citychap

Archive for April, 2008|Monthly archive page

Upbeat Update from Intelek

In aerospace, AIM, communications, it hardware, stocks, technology on April 25, 2008 at 1:10 pm

Electronic communications systems specialist Intelek (AIM: ITK) is reporting that underlying profits will ‘comfortably’ exceed market expectations.

The AIM-quoted company, which made £5.6 million pre-tax profit in the year to March 2007 on £37 million turnover, supplies electronic systems for satellite and microwave communications, as well as precision parts for the aerospace market, reports progress throughout its divisions.

Based in Swindon, Intelek, increased ‘underlying’ pre-tax profits 45 per cent to £1.48 million in the six months to September and now says ‘strong trading’ continued throughout the financial year to last month.

A bright light stock during these dark days. Worth looking over.

Braveheart Helps Spiral Gateway to Market

In computers, technology on April 15, 2008 at 11:02 am

GrowthBusiness.co.uk is reporting that Edinburgh-based computer processing technology developer Spiral Gateway has secured over £700,000 of funding from a consortium headed by technology-focused financier Braveheart.

Braveheart was joined in the syndicate by Imperial Innovations, Bank of Scotland Corporate and the Scottish Co-investment Fund.

Spiral’s core product helps computers to process multimedia, wireless and broadband tasks. It aims to incorporate its technology on to silicon chips and will initially target the image signal processing market, a function required in every camera-enabled mobile phone.

Founded in 2004, the company was a tech spin-out from Edinburgh University. It has a licence with the institution for the rights to its reconfigurable instruction cell architecture technology. It recently released a silicon-based prototype of the technology to market its product to the image signal processing market.

Technology IPOs On Hold

In AIM, IPO, software, stocks, technology on April 8, 2008 at 2:35 pm

It’s been a slow start on the AIM and Plus Markets for IPOs in 2008, in single digits monthly and only a couple of tech start-ups amongst them.

And it appears that over the pond in Silicon Valley the same slowdown is taking place – just one in the first quarter – ArcSight (ARST), which makes security and compliance software. For the same period last year the score was nine startups.

Where IPO is stagnant M&A seems to be taking up some of the slack, but this is displacement activity. Everyone knows there is a whole heap of ideas waiting for take-off but until the money men sort themselves out it would seem we’re all just going to have to keep surfing youtube for kitteh videos.

Optilan MBO

In communications, it, it systems, telecoms on April 4, 2008 at 3:30 pm

NVM Private Equity has backed the management buy-out (MBO) of Coventry-based telecoms network provider Optilan. The firm has invested more than £5 million in the MBO, which is led by Optilan’s CEO and co-founder Richard Buckland.

Optilan designs, installs and maintains telecoms systems for the oil and gas, transport, power and utilities industries. These are sectors with long lead-time for investments and where markets remain relatively strong. A good combination.

The company has 200 employees, the majority of whom are engineering and technical staff, and satellite offices in Moscow and Qatar.

In addition, news that NVM has exited Technology for Business, a Hampshire-based provider of IT systems for law firms.