Canadian chip developer Alphawave IP is set to float in London after setting a benchmark valuation of $4.5bn from cornerstone investors backing the initial public offering.
The company, founded only four years ago, develops chip technology that pushes data through data centres and phone networks. It intends to raise more than $500m via a listing in London and set up a research centre in Cambridge, the heart of Britainâs semiconductor industry known as âSilicon Fenâ, as part of its expansion.
The company will move its headquarters to the UK as part of the float, providing a significant boost to the government’s ambitions to attract more technology businesses to Britain.
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Why did you take the plunge? I started my business following redundancy from a role that I loved, so trying to build a positive from a very tough situation. What were you doing before you took the plunge? I’d always worked in-house in HR within the technology sector and had been very lucky to work for inspiring, innovative companies including Wolfson Microelectronics, a spin out from Edinburgh University which designed audio chips for Apple’s first iPod products. I went on to work for other founder-led software companies, building and leading their HR functions from scratch. I realised there was a growing market for this as an outsourced service which I felt well placed to address.