The ASX’s third largest tech company will join the index’s top 50 index as its share price soars in recent years.

The value of Brisbane-based software company Technology One has boomed almost 400 per cent over the past five years and more than 65 per cent over the past year, lifting its market cap to $12.3b.

It will knock Penfolds-owner Treasury Estate out of the index when it join the ASX 50 on September 22 and sit near major companies including retail giant JB Hi-Fi and The Lottery Corporation.

Technology One’s annual recurring revenue rose 21 per cent to $511m in the six months to March 31 while its profit grew 31 per cent to $63m.

It also upgraded its forecasted performance for the full 2025 financial year and is expected to extend its run as one of the most reliable ASX-listed tec

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