Tech

Aelius Biotech scientists raise £750,000 to expand overseas presence

2025-12-08 10:16:09

A Newcastle biotech company is set to expand its overseas presence after raising a further £750,000. Aelius Biotech’s laboratory gut model is used to trial new drugs and foodstuffs without the need for animal testing, with its model showing how substances will be digested by the body, helping its customers to de-risk product development and improve formulations. Now the firm has raised the six-figure sum from the North East Venture Fund, supported by the European Regional Development Fund and managed by Mercia Ventures, which it will use to expand its presence in the US and European markets and complete work on its new laboratory in Newcastle’s Blandford Square. Aelius’s model is the only one of its type that can simulate all three stages of the digestion process, providing testing services for consumer health, pharmaceutical and ‘functional food’ companies including Huel. The business was founded in 2018 by Dr Peter Chater, Dr Matt Wilcox and Professor Jeff Pearson based on their research at the University of Newcastle and the company received initial £1.25m funding from Mercia Ventures and the North East Venture Fund in 2023. Since then it has increased staff from five to 15 and brought in new food clients, including a number of alternative protein and lab-grown meat manufacturers. It also doubled its revenue in 2024. Dr Chater, the company’s CEO, said: “Over the last year we’ve demonstrated the market for novel and improved in vitro testing methods, and expanded our customer base as well as the Aelius team. Along with our move to our new premises, this latest funding will enable us to accelerate our growth in international markets, particularly in the US.”

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Quickline’s Project Gigabit rolls out to additional 6,000 homes and businesses

2025-11-18 05:42:46

Rural broadband provider Quickline is to take its full fibre broadband to thousands more hard-to-reach homes and companies on the back of multimillion-pound funding. The Willerby-based infrastructure specialist is extending its Project Gigabit rollout, resulting in connection for 6,000 additional businesses and homes across Yorkshire and Lincolnshire. The expansion is backed by an additional £11m in public funding, which it said ensures Government investment is directed where it’s needed most. Project Gigabit is a UK Government funded programme allowing hard-to-reach communities to access fast, reliable, gigabit-capable broadband, reaching parts of the UK that might otherwise miss out on upgrades to next-generation speeds. The newly added premises are spread across all Quickline’s existing Project Gigabit network including in West Yorkshire and the York area, North Yorkshire and East Riding of Yorkshire and Lincolnshire. The adjustment ensures that public funding is used effectively, targeting areas with some of the greatest need for improved connectivity based on the latest data. The expansion brings the total public investment in Quickline’s full fibre rollout to more than £300m, covering more than 170,000 premises. The rollout is moving across the whole of Yorkshire and majority of Lincolnshire, with rural communities across all contracts gaining access to broadband from Quickline every week. Dan Hague, project delivery director for Quickline, said: “This is great news for people in underserved areas across Yorkshire and Lincolnshire. By refining our plans with the more recent data, we can extend our reach and connect even more homes and businesses to full fibre broadband where it’s needed most. As a trusted regional delivery partner for the UK government, we’re proud to play a key role in ensuring no community is left behind.”

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Healthtech firm SiSU Health aims for European and Manchester growth with £1.25m investment from Praetura Ventures

2025-12-06 07:00:46

A healthcare firm that aims to help reduce inequalities by helping people detect and treat health conditions early has won a £1.25m investment to grow across the UK and Europe. SiSU Health has secured the support from Praetura Ventures to grow its team and expand the reach of its digital health services. The company, led by CEO Samantha Fay, has its operations and logistics business in Manchester. It also plans to use the funding to grow its presence in the city, expanding the manufacturing of its SiSU Health Stations, and is working with the Department for Business and Trade to find a larger home. SiSU Health aims to help people detect risk factors, such as high blood pressure and obesity, so they can make lifestyle changes. The company’s work also generates anonymised population health data that can be used to inform public health strategies. The company already has clients including Aldi, Jaguar Land Rover, The AA, Workday and a range of councils and NHS trusts, with 20,000 people using its services each month. It wants to grow to have a network of more than 600 health stations by the end of 2026. SiSU Health has secured the investment from the GMC Life Sciences Fund By Praetura, which brings together Bruntwood SciTech, Greater Manchester Combined Authority and Enterprise Cheshire and Warrington. Investment has also come from NPIF II – Praetura Equity Finance, managed by Praetura as part of the Northern Powerhouse Investment Fund II. This is the fourth deal on which the funds have co-invested in the past year. The company has created the SiSU Health Station, where people can do a self-service digital health check in five minutes that can offer personalised health insights and calculate the risk of chronic conditions such as heart disease and diabetes. Users can then access a companion platform to help them understand their results and find treatment. SiSU’s platform can be integrated with existing healthcare systems. The company says it particularly wants to offer its services in areas of deprivation, or those where access to healthcare services is more limited, so it can “tackle barriers to access for underserved communities”. SiSU Health says it has delivered more than a million health checks to date. It has found that over 70% of platform users have not had a recent blood pressure check, even though high blood pressure is a leading risk factor for cardiovascular disease that can be successfully treated. It has worked on the Department of Health and Social Care-funded CVD (cardiovascular disease) Workforce Health Check Program and itself plans to launch a new public health proposition this year. Samantha Fay, CEO at SiSU Health, said: “We’re building a future where everyone has the tools and confidence to take control of their health — wherever they are. This funding allows us to scale our digital platform, extend our reach into new communities, and strengthen our collaborations and integrations across employer, public health and primary care. Prevention has to be proactive, accessible and data-informed — and that’s exactly what SiSU Health delivers.” Sim Singh-Landa, head of the GMC Life Sciences Fund By Praetura, said: “SiSU Health is bringing health into the modern age by helping individuals to take a health test at a time that’s convenient to them without judgement and the costs that can be associated with health checks. They are critically providing connected collaboration between the corporate world and public health systems, encouraging self-care and health awareness for individuals with supported follow-up and interventions, which has significant benefits for the NHS and public health. “This latest co-investment between the GMC Life Sciences Fund By Praetura and NPIF II also shows the power of two well-established regional funders working together to help propel great companies in the region.” Dr Kath Mackay, chief scientific officer for Bruntwood SciTech, said: “The GMC Life Sciences Fund By Praetura was set up to grow the region’s life sciences footprint to new levels of widespread recognition and give support to innovative businesses like SiSU Health who are tackling challenges like public health and the need to reach underrepresented demographics. We’re looking forward to seeing what the future holds for the SiSU Health team, as they scale the business’s manufacturing and logistics output from right here in the North West.” Sue Barnard, senior investment manager at British Business Bank, said: “A key aim of the Northern Powerhouse Investment Fund II is to invest in businesses that are paving the way in innovation and creating valuable solutions for the people it serves. It’s clear that the UK needs new solutions for healthcare issues and now, with the help of NPIF II funding, another great Northern business has secured the financial support it needs to help make this possible.”

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North cybersecurity specialist Communicate snaps up Blaze Networks

2025-12-07 05:57:11

A North IT consultancy has snapped up a Cheshire business in an undisclosed deal to boost its suite of services. Communicate, which provides cybersecurity and IT network solutions, has acquired Blaze Networks, a security-focused managed service provider with expertise in advanced networking solutions. The deal marks the fifth acquisition for Communicate, which has its network operations centre in Wynyard, Teesside, and its 24/7 security operations centre in Leeds. It also the second transaction since the business secured private equity investment from Rockpool last June, putting it on track to grow its turnover from £6m to £17m in 2025. The company says the acquisition will boost Communicate’s ability to deliver a fully integrated suite of services to its customers. Macclesfield-based Blaze Networks will continue to operate under managing director Ben Brassington. Tony Snaith, CEO of Communicate Technology, said: “Bringing Blaze Networks into the Communicate group significantly strengthens our ability to offer cutting-edge, secure IT solutions. “Their expertise in SD-WAN and SASE complements our existing capabilities, allowing us to provide businesses with seamless, scalable, and highly secure network architectures. This acquisition is not only about expanding our service offering – it’s about creating real value for customers and fostering professional growth for our team as we continue to scale.” Mr Brassington, managing director of Blaze Networks, added: “Joining Communicate presents a fantastic opportunity for Blaze Networks to accelerate its growth while continuing to deliver the high-quality solutions our customers rely on. By integrating with Communicate, we can offer an even more comprehensive service, while also providing our team with exciting new career development opportunities. Having re-invested in the group, I am fully committed to this next phase of expansion.” Rockpool provided additional funding to support the acquisition, with investment director Tom Coey and investment manager Toby Hurdle leading the transaction.

