Morse Group is gearing itself up for a #600 million stock market flotation, which would make managing director Duncan MacIntyre one of the richest men in the UK computer business. If the company's valuation is accurate, it will have multiplied 13 times in value since it was the subject of a management buyout in September 1995, according to City sources. An advisory team was being set up to prepare for the flotation, which is expected to take place next year.
Ascend enters US index Wan manufacturer Ascend Communications will enter the US S&P 500 stock market index for the first time. Nasdaq-listed Ascend will replace Digital in the index, following the PC vendor's acquisition by Compaq. Analysts expected Ascend's share price to soar as a result of the index effect - where tracker funds quickly buy the stock in bulk to reflect the range of equities in the index.
Zergo to seek London listing Information systems security provider Zergo Holdings is to seek a full listing on the London Stock Exchange. The Basingstoke-based company claims it needs the listing to survive. Zergo is already listed on the Alternative Investment Market, but founder Henry Beker said he needs the #15 million that a London listing would raise to raise its international profile and establish the business in the US.
Netscape CEO boosts stake Netscape CEO Jim Barksdale has paid $7.3 million to increase his shares in the internet firm to 5.1 million, expanding his holding by 6.2 per cent. The move followed his purchase of 300,000 shares, at $24.27 each, on 1 June.
Novell buys back shares Thanks to improvements in its cash position, network specialist Novell will go ahead with a repurchase of 10 per cent of its outstanding shares.
Novell's chief financial officer Dennis Raney said the company has a 'large cash position' of more than $1 billion, and will buy up to 35 million shares on the open market. These will then be retired and cancelled.
ITG losses on the mend Service provider Internet Technology Group (ITG) continues to post financial losses, but the company's results for the six months to 30 April show a marked improvement on the previous comparable period. While pre-tax losses were #164,000, this compares with #1.2 million in the same period last year. Turnover was up to #4.3 million from #1.1 million, while the subscriber base has increased from 26,000 to 80,000. ITG chairman Jan Murray said he was confident the company would soon present a tangible return to its shareholders.
Automation firms UiPath and Automation Anywhere close out their funding rounds with $265m and $300m respectively
View photos of last night's awards ceremony in London
View photos of all the winners from the 2018 Channel Awards
After a glittering awards evening in Battersea celebrating 25 years of the Awards, we are pleased to share the list of winners and judges' commended winners