UK chip designer Celoxica seeks AIM listing

12 Oct 2005 | News

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.

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