Phoenix IT Group is hoping to take a unique position among its Techmark competitors after its flotation on the London Stock exchange with an estimated market capitalisation of £144.4m.
Phoenix will be the only IT listed services company that claims to do most of its business through resellers and integrators.
Ian Spence, IT services sector analyst at broker Robert Baird, said: "Their margins are materially better than their peer group. I imagine an element of that is down to being indirect."
The mythical bird from which Phoenix drew its name was unique. However, there are 2,090 firms with the name Phoenix registered at Companies House. A further 42 are registered with the incorrect spelling, 'Pheonix'. Then there are nine who opted for 'Phenix'.
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