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Raspberry Pi's profits halved in 2024 as stock price tumbles

2025-11-12 02:42:27

Raspberry Pi's pre-tax profit plummeted by 57 per cent over 2024 to a mere $16.3m (£12.6m), as the company grappled with inventory correction issues. The FTSE 250 tech firm disclosed in its annual results that its adjusted operating profit had slipped by 15 per cent to $37.2m (£28.8m), as reported by City AM. Analysts had anticipated this downturn in the company's profit, predicting that the adjusted operating profit would fall within the range of $36m and $38m. The company attributed the steep drop in profit to the expansion of its resource and development expenditures and the heightened administrative costs associated with being a publicly traded entity. However, Raspberry Pi also reported a two per cent decrease in revenue from the previous year, totalling $259.5m (£201m), which was at the lower end of analyst predictions. "Since its IPO in June 2024, the shares of Raspberry Pi have been volatile, first hovering above the listing price of 280p, before shooting up to above 700p in December," observed Deutsche Bank analyst Robert Sanders. Initially, Raspberry Pi's IPO was celebrated as an indication that the London Stock Exchange could be on track for a listing rebound after several challenging years. The stock initially struggled, but in December its fortunes appeared to turn around. The tech company's shares doubled as US hedge funds' interest drove demand for the FTSE 250 company. However, since the start of the year, the stock has declined by 21 per cent. Sanders further commented on the company's current standing: "At the current price, the shares sit on a premium valuation (38 times 2026 earnings), pointing to healthy appetite to believe in the potential of a huge opportunity ahead in edge computing, especially in industrial and embedded markets, which are 72 per cent of Raspberry Pi volumes." The company has accelerated its product launches since going public, with 22 new products introduced in 2024 compared to just six the previous year, indicating an effort to broaden its product range. This trend is also reflected in the firm's staffing, as the proportion of engineers among total employees increased from 44 per cent to 48 per cent last year. Raspberry Pi's CEO, Eben Upton, acknowledged the impact of the IPO, stating: "The IPO in June 2024 has undoubtedly extended awareness of Raspberry Pi's value proposition from the engineering department to the C-suite at major original equipment manufacturers."

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Alacrity Foundation spinout tech firm Lumin Solutions in equity fundraise boost

2025-12-02 04:17:39

A Newport tech start-up that has developed a case management system for use by child social care providers has been boosted with a six figures equity investment. The pre-seed round for Lumin Solutions, which successfully spun out of the Alacrity Foundation entrepreneurship programme, was led by SFC Capital, the Development Bank of Wales and a syndicate of business angels. The company is run by directors Piers Oliphant, 25, Ben Miller, 24, and Ben Gretton, 23. They teamed up at the Alacrity Foundation. Lumin’s innovative software product is an outcome-focused recording and planning system for care providers, many of whom are still predominately paper-based. It offers a digital care assistant that improves user experience and outcomes, reduces costs and improves regulatory compliance with evidence tracking. Key features include care plans, assessments and regular reporting. AI-powered analytics will enable users to analyse their data and records with speed and customisation, offering insights into their organisation and care practices to improve outcomes and prepare for inspections. The funding from SFC, the development bank and the syndicate of business angels led by lead investor Darryl Morton will be used to scale-up product development, sales and marketing. Director Mr Oliphant said: “The UK’S Digital strategy is pushing care providers to adopt digital care recording systems and maintain appropriate records by 2025. With 60% of care providers still paper-based or partly digital, this is a rapidly growing market. “Our technology will help provide local care providers with a data-driven and joined-up approach that has a clear audit trail. This will allow care providers more time to focus on providing quality care, therefore ultimately improving childcare. “The Alacrity Programme has helped us to become investor ready so that we can secure the funding needed to scale our operation but what we are really excited about is being able to access the knowledge and experience of our investors, particularly Darryl who has founded, scaled and exited similar tech businesses.” Lead investor Mr Morton of Summit Venture said: “The child social care market is under-served by quality care management software systems. In a short space of time, the team at Lumin have already developed a core system and have road-tested this with a number of industry partners, and now, with the financial backing from this investment round, are poised to develop the software further and help to raise standards within the sector. It is a really exciting opportunity to be involved with.” Adam Beveridge of SFC Capital said: “One of the biggest challenges for any start-up is securing initial funding. It is credit to the team at Lumin and their commitment to developing innovative software that tackles real-life industry problems, that this pre-seed round has been so successful. We’re pleased to be adding them to our investment portfolio of over 400 start-ups and look forward to supporting them alongside the Development Bank and Darryl as our co-investors.” Hannah Mallen, an investment executive with the Development Bank of Wales, said: “This is a dynamic and enthusiastic team that share a commitment to making a real difference. There is a clear market for Lumin’s people-focussed digital solution as child social care providers recognise how emerging technologies enable early intervention, risk assessment, and improved decision-making in child welfare. We’re delighted to be investing alongside SFC and using our Wales Angel Co-Investment Fund to add real fire power to the investment by Darryl and the syndicate of business angels.”

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Leeds cloud services firm virtualDCS acquired by private equity player MonacoSol

2025-11-23 23:09:20

Cloud computing firm virtualDCS has been acquired by private equity firm MonacoSol, ushering in a new senior management team. The Leeds-based provider of cloud infrastructure and back-up systems will now by led by CEO Alex Wilmot, who succeeds founder Richard May, who has become product development director. Mr Wilmot has previously held senior leadership roles at Ingram Micro, Redcentric and Daisy. Dan Nichols, a co-founder of virtualDCS, has also returned as chief technology officer (CTO) after more than a decade at Sleek Networks, Secura Hosting and WebContractor. And former CTO and fellow co-founder John Murray has become solutions director. Meanwhile Kieran Brady has been appointed chief revenue officer - bringing experience from BT, Capita, Deutsche Telekom, Gamma and Redcentric. The appointments follow MonacoSol's undisclosed deal for a majority stake in the business. Mr Wilmot said: “I’m thrilled to be joining virtualDCS – a business renowned for its expertise in data integrity, data protection, and cyber resilience – at this point in its journey. Its portfolio of services couldn’t be more relevant for organisations looking to protect their data against the growing threats entering the landscape every day. “With MonacoSol’s backing, we’re building on an already exceptional proposition while accelerating our ability to scale. As Richard and John move into their new roles, we’re able to retain their invaluable industry expertise, providing continuity as we move forward at pace.” Mr Nichols added: "We’re a business built on trust, and I want to ensure we continue delivering the level of service our customers expect while broadening our technological capabilities. We’ll be modernising our offerings, expanding our resilience-focused solutions, and working with the right partners to enhance our services."

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UK technology secretary asks AI ChatGPT about businesses and podcasts

2025-11-25 16:38:37

Peter Kyle, the UK's technology secretary, has been utilising ChatGPT, an OpenAI chatbot tool, to ask questions about UK businesses, artificial intelligence (AI), and even podcast recommendations, according to a Freedom of Information (FoI) request submitted by New Scientist magazine. The magazine revealed that Kyle, who heads the Department of Science, Innovation and Technology (DSIT), has regularly used the chatbot in his professional capacity, as reported by City AM. Questions posed by Kyle included why UK small businesses are slow to adopt AI, which podcasts he should appear on to reach a broad audience, and definitions of terms such as antimatter, quantum, and digital inclusion. One data expert suggested to the magazine that DSIT's disclosure could set a "precedent" across government, expressing surprise at the release of the information. Initially, the department declined the FoI request, stating that Kyle's ChatGPT history contained personal prompts and responses. However, the magazine resubmitted the query, requesting only the prompts and responses made in an official capacity. This revelation comes as Prime Minister Sir Keir Starmer delivered a speech on civil service reform, announcing plans to abolish NHS England and emphasising the potential for wider use of AI within government as a "golden opportunity". Sir Keir Starmer has highlighted the potential for digital reform within government, suggesting it could lead to significant savings: "If we push forward with digital reform of government – and we are going to do that – we can make massive savings, £45bn savings in efficiency." The Prime Minister has also advocated for a new approach to government work, stating: "No person's substantive time should be spent on a task where digital or AI can do it better, quicker and to the same high quality and standard." Peter Kyle, meanwhile, has praised the capabilities of technology, sharing with PoliticsHome his use of ChatGPT: "I used ChatGPT to try and understand the broader context where an innovation came from, the people who developed it, the organisations behind them." He further commented on the utility of AI as a learning tool: "ChatGPT is fantastically good, and where there are things that you really struggle to understand in depth, ChatGPT can be a very good tutor for it." In a previous statement to The Times, the minister expressed his views on AI's educational benefits: "AI can tutor you. So for example, I can go into a chatbot and say 'What is quantum mechanics and what are its applications?', and it can come up with a description, it will tutor you." A Freedom of Information (FoI) response shared with New Scientist revealed ChatGPT's insights on why small and medium-sized businesses may be hesitant to adopt AI, listing factors such as "Limited Awareness and Understanding", "Regulatory and Ethical Concerns" and "Lack of Government or Institutional Support". ChatGPT highlighted the challenges faced by small and medium-sized enterprises (SMEs) in adopting new technologies: "While the UK government has launched initiatives to encourage AI adoption, many SMBs are unaware of these programs or find them difficult to navigate." The AI also noted that "Compliance with data protection laws, such as GDPR [a data privacy law], can be a significant hurdle. SMBs may worry about legal and ethical issues associated with using AI." When queried about suitable podcasts for the Secretary of State for Science, Innovation and Technology to appear on, to engage a broader audience relevant to his ministerial duties, ChatGPT recommended The Infinite Monkey Cage and The Naked Scientists, citing their listener numbers. A government spokesperson offered insight into the minister's practices: "As the Cabinet Minister responsible for AI, the secretary of state does make use of this technology. ". The statement continued, emphasizing the consultative approach taken: "This does not substitute comprehensive advice he routinely receives from officials."

