Minister launches software company

28/2/03
State Development Minister Clive Brown today launched software company Ripple Systems Pty Ltd, a newly incorporated Perth-based company which acquired the assets and business of Mi Services Group (Australia).
The new company is owned by Singapore Technologies Engineering (STE) - 70 per cent - and the Ripple management team - 30 per cent. The significant capital investment by the shareholders enabled the acquisition and funding for the new company.
"It is extremely important for Western Australia to continue to further develop its expertise in the Information and Communications Technology sector and to broaden our business linkages with important Asian neighbours," Mr Brown said.
"This merger will allow Ripple Systems greater access to project opportunities in the Asia-Pacific region."
Ripple Systems specialises in the design and supply of innovative software and open system solutions for transport management, with an impressive array of clients and project completions including the Perth Traffic Control Centre for Main Roads, the Melbourne City Link, and a number of smart card system applications.
The company currently has a number of major projects in the South-East Asian region as well as local defence clients including Tenix, ASC and BAE Systems.
STE is a major Singaporean defence and engineering organisation, which is majority owned by the Singaporean Government, ranking in the country's top 10 companies and is recognised globally as a leader in defence and engineering technology.
STE president Seah Moon Ming said the investment in Ripple Systems would allow the company to leverage and further build upon the assets and capabilities acquired from Mi Services in transportation systems.
"It will add to our capability and resources to deliver a comprehensive solution that integrates various intelligent traffic and rail management technologies for our customers in Singapore, Australia and other regional and international markets," Mr Seah Moon Ming said.
Ripple Systems management sees the company as strongly Western Australian, with STE as a strategic investor. Its operations will remain locally based and its workforce is expected to increase from 60 to 80 people by the end of the year.
"I understand the company will continue its history of successful graduate recruitment from WA institutions," Mr Brown said.
"The merger demonstrates the high regard overseas companies have for our ICT graduates and the investment opportunities that our State has to offer."
The new WA-based company will enjoy greater access to project opportunities in the Asia-Pacific region, complementing STE's plans to expand its own intelligent traffic and rail management and smart card technologies, and provide Ripple Systems with the resources to further develop its products and markets.
The technology behind integrated traffic systems is currently being deployed in two major sites in South-East Asia and is being further promoted in East Asia and Europe. It has already been implemented in Perth, Melbourne and Adelaide.
STE, as a group, employs about 11,000 people worldwide, with a revenue of more than $2.5billion in the 2001 financial year, and has a market capitalisation exceeding $5billion.
Minister's office: 9222 9699