Dutch technology company CM.com, which runs messaging services for companies and is providing the ticketing infrastructure for the Dutch Grand Prix, is considering an IPO in Amsterdam, the Financieele Dagblad said on Monday.

If the IPO goes ahead, it will be the first in Amsterdam since payment system Ayden launched last year.

Sources told the FD that ABN Amro and Jefferies have been brought in to lead the process and that investors have already been approached. A formal decision still needs to be taken, the paper said.

CM.com was founded 20 years ago as a student text message service about discotheques but now counts Ikea, Domino’s Pizzas and Albert Heijn among its client base.

The company has also started running ticket services and won the contract to organise sales for next year’s Zandvoort Grand Prix, the first to be held in the Netherlands in 35 years. CM.com’s third arm involves automatic payment systems.

According to the FD, the company has international ambitions and would like to follow the example of US company Twilio, which launched on the Nasdaq in 2016, and expects to book turnover of €1bn this year.