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Nvidia loses $273bn in market value as Trump tariffs bite

2025-12-03 11:07:22

Nvidia's shares took a significant hit on Thursday, with an almost eight per cent drop wiping $273bn off its market value. This was triggered by the introduction of steep new tariffs and concerns over potential new export restrictions unsettling the markets, as reported by City AM. The leading chip manufacturer saw its stock close down 7.8 per cent following US President Donald Trump's announcement of comprehensive import duties. Since peaking in January, Nvidia's stock has now plummeted 32 per cent, reducing its market cap to $2.48 trillion from $3.66 trillion. The tariff package includes a standard 10 per cent duty on all imports, along with targeted tariffs of 34 per cent on Chinese goods, 46 per cent on Vietnamese products, and 26 per cent on imports from India. Although semiconductors are currently exempt, investors remain cautious due to the possibility of retaliatory measures and wider supply chain implications. Mary Ann Bartels, Chief Investment Strategist at Sanctuary Wealth, commented: "This was the worst-case scenario for tariffs, and it wasn't priced into the markets". She added: "If the S&P 500 can't hold the 5,500 level, we may be looking at another 5-10 per cent downside." Over half of Nvidia's revenue is generated overseas, and the tech giant's supply chain is heavily linked with Asia-Pacific manufacturing. Specifically, its most advanced chips are manufactured by the Taiwan Semiconductor Manufacturing Company (TSMC). Adding to the pressure, the US is considering imposing new restrictions on Nvidia exports to China – particularly its H20 chip. This model is a lower performance variant, specifically created to align with former export controls. While discussions are still in their initial phase, a potential prohibition of the H20 could severely impact Nvidia's revenue from China, which currently represents about 20% of their overall sales. Bernstein's senior analyst Stacey Rasgon commented on the possibility, arguing that such a decision would be illogical and counterproductive, as it would essentially surrender the burgeoning AI chip market in China to competitors like Huawei. News regarding tariffs sent shockwaves through financial markets. Consequently, the Nasdaq plummeted by 6%, the S&P 500 declined by 4.8%, and the Dow Jones Industrial Average saw a decrease of roughly 4%. It marked the grimmest day on the markets since the initial stages of the Covid-19 outbreak. Market sentiment was further dampened by analysts forecasting an incoming earnings downturn with companies grappling with rising costs and diminishing profits. "Margin expectations for 2025 still look far too optimistic," expressed Charles Swab's chief investment strategist Liz Ann Sonders.

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£5.75m investment for healthcare firm Functional Gut Group as it plans nationwide expansion

2025-12-02 10:29:39

A healthcare firm that helps patients with digestive health issues including irritable bowel syndrome (IBS) has secured a £5.75m investment. Private equity firm Foresight Group is backing Functional Gut Group (FGG), which provides diagnostic testing services to patients suffering with pervasive conditions. FGG was founded in 2014 by gastrointestinal clinical scientist Dr Anthony Hobson. It now operates three permanent clinics in Manchester, Cambridge and London, as well as several collaborative clinics in the UK and Ireland employing 35 people. FGG provided testing for more than 12,000 patients last year across the private sector and the NHS. Its clinics are inspected by the Care Quality Commission and the company says it is “the only independent GI physiology service in the UK to receive an Improving Quality in Physiological Services accreditation”. FGG also operates free online health and education portal Tummy MOT. The company plans to use the Foresight investment to expand to other parts of the UK, to grow its team and to introduce new tests to the market. Experienced healthcare executive, Arif Ahmed, will join the board as chair, while Phil Clarke, formerly at Vein Centre, will join as finance director. Other healthcare companies in Foresight’s portfolio include Clearview Endoscopy Limited, teleradiology provider Hexarad, and Homelink, a provider of “hospital at home” and virtual ward services. Foresight recently announced its exit from Hospital Services Limited and in 2024 exited ABL Health, a community-driven healthcare services provider, saying it generated a 4.1x return on investment. Dr. Anthony Hobson, CEO and founder of FGG, said: "It was key to find an investment partner that shared FGG’s ethos and understood the immense opportunity available to us. All of us at FGG feel that we have found that in Foresight, and are excited about the potential to improve healthcare outcomes in the years to come." Samir Rea, investment manager at Foresight Group, said: "FGG provides a valuable service, improving the lives of thousands of private and NHS patients through its innovative diagnostic testing methods. Anthony and his team have already developed an excellent reputation in the market, and we look forward to supporting them in their next chapter of growth."

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Fintel grows revenue and earnings on the back of acquisitions

2025-12-02 08:30:54

Tech provider to the financial services industry Fintel says it has made a positive start to the year following a rise in revenues and earnings on the back of an acquisition spree. The Huddersfield-based plc, which owns a number of brands including defaqto and simplybiz, saw statutory revenue climb 20.6% to £78.3m in 2024, while adjusted operating profits in the same year reached £18.7m, up from £16.9m. Meanwhile core revenue figures - which exclude panel management and surveying activities - were up 21.9% to £68.9m. It also pointed to 17% growth in core SaaS and subscription revenue to £44.1m. Fintel chair Phil Smith noted further volatility in the UK market, caused by global instabilities; "landmark" changes in the UK regulatory environment; and major events such as the Labour Government's first UK budget. But despite the challenging domestic and international backdrop, he expected the UK financial services sector to continue offering growth opportunities - crucially in the technology and data analytics sub-sectors, as well as anticipation of a resurgence in the mortgage market. Growth at Fintel has been underpinned by a series of eight acquisitions since summer 2023, including a number last year in Owen James, Synaptic Software, ifadash, Mortgage Brain and Threesixty Services. It also acquired fund ratings and research agency Rayner Spencer Mills Research Limited in January this year. Overall, the group spent £31.7m and now expects those businesses to contribute to growth in 2025. Matt Timmins, joint CEO of Fintel, said the business had started 2025 well, bringing in new customers. He said: "2024 has been a seminal year for Fintel, marked by continued strategic advancements and strong financial performance. The company has delivered robust results, with complementary acquisitions contributing to substantial growth in SaaS and subscription-based revenues. "We have expanded the Fintel group by welcoming four new businesses in 2024, with the previously announced acquisition of RSMR successfully completing in January 2025. These strategic acquisitions, combined with ongoing investments in our proprietary technology and data solutions, have enhanced our intellectual property, scale, and market presence, laying the foundation for sustained organic growth."

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Microsoft slashes 200 jobs in the UK as sales near £10bn in 2024

2025-11-15 02:37:54

Microsoft has trimmed its UK workforce by over 200 positions despite a turnover leap to nearly £10bn, recent disclosures have unveiled. The American tech behemoth saw its employee numbers dwindle from 5,540 to 5,337 in the year ending 30 June, 2024, according to the latest filings at Companies House, as reported by City AM. This headcount reduction follows a period of growth where Microsoft's staff numbers rose from 4,955 in the preceding year. Furthermore, the financial statements reveal that the company's turnover soared from £8.38bn to £9.62bn within the same timeframe, with pre-tax profits also climbing from £652m to £756.4m. Despite this significant uptick in sales and profit, Microsoft opted not to declare a dividend for the year, contrasting with the previous year's £150m payout. While Microsoft's product-related turnover dipped from £1.67bn to £1.51bn, its revenue from services and other segments surged from £6.70bn to £8.11bn. These revelations follow on the heels of Microsoft's $13bn (£11bn) collaboration with OpenAI getting the green light from the UK's Competition and Markets Authority (CMA) just last month. The antitrust body concluded that Microsoft's investment did not trigger the criteria for an extensive merger probe, despite some trepidation regarding the tech titan's sway over the AI startup. The CMA recognised that Microsoft had secured "material influence" over OpenAI via its initial 2019 stake. Nevertheless, it judged that Microsoft had stopped short of acquiring "de facto control," implying it wasn't effectively in charge or steering the startup's strategic choices. Last month, Microsoft warned of a widening gap between UK leaders who utilise AI and those who don't, suggesting that this could jeopardise the country's economic potential and public service efficiency. According to a report from Microsoft, organisations with clear AI strategies are significantly outperforming those without, underlining the pressing need for wider adoption of AI-driven technologies. The tech behemoth cautioned that only half of UK organisations have crafted AI strategies and acquired the necessary skills for implementation. Conversely, the other half is stuck in a rut, lacking formal AI plans and struggling to turn AI aspirations into reality. In June last year, Microsoft announced it was closer to constructing a 'hyperscale' data centre near Leeds after purchasing a 48-acre site from British property developer Harworth Group.

