPORATION

This 30-year-old software research, development and product support company was once brilliant, then faltered and is now emerging again. …

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