Ubiquity Software, a Welsh company with about 30 Ottawa employees, has raised $47 million in an initial public offering on London's AIM market. It will begin trading next week.
Ubiquity makes software for the burgeoning Internet telephone market.
The sale represents about 30 per cent of the company.
"I am delighted at the positive response to our flotation. The funds we have raised will allow Ubiquity to continue to grow its market presence," CEO Ian McLaren said in a statement.
Ubiquity had sales of about $15 million last year. The company is yet another under the guiding hand of Terry Matthews and its IPO comes fresh on the heels of one from another Matthews company – March Networks.
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