CIMdata PLM Industry Summary Online Archive
30 November 2004
Company News
Incat to Raise £4m From Float
Incat , the Bristol-based information technology company specializing in product lifecycle management services, will today float on Aim.
The flotation is intended to raise £4m to invest in further international expansion in the rapidly growing market for product lifecycle management or PLM - the use of IT to improve manufacturers' product development processes to increase efficiencies and stimulate further innovation.
Incat does 80 per cent of its business in North America, providing PLM services to the aerospace, automotive and durable goods manufacturing industries. Its clients include Ford and Northrop Grumman.
The funds would be used for expansion into other markets, through organic growth and acquisitions, said Ulrich Herter, chief executive.
"There are some markets we need to be in - we are not as strong in Europe as we would like," he said.
Germany was seen as one key market, along with eastern Europe, he said.
According to CIMdata research, the PLM market was worth $14bn (£7.38bn) last year and it should rise to more than $20bn by 2008.
The admission would give Incat a market capitalization of about £31m. The placing also involves the sale of existing shareholders' equity worth £9.2m. Incat was formed in 1989, employs more than 600 people and has about 2,000 clients.
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