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April 05, 2011

NexJ Systems Files Preliminary Prospectus with Regulatory Authorities Across Canada for IPO

By Madhubanti Rudra, TMCnet Contributor

Toronto based leading provider of cloud-based software, NexJ Systems Inc, announced the filing of a preliminary prospectus for proposed initial public offerings of its common shares.

Through a press release, the CRM solutions provider for the financial services, insurance and healthcare industries, announced that the prospectus was filed on March 31, 2011 with the securities regulatory authorities in each of the provinces and territories of Canada, except Quebec.

In the press release, NexJ clarified that the preliminary prospectus does not contain full information regarding the sale of the securities and they may be subject to amendments. Accordingly, the company is not going to sell any of its shares or accept any offer to buy the securities, until a receipt for the final prospectus has been issued.

Not being registered under the United States Securities Act of 1933, or any state securities laws, the securities may not be available for purchase in the United States under normal circumstances. In the press release, NexJ informed that the Offering is being made through a syndicate of underwriters co-led by GMP Securities L.P. and Canaccord Genuity Corp., and including Raymond James Ltd., RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., and NCP Northland Capital Partners Inc.

It should be mentioned here that NexJ experienced a revenue growth of 189 percent between 2007 and 2010. During this span of time, the company’s revenues grew from $930,000 to $22.5-million. Founded in 2003 by, NexJ was created by the founding management team of Janna Systems Inc., a Toronto-based technology company that was once listed on the Toronto Stock Exchange and which was later sold to rival Siebel System for $1.76-billion.

In January, NexJ Systems announced the advancement in its next generation enterprise CRM solution with the release of NexJ Contact for Finance 3.1. The company claimed that the newly released version introduces several features including a new account opening wizard, meeting briefing books and team schedules, as well as enhancements to existing capabilities.

Madhubanti Rudra is a contributing editor for TMCnet. To read more of her articles, please visit her columnist page.

Edited by Jennifer Russell

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