Software and services provider Civica Ltd plans to list on the Alternative Investment Market in London at the end of February in a deal that could raise between 50m pounds ($85m) and 90m pounds ($153m).
Civica provides a range of software and services for some 700 local authorities in the UK, US and Australia, as well as 47 UK police forces, 250 NHS healthcare trusts, and 250 libraries around the world.
Civica develops specific applications to target the back-office functions within these target clients, including automatic number-plate recognition, fleet management, parking enforcement, library management, and revenues and benefits software systems.
It also provides the surrounding IT support and managed services to underpin this. The company’s largest single contract is with the NHS, with which it has a $31m project signed in August 2003 to provide desktop management and systems integration services.
Civica will be the first IT services firm to make a stock market listing since DigitalNet Holdings’ IPO on Nasdaq last October, and the first in the UK market since the successful launch of IT consultant Detica Plc in April 2002. Offshore software and services vendor Patni Computer Systems also plans to make a stock market listing on the Mumbai Stock Exchange.
This article is based on material originally published by ComputerWire