Sunday, 01 August 2021 18:00

SAS announces intent to IPO in 2024 Featured

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The global leader in data analytics, SAS, has remained a private company under the same owners and leaders since its inception in July 1976. SAS has now announced its intention to join the stock market by 2024.

Dr. Jim Goodnight co-founded SAS with John Sall 45 years ago, and Dr. Goodnight has been the organisation’s Chief Executive Officer this entire time. The business now has annual revenue exceeding $US 3.1 billion.

With Goodnight surely intending to retire at some point, former Chief Operating Officer Dr. Oliver Schabenberger was touted as the CEO-in-waiting. Yet, Schabenberger left the company six months ago, bringing back the question of what happens when Goodnight - currently 78 years of age - decides it’s time for a rest. While the next CEO may not yet be known, the company’s future has now been made clear.

SAS has announced its intention to be ready for an initial public offering, or IPO, by 2024. The process requires private companies, no matter the size, to refine financial reporting structures and streamline certain operational processes to meet stock market requirements. Additionally, SAS will enhance its focus on the segments of its platform where the company can continue to succeed and grow to the benefit of its stakeholders. In particular, SAS will be investing in, and further developing, its artificial intelligence capabilities and advanced analytics software and solutions.

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“By moving toward IPO readiness, we can open up new opportunities for SAS employees, customers, partners, and our community to participate in our success, ensuring the brightest possible future for all of us,” Goodnight said.

“As an organisation, we are on a solid path forward, with sustainable growth that continues to build upon the trusted brand and platform we have created. We have built a strong operational and financial foundation, setting us up for an even better future. Now, it’s time to prepare for this next chapter.”

SAS has achieved 45 consecutive years of profitability, is the only vendor to be named a leader in every Gartner Magic Quadrant for Data Science and Machine Learning platforms since the report began eight years ago, and has achieved 8.4% revenue growth in the first half of 2021.

SAS is recognised globally as a pioneer of workplace culture and has contributed software and expertise to numerous charitable and social good endeavours. Examples include the Black Dog Institute, Kids Cancer Council, and the Malala Fund, among many others.

SAS also provides a free data literacy course for everyone, providing fundamental skills in evaluating and interpreting the mass of data we receive via news sources and other media.

“Over the years, SAS has built a reputation for innovation, a relentless focus on the customer, and a strong sense of corporate identity. As we chart our path toward an IPO, we will continue to invest in our brand and platform, prioritising our core values and empowering customers to solve their most complex problems,” Goodnight said.

 


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David M Williams

David has been computing since 1984 where he instantly gravitated to the family Commodore 64. He completed a Bachelor of Computer Science degree from 1990 to 1992, commencing full-time employment as a systems analyst at the end of that year. David subsequently worked as a UNIX Systems Manager, Asia-Pacific technical specialist for an international software company, Business Analyst, IT Manager, and other roles. David has been the Chief Information Officer for national public companies since 2007, delivering IT knowledge and business acumen, seeking to transform the industries within which he works. David is also involved in the user group community, the Australian Computer Society technical advisory boards, and education.

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