Systems Integrated Research, the Belper-based educational software firm, is to accelerate reasearch and development plans through an Aim market flotation which will give it a #16 million valuation.
Geoff Glossop, reasearch director at the 40-strong firm, said it would use the money raised to repay some existing loans and to double the rate of product development.
SIR produces CD-Rom format software designed for the national curriculum, which it supplies direct to schools and onto the Sigh Street through a network of 160 dealers.
The company was formed four years ago to sell PCs direct, but changed direction in 1994 with the acquisition of the educational software house Global Learning Systems.
Sales are currently split 70/ 30 between software and hardware, but the company expects to concentrate on software only in the future.
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