ActiveOps starts trading on AIM with £75.7mln IPO

The flotation values the software company at £119.8mln


ActiveOps plc (LON:AOM) announced it started trading on AIM on Monday morning, in a flotation that values it at £119.8mln.

The firm raised £75.7mln on its IPO, where existing shareholders, including Calculus Capital and co-founder and CEO Richard Jeffery, sold some shares.

Jeffery will retain a 13.8% stake while Calculus will have a 6.1% holding.

The proceeds will be used to boost growth plans.

ActiveOps works in Management Process Automation (MPA), providing a SaaS platform to large enterprises with complex and often global back-offices.

The group's software and embedded back-office operations management methodology enables enterprises to adopt a data-driven, scientific approach to organising work and managing capacity.

As of December 31, it had 80 enterprise customers, predominantly in the banking, insurance and business process outsourcing (BPO) sectors, including Nationwide, TD Bank, Anthem, Inc and DXC Technology, with full-year revenues up13% to £20mln.

“Increasing regulation, automation and the changing dynamics of the workforce mean back-office operations are becoming ever more complex,” said Jeffery in a release.

“We see a clear and growing need for our offering, which through the enhanced credibility and profile of our IPO we are increasingly well-placed to deliver."

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