Squire Sanders’ Capital Markets team has advised on three IPOs of UK technology firms on the AIM market of the London Stock Exchange in the past six weeks.
Matt Doughty, IPO expert in the Capital Markets team in London, said, “UK technology is booming through innovation and creativity and AIM is naturally attracting listings from dynamic firms across the sector, looking for growth opportunities and the capital to fund them. Alongside a strong pipeline of listings, placings, and acquisitions in technology and tech-related sectors such as e-commerce, we are also seeing considerable interest in AIM in other industries such as retail, and also from non-UK firms.”
At the end of March, Squire Sanders’ partner Steven Glover advised Xeros Technology Group, the innovative Yorkshire-based developer of a polymer bead cleaning system, on its AIM IPO. Its pioneering technology reduces the consumption of water, energy and chemicals throughout the cleaning process. Funds raised from the IPO will support the continued roll out of Xeros’ technology into the commercial laundry market as well as development into areas such as the domestic laundry market.
In mid-April, partner Giles Distin advised Panmure Gordon, broker to Eagle Eye Solutions Group, on the company’s AIM IPO. Eagle Eye Solutions is a UK market leader in digital coupons and vouchers, with a pioneering multi-patented transaction software platform, supporting real-time, multi-channel digital offers, payments and rewards.
At the end of April, partner Matt Doughty advised Cenkos Securities, broker to Rosslyn Data Technologies, on the company’s AIM admission. Rosslyn Data Technologies plc is the holding company for the Rosslyn Data Technologies Group, a leader in cloud-based data management and analytics. Founded in 2005, with headquarters in London and offices in both New York and Colorado in the US, Rosslyn provides analytical services to its clients by combining four key technologies, data extraction, cleansing, enrichment, and visualisation, through a single cloud platform enabling users with detailed data to make more informed decisions.
Following the recent IPOs, partner Matt Doughty has also advised client Keywords Studios plc on its latest acquisition and share placing of £6 million. Established in 1998, Keywords is an international technical service provider to the global video games industry, with offices in Dublin, Tokyo, Seattle, Montreal and Rome. Keywords has acquired the entire issued share capital of Binari Sonori, a leading provider of outsourced voice-over and translation services to the international video games industry with operations in Milan and Los Angeles. “We’re delighted to support Keywords in this transaction, the latest in its strategic plan for global growth,” commented Matt Doughty.
This is the third and largest acquisition by Keywords in 2014 on which Squire Sanders has advised. The London team previously advised on Keywords’ acquisitions of Babel Media Ltd, a leading provider of outsourced video games services with operations in the UK, Canada and India, and of Liquid Violet Ltd, a video games voice production services company.