Innovative Bath tech firm targets £17m AIM flotation

January 16, 2014

Bath-based tech firm Actual Experience is planning a £17m listing on the London Stock Exchange in what one of its advisers has already called potentially the best float of 2014.

The firm works with more than 40 blue-chip businesses including Cisco, Ofcom and Accenture, to improve their digital supply chains through leading-edge analytics.

It will issue 28.6m shares at a 54p each – giving it a market value of nearly £17m. In July last year it reported revenues of around £400,000 and has since grown its client base by almost 50% to more than 40.

It was founded by chief executive officer Dave Page and chief science officer Professor Jonathan Pitts in 2009.

The firm staged a successful £4m fundraising round with Henderson last November 2013.

Henderson’s UK & Irish fund director Rob Giles said: “We haven’t come across such an exciting technology company with truly global potential for many years. We believe this has the potential to be the best float of 2014.”

Co-founder Dave Page was part of the team behind Nexagent, the Reading-based provider of innovative hardware and software that was bought by global giant EDS in 2008.

He has also worked at Cisco, IBM Global Services, BT Global Services and NatWest.

Jonathan Pitts has been a member of academic staff in the School of Electronic Engineering and Computer Science at Queen Mary, University of London since 1994, and a full professor since 2001. During that time his research has focused on developing effective analytical techniques for modelling the complex behaviours of shared infrastructure and their impact on end-to-end application performance.

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