ActiveOps reveals plans for ‘£100 million-plus’ AIM float

ActiveOps’ SaaS platform is used by banks and services firms including Nationwide and Capita to help manage office operations and staff workflows

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Many City firms use the company’s technology (PA)

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Naomi Ackerman @nomiackerman

15 March 2021

Software provider to banks and insurance giants, ActiveOps, has revealed plans to float on AIM later this month in a listing expected to value the firm at more than £100 million.

ActiveOps' SaaS management process automation platform is used by banks and services firms including Nationwide and Capita to help manage office operations and staff workflows.

Like other software providers, the Reading-based company, which was founded in 2005 by consultants Richard Jeffery and Neil Bentley, has seen demand soar since the pandemic hit as big business looked to invest in technology facilitating remote working and ensuring security.

The firm reported revenues of £20 million last year, and its IPO plans will see the company join a string of online lockdown winners listing on London's junior market early this year, including doorstep delivery firm Virgin Wines and over-60s meal provider, Parsley Box.

ActiveOps is planning just over 50% free float of shares. The firm's biggest shareholder is VC firm Calculus Capital, which plans to sell 50% of its 29% stake in the company at IPO.

Investec is acting as nominated adviser, financial adviser, sole broker and sole bookrunner on the IPO.

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