Blur chief to show tech firms can list in UK as he prepares Aim IPO

LONDON-BASED business-to-business service firm Blur Group is preparing a listing on Aim in the next few months, with founder and chief executive Philip Letts set to make a small fortune.

Letts, who founded Blur in 2009, has appointed Singer Capital Markets to advise on the listing, which could launch as early as this year. He currently owns around 70 per cent of the firm, which teams technology companies up with advisory firms. Blur expects to raise around £5m from the listing.

“We are confident that we have the right foundations in place to ensure that Blur Group becomes the successful, UK headquartered, global player that the UK tech sector needs,” Letts said. He has said in the past that he is determined to prove that Britain is an appropriate environment for nurturing young tech firms.

Letts, 46, became the first British CEO of a Silicon Valley firm when he took the reins at Tradaq in 2000, and has headed five internet businesses since 1991.

Other investors who stand to profit include ITV chairman Archie Norman and Odeon chief executive Tim Schoonmaker.