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Another Irish firm opts for AIM

Dublin-based company Calyx is planning to raise around €10m by listing on London's AIM market.

The company provides information and communication networks to a number of customers, including the Revenue, Government departments and financial institutions.

For 2004, Calyx had revenues of €32.4m and earnings before interest, tax, depreciation and amortisation of €3.5m.

Calyx says it will use the proceeds of the flotation to invest in technical, sales and marketing infrastructure, and to acquire additional products and businesses.

CEO Maurice Healy led a management buyout of the company from Alphyra in 2002.