UK Local Search Firm Infoserve To IPO; Raise $16 Million

(sub. req.) UK local search and directory firm Infoserve will raise about $16 million in an IPO on London’s AIM market. The money will be used to expand its sales operations, invest in further software development and repay existing debt. Its market capitalization will be about $26 million.
Infoserve, which began life in 1999, has largely been funded by David Hood, its founder, and has established itself in the local search market. Partnerships have been forged with The Daily and Sunday Telegraph, the Daily Mail, Sky and the Radio Times.

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