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Researchers at Swansea University in major semiconductor breakthrough

2025-11-29 17:22:15

Swansea University have made a significant breakthrough in semiconductor research by establishing the first four inch thin film gallium oxide capability in the UK. This is a type of next generation semiconductor material that can more efficiently support the high voltages, power densities, and frequencies required for applications in electric vehicles, renewable energy sources, and 5G communications. The breakdown, has come via its Centre for Integrated Semiconductor Materials (CISM). The eignificant milestone is key to the development of more efficient, compact, and cost-effective electronic devices, and also demonstrates the increasing semiconductor manufacturing and innovation capabilities of the South Wales advanced semiconductor cluster CSconnected with globally leading semiconductor manufacturing companies such as Vishay, KLA, Microchip and IQE. The achievement comes after a recent £250m investment by US firm Vishay Intertechnlogy, supported by the UK Government’s Automotive Transformation Fund, at its Newport plant which will dramatically expand advanced wide band gap power semiconductor component manufacturing. Over the next few years Vishay plans to take investment at its Newport facility to £1bn and create hundreds of high-skilled jobs. The advancement achieved at Swansea University was througha newly commissioned AIXTRON close-coupled showerhead deposition system, that can precisely produce or ‘grow’ high-quality crystalline thin film gallium oxide on four inch substrates, known as wafers. The capability is housed in the new Oxide and Chalcogenide Metalorganic Chemical Vapor Deposition (MOCVD) Laboratory at CISM, which is now set to become a national hub for thin film gallium oxide research. Professor John Heffernan of the National Epitaxy Facility, which supports semiconductor research in UK universities, said:“Swansea University’s MOCVD capability is now accessible to researchers through direct collaboration. Researchers can also gain access to feasibility studies through Swansea partnering with the UK National Epitaxy Facility’s pump priming scheme. This initiative ensures that academic and industrial partners can leverage Swansea’s expertise in epitaxial thin film growth to accelerate their research and technology development.’ Dr Dan Lamb, research lead at the Oxide and Chalcogenide MOCVD Centre at Swansea University said: "This new facility represents a major step forward for our research, and I’m incredibly excited about the possibilities it unlocks for novel materials and device development. With this advanced equipment, we can push the boundaries of our existing work while also creating new opportunities for collaboration with research groups across the UK and beyond.” Sam Evans, director of quality assurance and external affairs, Vishay Newport, said:“This is a major step forward for wide band gap materials innovation in our South Wales semiconductor cluster, underpinning efforts to grow regional manufacturing in advanced power electronics such as our recent annoucement of a £250m investment in SiC (silicon carbide) component expansion.” First Minister Eluned Morgan, said:“Compound semiconductors are small but vital bits of our everyday lives and Wales is leading the way in their production and manufacture. “I welcome the additional investment from the UK Government, which builds on the Welsh Government’s work over the last decade in supporting the growth of the semiconductor cluster. We are now reaping the rewards of our commitment, which we will continue to drive forward.” Mary Ann Brocklesby, leader of Monmouthshire Council and chair of Cardiff Capital Region, said: “This significant investment into the South East Wales compound semiconductor sector displays great confidence and shows the value of investment in the region. “We welcome the news of this investment to develop the cluster, which has been a priority of Cardiff Capital Region, Welsh and UK Governments for several years. “It is tremendous to see the benefits this will bring to the region in creating highly skilled jobs, accelerating our progress in the UK Automotive industry, and positioning us as a competitor in not only UK investment, but also globally.”

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Google axes jobs as it looks to save money across Android, Pixel and Chrome teams

2025-12-06 07:12:52

Google has confirmed the dismissal of staff from within its platforms and devices division, responsible for products like Android, Pixel hardware, and the Chrome browser – signalling a continuous drive to streamline the business and cut costs. The cuts were first made public last Friday by The Information, following a January move by the company that provided employees with an option for voluntary departure, as reported by City AM. In a statement, a Google spokesperson acknowledged the layoffs as part of the tech behemoth's ongoing restructuring, which began after last year's merger of the Android software and hardware teams to enhance operational efficiency. "Since combining the platforms and devices teams last year we've focused on being more nimble and operating more effectively," they commented. This news surfaces amid escalating uncertainty in the technology sector, compounded by new US tariffs on Chinese goods predicted to strain supply chains and push up production costs for gadget manufacturers. With many of its Pixel devices assembled in Asia, Google is facing increasing challenges to overhaul its production strategies in response to these changes. These cutbacks align with parent corporation Alphabet's broader strategy to reduce expenditures. In 2023, it made significant job cuts, terminating around six percent of its global workforce, owing to economic challenges and a refocused approach on essential business areas. More recently, in February, Google disclosed additional specific reductions within its cloud operation, although this impacted just a limited number of teams. Google is among many other leading tech firms currently bracing for a tighter economic environment.

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Data specialist founded ‘over pizza and beers’ wins investment from DSW Ventures

2025-11-11 14:28:11

An AI- powered software firm founded “over pizza and beers” has won an investment from the venture capital arm of professional services group Dow Schofield Watts. DSW Ventures is making a pre-seed investment of £415,000 into Manchester-based Fireflai, which aims to help its clients to analyse and understand “fragmented and inconsistent product data”. Fireflai was founded by Tom Gardner and Craig Sumner and works with manufacturers, distributors and retailers who need to bring together product data from many different sources, systems and supplies. Its technology uses “advanced data science and AI” to bring each customer’s fragmented information together into one single comprehensive dataset. Mr Gardner cofounded Robiquity, a successful automation consultancy bought-out by Growth Capital Partners, while digital process transformation specialist Mr Sumner has led Fireflai’s development of its core platform. Laura Malins, former chief product officer of Manchester unicorn Matillion, works with the team on a non-executive basis. Tom Garder, CEO of Fireflai, said: “This investment marks a huge milestone for me personally and for our business. Craig and I started the business over pizza and beers in 2023, and it’s great to see our vision come to fruition and very quickly add real value to our clients. “DSW Ventures has worked incredibly closely with us on developing our business plan, refining our product strategy and developing our team. We are extremely excited about the next chapter for Fireflai – building on our early promise to create yet another successful Manchester technology company.” Keith Benson, partner at DSW Ventures, said: “Fireflai’s blend of commercial and product expertise, alongside a compelling customer proposition, immediately stood out to us. We are very confident that Fireflai’s will transform how product-centric companies will manage their data, addressing a critical pain point. We would like to congratulate Tom, Craig and their team – it’s been a privilege to work with them on this investment.”

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TSG acquires Computer Geeks to expand South West presence

2025-12-07 10:15:18

Tyneside IT firm Technology Services Group (TSG) has acquired Bristol-based Computer Geeks in its second deal of the last six months. The Gateshead-based Microsoft Partner, which provides computing and AI services, said the move boosts its managed services platform, cyber security offer, and will boost its presence further in the South West. Computer Geeks' staff will now join the TSG team. The business was set up in 2008 and is said to be a well-establish managed service provider with a focus on the Microsoft ecosystem within the cloud, workplace and security. TSG already has clients and employees in the South West, the acquisition now provides a hub in addition to offices in Glasgow, Newcastle, London, and Aylesbury. Rory McKeand, CEO of TSG, said: "We are thrilled to have Computer Geeks join TSG. During our due diligence, we found that the brilliant teams are considered trusted advisors by their clients. Like us, they have a world class net promoter score, and our values align with helping ambitious businesses. "Computer Geeks is a high-quality modern Microsoft cloud and modern workplace provider that is secure by design. The company became one of a handful of IT companies in its region to achieve National Cyber Security Centre Assured Service Provider status, the endorsement is a testament to Computer Geeks’ passion and expertise in cyber security protection. "We are excited to welcome Nick Richards, the managing director, and Rob Eeuwens, the technical director of Computer Geeks to TSG. They are both ambitious guys and are a fantastic addition with their wealth of experience and industry knowledge. With similar culture and values, merging with Computer Geeks feels like a natural move.” Nick Richards, managing director of Computer Geeks, added: "We've found an excellent new home for the business and have been really impressed with TSG in all of our dealings so far. We can see clear similarities with our already existing solutions, as well as a portfolio of new services that might benefit our clients. "TSG and Computer Geeks share the same values, employ like-minded individuals and are focused on client satisfaction. TSG adds a Microsoft Dynamics practice to the mix, and other benefits like the TSG Academy, which will be seriously helpful for all who check it out. As part of TSG, I am looking forward to ensuring a smooth transition and integration - our clients can be reassured that I will be working tirelessly to ensure this goes well."

