Ottawa’s highly regarded Halogen Software files for TSX IPO

After losing dozens of tech companies in the past few years, it seems the Toronto Stock Exchange has begun the process of adding them back.

Just days after Ottawa-based tech legend Terry Matthews took his latest venture, Magor Corp., public through a reverse merger on the TSX Venture Exchange, another local tech has filed for an honest-to-gosh TSX IPO.

Cloud-based talent management software company Halogen Software has filed a preliminary prospectus with the securities regulatory authorities in each of the provinces and territories of Canada in connection with a proposed IPO. The offering is being co-led by Canaccord Genuity and Stifel Nicolaus Canada, and is employing the help of a syndicate of underwriters from Raymond James, Cantor Fitzgerald Canada and National Bank Financial.

Halogen Software, which was founded in 2001 by current chairman Michael Slaunwhite and VP Yvon Martel, markets its eAppraisal application, which is used to automate employee performance appraisals, and sells other products that manage aspects of worklife such as recruitment and succession.

A recent report on the space from Forrester Research gave Halogen the highest score possible. The study, called “The Forrester Wave™: Talent Management, Q1 2013” by gave Halogen the highest ranking of all the vendors evaluated.

“Halogen continues as a leader in customer service and support and customers view Halogen as a partner,” said Forrester senior analyst Claire Schooley. “The [company’s] customer focus is midmarket, but Halogen has a growing number of global customers.”

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