TTP Communications plc, currrently a subsidiary of , has announced that it intends to float on the London Stock Exchange through a global offering of shares and to join the techMARK index.
TTPCom intends to float
TTPCom develops technology and intellectual property used in the design and manufacture of wireless communications terminals, such as mobile telephones. The company licenses its technology to semiconductor manufacturers, for incorporation in their semiconductor chips, and its software to terminal manufacturers, who in turn use the chips and software components in their terminal products.
TTPCom's technology is used today in the core components and software of many GSM mobile telephones. TTPCom is also developing technology for future generations of GSM and Third Generation (3G) terminals and the Bluetooth short-range communications system.
In addition, TTPCom's 'Fast Track' product range provides complete technical designs for low-cost GSM handsets for manufacturers which want to enter the mobile telephone market rapidly without the need to devote large resources to develop an in-house research and development function.
TTPCom's approach enables it to offer products to a variety of customers ranging from sophisticated terminal manufacturers that want to outsource particular aspects of their product design, to new entrants seeking a full technology solution to manufacture mobile telephones and to major semiconductor manufacturers wishing to offer wireless communications products. TTPCom's customers include Analog Devices Inc., Hitachi, Alcatel, 3Com, Novatel Wireless, Maxon, Shintom and Panasonic.
TTPCom's strategy is to enhance its position as a leading independent supplier of core technology for wireless communications by improving and extending its core technology portfolio and developing 'cutting edge' terminal technology for new systems. TTPCom's technological leadership will enable the company to broaden its customer base of terminal and semiconductor manufacturers enabling them to lower costs and respond quickly to the rapidly changing industry.
In the year to 31 March 2000 the company's sales were 18.975 million and profit before tax was 4.988 million.
TTPCom has been working in the GSM wireless communications sector for over 10 years and has evolved its business model from supplying contract engineering and consultancy services to one based on an IPR licensing model.
TTPCom is currently a subsidiary of TTP Group plc, a technology and consultancy group which was established in 1988.
The flotation of TTPCom will be effected through a demerger from the TTP Group to create an independent business prior to listing.
TTPCom has also announced that Bruce Anderson, whose previous roles included Finance Director at United Engineering Forgings Limited and Group Financial Controller at Lucas Varity Plc, has agreed to join the board of the company as Finance Director ahead of the flotation.
Commenting on the announcement, Tony Milbourn, Managing Director, said: 'The flotation of TTPCom will mark another important landmark in the company's development, enabling us to access the resources necessary to grow our business and continue to attract the highest quality people. As our market develops and becomes more complex, we are determined to build on our strong position in GSM, expanding that position into 3G.'