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Welsh tech venture gets regulatory approval for in space advanced manufacturing satellite

2025-11-30 08:46:54

Cardiff-based venture Space Forge has secured regulatory approval to launch its pioneering satellite manufacturing next-generation super materials and advanced semiconductors in space. The start-up has secured the first UK licence for in-space advanced manufacturing (ISAM) from the Civil Aviation Authority with its ForgeStar-1 satellite set to launch later this year. This follows the ill-fated launch of the ForgeStar-0 on the aborted Virgin Orbit mission in 2023 from the Newquay spaceport in Cornwall. Space Forge’s demonstration of ForgeStar-1 will mark its next step in establishing a scalable, returnable, and re-launchable platform for manufacturing high-performance semiconductor materials in space, which could reduce manufacturing emissions by 75%. By harnessing the unique conditions of space - including microgravity, vacuum, and extreme temperature differentials - it is seeking to unlock the ability to manufacture materials that are impossible to produce on earth. These advancements have wide-reaching applications in semiconductors, quantum computing, clean energy, and defence technologies. Research suggests that manufacturing these materials in space could reduce Co2 emissions by 75% in high-value infrastructure - delivering breakthroughs in security, defence, and climate-focused innovation. ForgeStar-1 will also test the mechanics of the Pridwen shield - Space Forge’s innovative heat shield designed to facilitate safe, reusable satellite re-entry. Joshua Western, chief executive and co-founder of Space Forge, said: “This licence award is a key mission milestone and we’re looking forward to demonstrating how our scalable, reusable manufacturing platform can drive progress and benefits for us on earth. Space Forge is breaking new ground being the first UK company to achieve a licence for in-orbit manufacturing.” The ForgeStar-1 mission will validate the ForgeStar platform’s capability to deliver high-value materials from space while demonstrating key technologies essential for the future of in-orbit manufacturing.” Colin Macleod, head of the UK space regulator at the UK Civil Aviation Authority said: “This is a ground breaking licence for the UK space sector that paves the way for in orbit manufacturing and the amazing potential of this new industry. “Through our work with innovators in the space sector we are enabling exciting new space missions and supporting the industry to grow.” Science and Technology Secretary Peter Kyle said: “Space Forge’s license is another resounding vote of confidence in the UK’s space sector, which has secured record levels of investment through the European Space Agency in the last quarter of 2024.

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UK's ultrafast broadband expansion set to reach 96% of homes by 2027, Ofcom reports

2025-11-21 00:53:25

The UK's ultrafast broadband roll-out is entering its "final phase" and could reach nearly all homes by 2027, according to Ofcom. The industry regulator revealed that data from telecoms firms suggests 96 per cent of homes and businesses would have access to full-fibre by 2027 with the right investment and regulation, as reported by City AM. The UK has experienced one of Europe's fastest roll-outs due to billion-pound investments and regulatory changes. Currently, around 69 per cent, or 20.7m premises, have access to full fibre, while gigabit-capable network coverage surged over 40 per cent to 25m last year. On Thursday, Ofcom announced proposals it believes will enable the UK to achieve the 2027 target. These include fostering competition between broadband networks and strengthening rules around Openreach's wholesale deals and discounts to prevent it from "unfairly stifling" growth. Openreach, a BT Group subsidiary, is responsible for building and maintaining the UK's primary telecoms network infrastructure. Ofcom also proposed increased investment in Openreach's rural network, which has significantly lagged in fibre coverage. Under the plans, Openreach will face stricter oversight on pricing. The regulator intends to cap the nominal price that Openreach can charge its retail providers, such as Sky or TalkTalk, for downloads up to a certain speed. However, the statement also mentioned that Openreach should avoid unnecessary costs by running two networks simultaneously, as it supports the shift from old "copper lines to fibre." Natalie Black, Ofcom's Group Director for Networks and Communications, commented on the progress: "The roll out of full fibre across the UK is a British infrastructure success story," and "Four years ago, less than a quarter of UK homes and offices had access, and it now stands at nearly seven in 10. But we do not take this momentum for granted and today, we are setting out how we can work with the sector to finish the job."

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British fintech unicorn OakNorth snaps up US community bank in overseas push

2025-11-26 07:44:21

OakNorth, the UK-based digital banking unicorn, has announced its acquisition of a US community bank as part of its international expansion strategy. The company confirmed on Monday that it had agreed to a stock-for-stock transaction with Michigan's Community Unity Bank (CUB), subject to regulatory approval, as reported by City AM. This follows the Federal Reserve and New York State Department of Financial Services granting OakNorth authorisation for a Representative Office in New York. Launched in 2015 and chaired by former City watchdog chair Lord Turner, the bank serves the "missing middle" – growing businesses typically with a turnover between £1m and £100m. In 2024, the lender's profits reached £215m after surpassing £12bn in total lending. Rishi Khosla, OakNorth's co-founder and CEO, said: "As a founder-led business built by entrepreneurs, CUB appealed to us as it shares a lot of our same values with regards to customer experience." He added that these values are reflected in its customer feedback and strong company culture. Khosla also noted that demand from US borrowers continues to grow and the firm's "differentiated offering and unique approach" have paved the way for a strong presence in the US market. He revealed that lending had nearly tripled initial expectations due to US activity. Community Unity Bank's chief executive Greg Wernette stated: "CUB was formed by bringing together entrepreneurs from around Oakland County with diverse backgrounds to meet a growing need for small business banking." "As business owners and executives, we know that access to capital means everything, and CUB was started to meet that need, assembling a team experienced at lending during both up cycles and down cycles."

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'Milestone' performance for Bristol tech company despite market challenges

2025-12-08 13:35:24

Bristol-headquartered education technology business Tribal says it is set for "sustained growth" in 2025 despite market challenges. The AIM-listed software company saw group revenue rise 6% to £90m for the year ending December 31, 2024, while adjusted EBITDA - a measure of performance - increased by 17.8% to £16.7m. Statutory Profit before tax for the year decreased to £5.9m from £6.4m constant currency in 2023 as higher EBITDA performance was offset by increased exceptional costs. Net debt for the period stood at £3.2m - down from £7.2m the year previously. Mark Pickett, the firm's chief executive, said the company's performance was "a milestone" in the transformation of the group into an edtech software-as-a-service (SaaS) business. "With strong, long-term customer relationships and increasing cloud adoption, we are set for sustained growth in our core business," he said. "Despite market challenges, we delivered revenue and EBITDA higher than expectations, significantly reduced debt, and saw impressive ARR growth. Looking ahead, we are focused on optimising our operations and driving continued growth and increasing cash flow generation." Tribal said on Thursday (March 27) it was confident of achieving results in line with the board's expectations for FY25. The company has proposed an annual dividend of 0.65p per share, which is expected to be paid at the end of July. Together with the interim dividend of 0.65p per share paid in November 2024, the total FY24 dividend is expected to be 1.3p per share. Tribal added that it had a "continued focus" on operational efficiency and organisational structure to support the group's SaaS ambitions. The business implemented a cost reduction programme in 2024 to support group profit margins through the transition to SaaS, it said, reducing full-time equivalent headcount in SIS by 59, a 9.1% reduction year-on-year.

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UK government explores tech tax changes to avert US tariffs, Reeves confirms

2025-11-29 20:35:47

The UK government is assessing possible modifications to its digital services tax (DST) in an effort to prevent additional tariffs from the US, as disclosed by Rachel Reeves. Since being introduced in 2020, the DST, which levies global tech giants such as Meta, Google, and Amazon, has generated approximately £800m annually, as reported by City AM. However, with President Donald Trump expected to declare new tariffs on the 2nd April, the UK is said to be considering altering the tax in return for being exempted from the duties that Trump has warned he would impose on many of the UK's trade allies. Discussing the issue, Reeves stated: "We need to get the balance right. We don't want British exporters facing higher tariffs." She further noted that the UK would persist in ensuring that tech companies are taxed where they are operating while striving to uphold equitable trade ties with the US. Nevertheless, this proposal has been met with harsh criticism. Liberal Democrat leader Sir Ed Davey blasted the notion of adapting UK tax policy to mollify Trump at his party's spring conference in Harrogate. Davey cautioned: "Changing the UK's tax policy to appease Donald Trump and Elon Musk is a dangerous path. Appeasement never works with bullies, and it doesn't work with Trump. Look at what he's already done with British steel tariffs". His observations echo mounting apprehension that Labour's stance towards Trump might erode the UK's capacity to maintain its fiscal sovereignty. "Now Labour's even talking about scrapping Britain's tax on social media giants", Davey continued. While Labour representatives, including Reeves, have not dismissed the possibility of altering the DST to secure advantageous trade conditions, the opposition contends that such compromises could result in long-term damage.

