An Oxford chip-design firm, Celoxica, has applied for admission to the London Stock Exchange’s small-company mart, AIM, ahead of plans for an initial public offering. The company expects to raise about £10 million (€14.5 million) via such an offering, assuming a valuation of the company of approximately £25 million (€36.3 million). A company spokesman said that Celoxica has not yet been accepted by the AIM and thus there is no specific timing for the IPO as of yet.
The Oxford University spin-off says its software enables systems
specialists and engineers to translate design specifications directly
to chip prototypes, eliminating the need for costly and time-consuming
simulation and testing processes. Celoxica's investors include Advent,
Cazenove, Quester, Intel Capital, Xilinx, Wind River and Creative.
Celoxica was founded in 1996 under the name Embedded Solutions Limited.
It retains its Oxfordshire R&D centre and has additional research
facilities in Austin, Texas and Yokohama, Japan.