Big Technologies Plc, a people-tracking firm led by confused.com founder Sara Murray, has confirmed plans to float in London’s AIM market.
The company today filed a regulatory notice on the stock exchange indicating its intention to list and raise new funds via a placing, though the details were marked ‘to be confirmed’.
Earlier this year, in April, media reports said it sought an IPO valuing the company at around £500mln.
‘Buddi’ is the firm’s main brand. It is a personal tracking system presently in use in the protection of vulnerable people and children. Buddi is a wearable device, a wristband, that features automatic fall detection, a push button alarm and a location finder.
At the same time, the technology is used by criminal justice organisations around the world, in via ankle ‘tags’.
In the UK, the company is contracted to around 80% of councils and its recent revenue growth has reportedly come from emerging markets, via contracts for the offender tagging product.
Through an SaaS (software as a service) model its subscription-based revenues are tied-in via long term contracts, of up to 12 years.
Zeus Capital was named in the filing as the company’s nominated advisor in relation to the potential listing on AIM.