Pulse is reviving plans to float

Export success story Pulse Data International has revived plans to list on the stock exchange after merging with one of its biggest international competitors.

The Christchurch technology company, which makes computers and software to help the blind and visually impaired access information, has merged with Canadian firm VisuAide.

The new entity, HumanWare Group, will be one of the world's largest companies in the low-vision and blindness industry.

It will be headed by Pulse Data's chief executive, Russell Smith, and will remain based in Christchurch.

Pulse Data, which started life in 1988 as a buy-out of the old Wormald Group and now exports to more than 30 countries, put its plans to list on hold in the middle of last year when the opportunity to merge with VisuAide arose.

Yesterday, the company's strategic manager, Hassan Wong, said the intention was "very much still there to list at an appropriate time".

But it was important to finalise the merger first, he said

Pulse Data, which has a turnover of $40-50 million, said it was seeking to raise as much as $20 million when it first announced intentions to list in 2003.

VisuAide, with a turnover of $20 million, is half its size.

Wong would not give details on the terms of the merger, but said the deal was a combination of shares and cash.

VisuAide president and chief executive Gilles Pepin and chief financial officer Yves Boisjoli will be significant shareholders in the new company.

The Canadian company will continue as a subsidiary of HumanWare, alongside Pulse Data's three subsidiaries in Britain, the United States and Australia.

Pulse Data is known internationally for its Braille and speech technology, screen-reading software and video-magnification solutions.

In 2001, the company received a major publicity boost when its Braille laptop computer - which allows blind people to use the internet - was endorsed by American musician Stevie Wonder.

Last year, Pulse Data won the information and communications technology category at the New Zealand Trade and Enterprise export awards.

And last November, the company launched the innovative myReader product, which it claims will revolutionise the low-vision market.

Claiming to be a world-first, myReader is the result of three years' work by the research and development team.

The portable device uses a customised image sensor developed specially for the business by Belgian firm FillFactory, with which it entered into a joint venture.

Pulse Data's blindness product manager, Jonathan Mosen, who has been blind since birth, said at the time: "There's never been a more exciting time to be a blind person and have access to information."

VisuAide's main product is the Victor Reader digital talking book player.

Smith said uniting the two companies would accelerate the achievement of common goals.