Leading Software Company takes AIM
AIM (The Alternative Investment Market) has welcomed the admission of another growing software business. Starcom plc, originally founded in 2004, is a technology company specialising in the development of wireless solutions for the remote tracking, monitoring and protection of various types of assets and of people.
The Company floated on the AIM stock market to raise funding to support further organic growth. Currently the company has three principal products in production – the Helios, a vehicle location and fleet management system, the Watchlock, an award winning high security padlock and electronic alarm monitoring system jointly owned with Mul-T-Lock Technologies Ltd, the world’s leading manufacturer and supplier of high security locking solutions and the Triton, a shipping container tracking system.
Starcom has over 15 years of technological experience and expertise and distributes and sells vehicle tracking devices and other solutions for containers, goods and people, through more than 110 partners and independent dealers, in over 50 countries around the world. With affiliated offices in Argentina (South America), Kenya (Africa) and UAE (Middle East).
The admission to AIM and fundraising enabled Starcom to raised £2.72 million before expenses, issuing 13,600,000 new ordinary shares at 20 pence per share. Following the Placing, the company has a market capitalisation of over £14 million.
Avraham Hartmann, Founder and CEO of Starcom, commented, “We have been delighted by the support we have received from UK investors and look forward to creating shareholder value as a public company. We believe AIM will provide us with an excellent platform for the next stage of the Company’s development, supporting our entry into new geographies as we seek to establish ourselves as the global leader in remote tracking, monitoring and protection.”
During 2012 AIM companies from the software and computer services sector raised nearly £100m to their fund growth. Further admissions to AIM from the sector are forecast during 2013, enhancing AIM’s reputation as a stock market which supports innovative growing companies.
AIM is still proving to be a great medium for assisting companies at an early stage in their development with an opportunity to raise funds and trade shares within the stock market arena. In recent years it has seen strong growth both at home and globally and the profile and credibility of the AIM stock market now means it is considered as highly successful growth stock market which now boasts the title of being ‘the most successful growth company stock market in the world’.