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SkinBioTherapeutics on firmer footing after acquisitions boost revenues

2025-11-16 12:03:26

Skin health innovator SkinBioTherapeutics is focussing on the launch of a new product in partnership with chemicals firm Croda as it reports a jump in revenue. The Newcastle-based life sciences firm says it has grown revenues to £1.58m and narrowed losses by 25% to £1.04m in the six months to the end of September, as it made a number of mergers and acquisitions to drive growth. The 10-year-old firm is poised to launch its SkinBiotix lysate product at a major cosmetics show in Amsterdam next month, having carried out successful trials with Croda - which makes ingredients for some of the world's biggest consumer brands. Shareholders are likely to see the impact of the work with Croda in the firm's full year end results, but bosses say the firm is already in a much stronger financial position thanks to two acquisitions in the past year. SkinBioTherapeutics bought St Ives-based Dermatonics in January last year, followed by Bio-Tech Solutions Ltd (BTS) in October. Together, the deals have boosted the Newcastle business' expertise and headcount. In the case of BTS, there was said to have been strong revenue increase since the acquisition. Directors say they are continuing the merger and acquisition strategy with an eye out for targets that could bring significant revenue and profit growth. Stuart Ashman, CEO of SkinBioTherapeutics plc, said: "Last year represented a drive for growth through the original corporate platform plus the acquisition of value-added businesses (the M&A strategy) to bring scale and synergies. The commercialisation by Croda of the SkinBiotix lysate has begun and we look forward to sharing the marketing information with shareholders upon its official launch in April. "AxisBiotix, targeting symptoms of psoriasis, continues to have a strong customer retention and we are focused on finding the best commercial form for our acne product, which received very positive feedback in the company's consumer study. "We also completed our second acquisition of the manufacturing and packaging company, BTS. The team's expertise in the health, hygiene and personal care products provides not only new sources of revenue and cash, but also offers an opportunity as a future development platform for our own topical products. With our first acquisition Dermatonics, integration is now complete and we are seeing traction for sales via the Umesh Modi Group partnership.

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Opencast misses £3.4m revenues following closure of partner start-up Swarm Energy

2025-11-12 07:56:46

New documents show more than £3.4m in lost revenue for Newcastle tech firm Opencast following the closure of a promising energy management start-up. Swarm Energy's six employees were made redundant in December last year, and the company closed down in January, having only launched in 2023. Its mission had been to develop a system which changed the way people buy, generate and use energy in their homes, with initial customers based in the North East. But difficulties in securing investment in 2024 led to board level changes and plans to change the organisational structure of the business to cut costs and boost sales. Ultimately no investment was found and the business was closed before being liquidated. Now, papers show Hoults Yard neighbour Opencast - which had partnered with Swarm Energy to develop its technology - has missed out on £3.4m of revenue following the closure. That forms part of a £3.8m estimated sum owed to creditors. In 2023 Opencast said it had committed a team of 14 staff, including developers, solutions architects, accessibility designers and user researchers, to Swarm, in a bid to accelerate progress. It said its backing of Swarm would help to get it to market faster and allow both companies to share in any future success. Tom Lawson, Opencast chief executive, said: "At Opencast we were excited to support Swarm's ambition for change in the home energy market by developing an innovative product with green technology at its heart. The start-up had the potential to make a positive impact on the environment and create new green jobs in the North East economy. "We deployed a group of Opencast specialists to work with Swarm's team on developing its technology, allowing its in-house team to focus on getting the new product out to market. At the time we had capacity in the business and were able to deploy people who were not allocated on other projects to work with Swarm. "The £3.4m figure Swarm submitted to Companies House covers the revenue that Opencast would have realised on our commercial rates over a period from July 2023 to late 2024. To protect Opencast's investment the two companies agreed that, until we were repaid, we would own the intellectual property of the technology that we created for Swarm. "We're sad that Swarm was unable to gain the traction in the market to bring in the funding the business needed. It is a financial reality that most UK start-ups don't survive past their first few years. Swarm is unfortunately one of the start-ups that didn't make it. We wish Swarm's founders Anthony Piggott and Dan Martin, as well as the rest of their team, the best of luck with whatever comes next."

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UK tech sector falls out of top 10 as emerging superpowers take the lead

2025-11-23 23:35:39

The UK has fallen behind in the global tech race, now ranking 13th for tech competitiveness and trailing countries such as Ireland, Singapore and Australia. A new global index has revealed that not a single G7 nation – which includes the UK as one of the world's most industrialised nations – is in the top 10, signalling a concerning trend for Western economies traditionally viewed as leaders in technology. The Global STEM competitive index, produced by STEM consultancy SThree and the Centre for Economics and Business Research (Cebr), points to several factors that have hindered the UK's tech stature. Despite London's status as a top European tech hub, the country's overall position has been compromised by significant underinvestment in crucial sectors, as reported by City AM. The inability to scale domestic startups and a shortage of tech talent are also impeding the UK's technological advancement. Tech authority and ex-government advisor Dr Sue Black OBE has called on the UK to "double down on fostering a tech positive culture before it is too late." She advocates for a nurturing entrepreneurial ecosystem that supports the UK in realising its full potential through a "tech-positive culture, championing investment, and providing long term policy stability." However, there are still positives. The UK ranks sixth in both high-tech exports and computer science university standings, indicating areas of strength within the sector. Universities such as Oxford, Cambridge and Imperial College London are globally renowned for their exceptional tech research contributions. The global tech scene, once dominated by the UK and its G7 counterparts, now tells a different story. Singapore, Australia and Ireland have surged ahead, outperforming the UK and other Western countries in crucial areas like education and investment in future tech. East Asian economies, notably South Korea, Japan and Singapore, are making significant strides in AI and deep tech, leading the way in AI patent filings. In contrast, the UK's AI sector has been hindered by funding shortfalls and regulatory uncertainty, with top talent and startups increasingly eyeing the US for better opportunities. This shift has already had a profound impact. The Wall Street sell-off of major US tech giants, which saw the 'magnificent seven' tech titans lose over $1tr in value due to Chinese AI-bot Deepseek, sent shockwaves through global markets. The ripple effects were felt by European tech companies like Germany's Infineon Technologies and Japan's SoftBank. The UK's tech sector, often dependent on US investment and partnerships, has also experienced the pinch. The UK government has expressed its ambition to position Britain as a global leader in tech and AI. Chancellor Rachel Reeves has pledged to support tech startups and boost private investment in innovation. However, industry experts caution that policy measures alone may not suffice. SThree's chief executive, Timo Lehne, highlighted the rankings as a "clear warning sign" for the UK and its fellow G7 countries. "Once the global epicentre for innovation, these countries are now facing stiff competition from emerging tech hubs. The challenge is no longer just maintaining their position, but ensuring they lead the charge in fostering innovation and nurturing the businesses that will drive the future of global technology."

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Losses narrow at tech firm Cirata in move from 'rescue to recovery'

2025-11-12 19:39:40

Revenues have risen and losses have narrowed at Yorkshire tech firm Cirata following a transformational year which saw it move “from rescue to recovery”, its CEO has declared. Stephen Kelly, who was brought in to rescue the Sheffield business in 202,3 said the jouney with Cirata has “often been gruelling, with many unplanned and negative surprises” and has “not been for the faint hearted”, but he said that the 2024 financial year finally saw the legacy issues subside, allowing management to concentrate on growth strategies. In figures released to shareholders, the company – which also has offices in Newcastle, Belfast, California, China and Japan – said it delivered total bookings of $7.1m, broadly flat on the prior year’s $7.2m, but the firm said the bookings had improving quality and a shift to Data Integration (DI), which management expects to lead to growth in future bookings. Highlights included 13 new contract signings in the final quarter, with six focused on DI. Revenues for 2024 rose from $6.7m to $7.7m, while the previous year’s Ebitda loss of $24.2m was narrowed to $13.5m. Operating losses narrowed from $32.4m to $15m. The year also saw improved engagement with both customers and partners, with major wins in the period included a $2m Live Data Migrator (LDM) contract with a top three US bank for a one-year term, the biggest deal of its kind to date. Looking ahead, the firm said it expects improvements in the levels of sales activity and execution, both directly and through its partners, and expects the acquisition of new customers to be an “improving source of future growth” as it moves through the current financial year. The business added that its goal to achieve cash flow breakeven remains unchanged, supported by ongoing improvements. Mr Kelly said: “2024 was a transitional year for Cirata as we moved from ‘rescue’ to ‘recovery’, stabilizing the business to prepare for growth. We have reduced our cost base by roughly two-thirds since the peak in early FY23. Our efforts in restructuring the organisation, strengthening governance and enhancing cultural accountability have delivered tangible results, including the largest LDM Original Equipment Manufacturer implementation in our history with our partner IBM. “While challenges remain and stronger execution is required, the focus for FY25 is clearly on growth and a pivotal year for establishing Cirata as a consistent growth company. The foundations we have put in place and the progress we have made, affirm Cirata’s potential as a leader in enterprise data solutions. “As I chronicled last year, FY23 was a rescue year for a broken company. FY24 was a year of building foundations, regaining trust and confronting the legacy challenges that hampered Cirata’s potential. Rescuing and building a company back from FY23 from the ground up has been a demanding journey for the management team. We understand the sentiment of demoralised colleagues, customers, partners and investors who understandably felt extremely let down, given the $250m capital raised since the Company’s IPO. “As we move into FY25, I am pleased to report that last year’s extensive restructuring, cultural renewal and operational focus are beginning to bear fruit. While we are only part way through our journey, we are no longer defined by past struggles but are shaped by future opportunities. Our focus for FY25 will be on transitioning to a more predictable growth phase, scaling operations, striving for continued high growth in Data Integration, achieving cash flow break-even and avoiding seeking further working capital. “We believe Cirata’s technology occupies a unique position in the market, enabling enterprises to harness the power of data for transformative insights, analytics and Gen AI applications. As AI adoption accelerates and the need for seamless data integration grows, Cirata’s platform is more relevant than ever. “Cirata has not been for the faint-hearted. As a British tech battler on the global stage, especially aspiring to be strong in the US market, the Company has to punch above its weight. Building a growth company from the wreckage of a broken company has been challenging and has tested us all. “The path ahead will not be linear, but it is clear. We are energized, focused, and committed to making FY25 the year Cirata continues to turn a corner and stake its position as a leader in data innovation.”

