Sheffield firm WANDisco set to raise £10m from AIM flotation
SOFTWARE firm WANDisco yesterday announced its intention to raise £10m in a flotation on London’s AIM market at the beginning of June and use the money to fund expansion.
The company, which has bases in Yorkshire and Silicon Valley, provides software development tools to firms such as Hewlett Packard, Motorola and Honda, enabling engineers to work together across borders.
It currently employs 40 people in Sheffield to provide software engineering and support, with sales and marketing based in California.
In February the firm’s chief executive David Richards told City A.M. that he was sure that his firm would be a success if it went public: “I think if you’ve got a growth story like ours – which is 50 per cent growth last year alone – I feel pretty confident.”
WANDisco is currently owned entirely by employees with Richards holding 32.7 per cent of the firm and co-founder Dr. Yeturu Aahlad having a further 32.6 per cent.
The remainder is split between other employees.