News

TZ looks to quintuple value within three years: CEO

October 27, 2021

TZ looks to quintuple value within three years: CEO

Australian software company TZ has spent two years fine-tuning its books and offering – but its newly appointed CEO is thinking much bigger, vowing to steer the company to new heights.

Australian software company TZ has spent two years fine-tuning its books and offering – but its newly appointed CEO is thinking much bigger, vowing to steer the company to new heights.

Mario Vecchio took the company’s top role in mid-September, and already plans to grow the company’s valuation five times over in the first few years of his tenure.

“The problem with the business is that it has hovered between $15 and $20 million for the last few years. I can see how I’m going to crack through that barrier into the next levels,” Mr Vecchio told investors in a recent briefing.

“I’d be really disappointed if I can’t get this business to $100 million-plus over the next two to three years.”

Unlocking this kind of growth potential is exactly why Mr Vecchio took the position, specifically reaching out to the company with the intention of scaling its operations after exiting his most recent business venture.

It has been a goal of his since he served on TZ’s board of directors in 2018 and 2019.

“I had to leave the board because I became too busy with the start-up I was involved with, but it gave me a real taste for the software assets that lived inside this business, and how they were underperforming and under-executed from within the company,” he said.

“I could see the potential that was there, and I’ve come back into TZ because it’s unfinished business for me, and I wouldn’t come back to keep the revenue and the profitability where it is today. 

“I am a believer; I believe we can scale this business up.”

Mr Vecchio’s tech experience is far from limited to his two-year stint on the TZ board, either. A longstanding veteran of the sector, he has previously worked with the likes of Cisco Systems, Siemens, Juniper Networks and Amdocs.

Since 1998, Mr Vecchio has been involved in the development of many technology projects for the telecommunications, healthcare and utility industries, and has founded several businesses, including Progility PLC.

He then joined APJC Bigswitch, taking Asia from zero revenue to 20% of global revenue. Before joining TZ, Mr Vecchio’s previous role was Aryaka Networks, where he again took Asia from zero sales to over 10% of global revenue.

Join TZ Limited (ASX: TZL) CEO Mario Vecchio for a live investor briefing on Thursday, 28th October, at 11am (AEDT). Book your spot here.

Reach Corporate provides Corporate Advisory Services, including managing investor communications on behalf of TZ Limited and will receive fees for its services.

Sources:

 


General Advice Warning

Any advice provided by Reach Markets including on its website and by its representatives is general advice only and does not consider your objectives, financial situation or needs, and you should consider whether it is appropriate for you. This might mean that you need to seek personal advice from a representative authorised to provide personal advice. If you are thinking about acquiring a financial product, you should consider our Financial Services Guide (FSG) including the Privacy Statement and any relevant Product Disclosure Statement or Prospectus (if one is available) to understand the features, risks and returns associated with the investment.

Please click here to read our full warning.

Weekly Trading Sessions

Covering a market update, picking a direction and trade tips for the week

Leave a comment