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ASA clears Three over 'misleading' iPhone 16 Pro ads after Vodafone complaint

2025-11-28 19:43:54

The Advertising Standards Authority (ASA) has ruled in favour of Three UK, dismissing Vodafone's claim that the mobile operator's advertisements for its iPhone 16 Pro deal were misleading. Vodafone had contended that the telecom competitor's assertion of providing 'The UK's best value unlimited iPhone deal' could potentially mislead customers into believing it was based on more than just cost, including aspects such as network coverage, trade-in options and warranties, as reported by City AM. However, after scrutinising the ads, the ASA determined that Three had clearly outlined the basis of its claim and did not violate any advertising regulations. The ruling analysed four ads promoting Three's iPhone 16 Pro offer across national newspapers, Meta, and its website. Each advertisement stated that customers could receive a discount on the iPhone by trading in an old one, with smaller print clarifying that Three's price was the lowest combined deal. Vodafone contested the ads on the grounds that 'best value' implied more than just the lowest price. However, the ASA disagreed, stating that customers would interpret the claim in the context of the ads, which were clearly centred on price and included direct comparisons with rival networks. The watchdog observed that a pricing breakdown always followed the phrase and that consumers would likely understand 'best value' to mean lowest cost, rather than quality. Three defended its ads by referring to its comparison page, which detailed what the ads referenced. The company contended that consumers would not interpret the claim as referring to network performance, trade-in options, or extra services, especially given the ads' strong focus on price. The Advertising Standards Authority (ASA) concurred with the telecommunications giant, determining that the advertisements were "unlikely to mislead" due to their clear communication regarding the 'best value' assertion. In the realm of telecoms advertising, misleading promotions have been under heightened scrutiny by regulatory bodies, particularly concerning claims of 'best value' and clarity in pricing. The ASA has, over recent years, resolved several complaints against various broadband and mobile operators, including BT and Virgin Media, for overstated speed assertions and ambiguous pricing structures. Previously in 2023, the ASA called out Three for an advertisement touting 'unlimited' mobile data without adequately disclosing potential speed limitations under certain conditions. Broadband firms have also faced criticism for not transparently indicating price hikes and contractual details in their marketing materials. Starting from January, Ofcom has mandated that any future inflation-related price increases must be explicitly stated within a customer's contract at the point of purchase.

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Nvidia, Apple, and Tesla stocks soar as Trump halts new tariffs, offering respite to tech giants

2025-11-12 05:10:32

The so-called 'magnificent seven' tech stocks, including Nvidia, Apple, Tesla, and Microsoft, added more than $1.8tr in market value on Wednesday after an unexpected pause in new tariffs by Donald Trump, providing a rare moment of relief amidst an escalating trade war that had unsettled big tech. Shares of these tech giants surged between eight and 19 per cent – with Nvidia alone gaining over $440bn in value, as reported by City AM. This rally propelled the Nasdaq to a historic 12.2 per cent jump – its biggest one-day gain since January 2001 – while the S&P rose 9.5 per cent. In other developments, the Dow increased nearly eight per cent. The US tech sector had been impacted by recently imposed global tariffs from Donald Trump's aggressive trade policies earlier this week. Starting with an initial unilateral 10 per cent tariff on a wide array of goods, Trump's announcement triggered severe market reactions. Moreover, it erased billions of dollars off the market value of the Magnificent Seven tech giants in just a few days. Within two days, these firms collectively lost over $1.8 trillion in market value. The Nasdaq composite posted its worst weekly performance since the onset of the pandemic, and officially entered a bear market. Nvidia and Tesla led the sell-off, with shares of both dropping by over six per cent. These firms, with extensive supply chains in Asia, are particularly vulnerable to the tariff hikes. Apple, the tech giant boasting the title of the world's most valuable company, experienced a sharp decline in its market value as shares fell over six per cent as trading commenced on Monday. "Big tech's AI ambitions require enormous capex, cross border talent, and complex hardware dependencies," commented Michael Ashley Schulman from Running Point Capital. "Tariff and trade clarity are critical to removing layers of uncertainty from budgeting decisions." In what could be considered a breath of fresh air for the big tech industry, the recent reversal in tariffs indicated a significant change in stance from former President Trump, who declared a 90-day moratorium on most new tariffs alongside introducing a significantly reduced reciprocal rate of 10 percent levied on imports from numerous countries. Come Wednesday, Alphabet, Google's parent company, publicly confirmed its commitment to invest $75bn in expanding data centres – an act reflecting a strong belief in their competitive edge within the AI sector despite the unpredictability of international policies. Tesla's performance, albeit down over 28 percent for the year, saw a remarkable uplift, skyrocketing by up to 23 percent during intra-day trading. Other tech behemoths also fared well with Apple recording a rise of over 15 percent and Microsoft inching upwards by 10 percent. On the retail front, US shoppers appeared to scramble for Chinese-manufactured electronics, spurred by concerns over potential price surges. Apple's physical retail outlets registered an increase in customer flow, with one staff member relaying to Bloomberg: "almost every customer asked me if prices were going to go up soon." "For the tech stocks this was much needed relief and pulls stocks and the market from the edge of the cliff," remarked Dan Ives, an analyst at Wedbush Securities. "Although China remains the biggest X factor, especially for Apple and the broader supply chain." Despite this mild reprieve for technology equities, the White House has concurrently hiked tariffs on Chinese goods from 104 percent to 125 percent, maintaining pressure on the world's second-largest economy and its predominantly tech-oriented export sector.

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Newcastle body clock tech innovator Circadacare secures £500k investment

2025-12-04 07:13:42

A healthtech business that uses knowledge of people's natural body clock and neuroscience has landed £500,000 of investment. Circadacare, which moved into The Catalyst building at Newcastle Helix last year, has secured further backing from Northstar Ventures via £250,000 from the North East Innovation Fund, which is supported by the European Regional Development Fund. There was also investment from new and existing angels, as well as a grant from Innovate UK's North East digital launchpad scheme. The five-year-old firm's flagship product, Heleos, combines circadian lighting technology with monitoring capabilities and is intended to support independent living and reduce care costs. It comes in response to the country's ageing population, and the pressure that puts on the health and social system. Circadacare has identified that standard lighting used in homes, hospitals and supported living facilities can negatively impact the body's natural rhythm, which in turn effects patients' sleep, mood and cognition. That can increase the risk of falls. Heleos is an easy-to-install smart lamp that gathers data about movement and sound, determining when an intervention may be required and providing feedback to clinicians, carers and families. Circadacare is now working with local authorities, domiciliary care providers and care home operators and was awarded a grant from the Longitude Prize in Dementia in 2023, along with several healthy ageing grants from Innovate UK. Tom O’Neill, investment manager at Northstar Ventures, said: "We’re delighted to support Circadacare with further investment which will be used to deepen commercial partnerships with key customers and improve the quality of care received by users. Congratulations to Tallie and the wider Circadacare team." Tallie Bush, COO, Circadacare, said: "This funding comes at the perfect time for Circadacare. It enables us to accelerate our development roadmap and expand Heleos' capabilities based on the valuable feedback we've received from our early adopters. We're passionate about refining the technology that's already making a difference in elderly care settings. With Northstar Ventures' support, we can enhance our offering, building on our strong foundation to create even more powerful tools for older adults and their carers." The latest injection of funding from the North East Innovation Fund follows last year's £1.3m fund raise by Circadacare. That came alongside additional grants of £358,000 from Innovate UK through the Healthy Ageing Innovate UK grant and £80,000 that came from the Longitude Prize in Dementia.

