Outsourcery shines on AIM debut

CLOUD computing company Outsourcery has made a promising debut after its admission to AIM, which saw it raise £13m.

The Manchester-based company, led by new Dragons’ Den investor Piers Linney, saw shares rise just over 10% from 110p to 121.5p in the first few hours of its shares being traded.

The company which was founded in 2007 and is based in the Spinningfields business district, placed 11.54 million shares.

The group works with major bluechips including Vodafone, Virgin Media Business, BT, HP and Atos to enable these and other partners to deliver cloud services to their end-customers.

Commenting on the AIM listing, which gave Outsourcery a market capitalisation of £34m, Piers Linney, Outsourcery’s co-CEO, said: “We are delighted by the level of interest the placing has received and the calibre of institutions who have made commitments of long-term capital to the company. We are particularly encouraged that investors are as excited by the opportunity as we are.

“Our Admission to AIM and the funds raised will enhance the opportunities to develop the business, using the strong platform we have created over the last few years. We look forward to maintaining our rapid growth and building a business of scale.”