SLI Systems

SLI Systems provided cloud-based search tools for online retailers under a "software as a service" (SaaS) model. It was a public company listed on the New Zealand stock exchange.

SLI Systems
TypeAcquired
IndustrySoftware
eCommerce
Founded2001
Products
  • Learning Search
  • Learning Navigation
  • Site Champion
  • Learning Recommendations
WebsiteSLI-Systems.com

SLI is an acronym for Search, Learn and Improve.

Products

SLI's main product, Learning Search,[1] uses the behavior of its users to determine search results. The company also sells a user-generated search engine optimization (SEO) product called Site Champion, and a site navigation product called Learning Navigation.

Origin

SLI Systems was formed in 2001,[2] and in 2013 the company raised $27 million NZD in its initial public offering[3] and listed on the NZX.[4] The core technology was originally developed at GlobalBrain, a company founded in 1998[5] by Grant Ryan.[6] That company was acquired by the internet arm of US media company, NBC in April, 2000 for US$32 million, but after dot-com crash[2][7] Shaun Ryan and others bought the technology back from NBC, and formed SLI Systems.[2]

SLI formerly had offices in San Jose, Christchurch, Tokyo, Melbourne and London and over 400 clients internationally including, FTD, 7 for all Mankind, Harry & David, and Next.[8]

Performance

In 2013, SLI Systems launched an initial public offering on the NZX stock exchange, raising $27m NZD with shares issued at $1.50, to help fund growth into important markets like Japan and Brazil.[9] Key investors included NZ entrepreneur Sam Morgan.[10] SLI Systems's share price performed strongly initially, rising to $2.50, before falling to as low as 71c after the company posted larger than expected losses and had some unexpected senior management changes 2015.[11][12]

SLI Systems announced to the New Zealand Exchange in November 2015 that revenue guidance would be 29% above the previous year.[13] Recent significant client customer wins announced at the 2015 annual general meeting included Lenovo, David Jones, Harvey Norman and Paul Smith.[14] SLI Systems' UK website also list a number of clients via case studies .[15]

In January of 2019 the company was taken private via acquisition by a private equity firm. The SLI search algorithm and IP were rolled into the company portfolio.[16]

The company no longer operates independently and was delisted by the New Zealand Stock Exchange in January of 2019. Soon after, the US domestic headquarters in San Jose were shut down.[17]

References
  1. "Chemist Direct conversion rates soar following deployment of SLI Systems’ search technology", 31/07/2014, Fiona Briggs, etailtimes.co.uk
  2. "Focusing on retail works for SLI". Dene Mackenzie, 16 Jul 2014, Otago Daily Times
  3. "Investors take a shine to new tech stock SLI Systems", 1 Jun 2013, Hamish Fletcher, NZ Herald
  4. "SLI Systems lists on NZX today", 30 May 2013, computerworld.co.nz
  5. "GlobalBrain back to have another crack", 21 January 2002, Andrea Malcolm, computerworld.co.nz
  6. "Global Brain back on market after huge losses at US owner", Apr 11, 2001, Chris Barton, NZ Herald
  7. McCrone, John: Secrets to Success The Press 31/07/2011.
  8. SLI Systems's customers
  9. "SLI Systems to sell shares at $1.50 in bid for Japan, Brazil growth". The National Business Review. Retrieved 2016-01-03.
  10. "Sam Morgan to invest another $1m in SLI". The National Business Review. Retrieved 2016-01-03.
  11. "SLI Systems tips cashflow breakeven". Stuff. Retrieved 2016-01-03.
  12. "New role for SLI Systems CEO". Stuff. Retrieved 2016-01-03.
  13. "SLI Systems Limited". www.nzx.com. Retrieved 2016-01-21.
  14. "SLI Systems Limited". www.nzx.com. Retrieved 2016-01-21.
  15. "Case Studies | SLI Systems UK". www.sli-systems.co.uk. Retrieved 2016-01-21.
  16. {{Cite web|title = https://www.prnewswire.com/news-releases/sli-systems-acquired-by-esw-capital-300778581.html
  17. http://www.scoop.co.nz/stories/BU1901/S00017/sli-systems-to-delist-next-week.htm
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