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Cyan to brighten AIM

Article Date:  Nov 14 2005 Elliott Davis


Cyan, a Cambridge-based developer of low-power microchips, is set to float on AIM on Monday 5 December and is looking to raise around £6 million ahead of this, with the aid of nominated adviser and broker Collins Stewart.

Expected to command a market valuation of around £25 million on arrival, Cyan specialises in producing low-power microcontroller units. These are essentially control chips for electronic devices and the company’s products are already integrated into a broad range of gadgets and gizmos, from mobile phones and toys all the way through to cars. Chief executive Paul Johnson does admit, however, that ‘we’ve had scores of design wins, though we are at the start of our revenue curve. The money we’re raising money on flotation is to help us meet the orders now coming in.’

In addition to its core microcontroller offerings, which are manufactured in the Far East, Cyan also supplies its own support software, CyanIDE, through which its chips can be configured. ‘We believe our software is revolutionary,’ Johnson adds, ‘and reduces weeks of work down to a matter of hours.'

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