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Hull tech firm launches wearable band to help hospitality workers manage tips

2025-11-19 03:22:17

Fintech start-up thankyü has launched a wearable tipping service that it says will help hospitality and service workers, musicians and gig workers to earn more tips and get paid faster. The concept involves a wristband - called a TipTap - worn by the server and an app installed on customers' phones. Customers then tap to tip and the money goes to the server's personal wallet. Hull-based thankyü has developed the idea using payments tech providers viva.com and Mastercard Move. It provides a downloadable financial record of tips which the firm says can help hospitality and service staff fill in self-assessment forms and use as a credit reference for loans. The tech was developed in response to legislation that came into force last year, which requires employs to share tips, gratuities and service charges fairly and transparently with employees. Staff can choose from two options: a pay-as-you-go system where they pay 5% of each tip transaction, or a version where they pay the equivalent cost of a tip per month and get cashback on their platform charges, a free TipTap band and a discounts card. Gerard Toplass, the entrepreneur behind thankyü, said: "This is a tough time for the hospitality and service industry. Rising National Insurance and reduced business rates relief will make it harder for businesses and an increasingly cashless society means there’s less money for physical tips that go straight to staff, which can account for 40% of their income. But surveys show over 80% of customers want to tip using their cards or integrated wallets but want to make sure the person serving them actually gets the tip. "That’s why we created thankyü. We want to ensure staff have the ability to keep up to 100% of their tips so they can earn more money and get paid faster. We want to treat hospitality and service staff as the key workers they are. Thankyü will allow staff to share their tips with co-workers, bandmates, family or friends and choose how they spend or save. We’ve even introduced a free weekly prize draw that will help to top up their tips. "For employers, thankyü is safe and secure and compliant with HMRC and the Tipping Act. It reduces the administrative burden of managing cash tips, will help staff recruitment and retention and saves them paying National Insurance as the tips go straight to the server. Thankyü will ensure staff finally get the credit they deserve for their excellent service.” Anna Lamb, founder and owner of the Nibble Café in Hull, where the platform has been trialled, said: “Currently we take tips through the handheld PDQ machine and people can add a percentage or a custom amount. We then add that up every day and like collectively add it up at the end of the week, which is then declared through payroll and it goes into the wages.

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Cardiff digital agency Spindogs delivering new GP surgery solution in England

2025-11-17 19:47:50

Cardiff-based digital agency Spindogs has secured a six-figure contract for NHS England to develop a new website solution for surgeries. The two-year project, the first of its kind in the UK, is part of a wider strategy to reduce the number of incoming patient calls and on-site drop-ins being experienced at doctors’ surgeries, encouraging members of the public to instead use online booking systems as a first port of call. More than 60 GP practices have now adopted Spindogs’ new digital platform is optimised for both mobile and desktop. To date, a 44% increase in online patient registration and a 66% increase in online appointment making has been reported across sites where the new websites have been implemented. Spindogs is aiming for this number to rise over the next year, translating to long-term cost savings through reduced staffing needs, improved efficiency, and better patient management. The project comes as local GP surgeries face an uphill battle to manage communications and ensure the effective treatment of patients within the context of a growing and aging population. To help ease the burden, NHS England is aiming for 25% of all appointments to be booked online. Liam Giles, managing director of Spindogs said: “A lack of confidence in the digital offerings of GP practices is causing patients to bypass GP websites entirely - favouring more traditional communication methods like telephone calls and in person visits - resulting in more work for staff and an inefficient system. “With so many GP surgeries at bursting point, creating or refining a website simply isn’t a priority in terms of time or financial resources for many of them. However, without an effective website in place, patients understandably turn to calling or visiting instead, which blocks phone lines and increases workload unnecessarily as many of their requests could be dealt with easily online.” Spindog hopes that the project will be rolled out across other parts of England, as well as Wales. Mr Giles said “This project has been more successful than we could have ever imagined, with many of the surgeries we’ve worked with reporting a significant drop in caller numbers, helping to streamline and improve patients’ experiences, reducing pressures on surgeries, and freeing up time for GPs and other staff.

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Northumberland expansion for successful university spin-out Microbritt

2025-11-25 15:13:52

A successful Newcastle University tech spin out is expanding into a new base in Northumberland on the back of a £400,000 investment. Microbritt, which was spun out of the university in 2021, has developed a precision service which micro-manufactures products from brittle materials such as glass, silicon, polymers and ceramics. The company has developed a patented process for the production of high value prototypes and complex products which are created from brittle materials, and its technology has can be used in sectors including semiconductors, healthcare, photonics and defence. Last year the firm sealed the six-figure investment led by the North East Innovation Fund, which is supported by the European Regional Development Fund, and managed by Northstar Ventures, alongside business investor Angel Groups. The funding has enabled Microbritt to move into its new base in Cramlimgton where it can scale its micro-milling techniques, expand its production capabilities, and invest in advanced technologies and creating new jobs. Dr Carl Dale, CEO and co-founder of Microbritt, said: “The relocation to our new facility in Cramlington marks a major milestone for Microbritt. Expanding our operational footprint by ten times allows us to significantly enhance our manufacturing capabilities, accommodate cutting-edge equipment, and drive further innovation in precision microfabrication. “Brittle materials, like silicon used in the semiconductor industry, have previously been difficult to machine because of their fragility. Microbritt’s new patented process makes this possible and brings established CNC machining technology into a new manufacturing domain.” The firm said the decision to move to Cramlington’s industrial hub was driven by a desire to get closer to key partners, suppliers and the infrastructure to support its growth ambitions. As well as boosting its production capacity, to meet the rising demand for its products, it will also carry out new research and development, to ramp up product innovation and expand its portfolio. New skilled jobs within engineering, research and operations will also be created.

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Sheffield sensor start up Phlux Technology seals £9m investment deal

2025-11-09 18:10:34

Yorkshire connectivity specialist Phlux Technology is poised to create jobs and boost production capacity after sealing a £9m fundraise. The infrared sensor startup, founded in 2020 as a spin-out from the University of Sheffield, has secured the significant sum in a Series A funding round led by BGF, and existing investors Octopus Ventures, Northern Gritstone and Foresight. Phlux Technology’s work is focused on the next generation of fibre broadband connectivity, and the funding will drive its expansion into the optical communications and sensing markets, based on its antimonide-based semiconductor technology. The company’s infrared sensors are more sensitive than current alternatives while requiring less power, enabling faster, more efficient connectivity for applications like fibre-optic broadband, as well as advanced sensing for vehicles and industrial applications. The technology has the ability to boost data transmission speeds by up to five times, with data rates as high as 50 gigabits per second. Phlux has already built a global supply chain and serves customers across Asia, Europe, and North America and it now plans to scale its team, increase production capacity, and strengthen commercial partnerships to meet growing international demand. Ben White, CEO of Phlux, said: “This funding comes at a pivotal moment as demand for high-speed optical communication systems is growing enormously. By developing world-class, high-performance infrared sensors, we are enabling industries to push the boundaries of connectivity, sensitivity and efficiency by removing a technology bottleneck that has persisted for over 20 years.” Luke Rajah, partner at BGF, said: “Phlux has developed a game-changing technology in a sector that’s long overdue for disruption. With strong academic roots, early commercial traction, and a compelling roadmap, the team is well-positioned to lead in infrared sensing. Backed by BGF’s deep tech investment experience, we’re excited to support Phlux in scaling globally across the sensing and telecommunications markets.” Owen Metters, investor at Octopus Ventures, said: “When we first invested in Phlux, we were impressed with both the team’s expertise in developing novel semiconductor materials, and their ambition to revolutionise infrared sensing. We’ve been delighted with their progress to date and are excited to see this funding deployed to grow the team and bring two exciting new product ranges to market.”

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Newcastle biotech pioneer Nanovery seals £1.1m funding boost

2025-11-22 23:16:27

A Newcastle biotech business has secured a milestone £1.1m funding boost to ramp up its pioneering work. Nanovery has been developing nanorobots to help detect deadly diseases like cancer sooner since its launch in 2018, when co-founders Dr Jurek Kozyra and Roma Galloway wanted to launch a more efficient diagnostics solution for serious diseases, to bring more regular testing to clinicians and patients. The firm’s platform of analytical tools are used in the development of a new class of drugs known as RNA therapeutics – a market potentially worth $20bn by 2030 – which are opening the door to addressing previously untreatable diseases, including several cancers. RNA therapies offer advantages including the ability to design and develop new drugs more quickly than conventional methods. However, the stability of RNA molecules and the ability to deliver them to their intended site are among current challenges in the treatment. Testing technologies need to be carried out quickly but they are complex, expensive, time consuming and require high technical ability. However, Nanovery has advanced testing technology to the potential for more drugs to reach the clinic more quickly. As a result, it has already closed R&D deals with some household names. Northstar Ventures has now backed the Biosphere based company with investment from two of its funds; £450,000 from the North East Innovation Fund, supported by the European Regional Development Fund, and £195,000 from the Northstar EIS Growth Fund, alongside £500,000 from fellow investors Smartlink. The business has also been awarded a grant via Innovate UK’s investor partnership programme. Jurek Kozyra, CEO and co-founder Nanovery, said: “Securing this investment is a significant milestone for Nanovery and positions us to make a real difference in how next generation drugs - specifically ASOs and siRNA - are developed and tested. Nanovery’s technology makes the testing process simpler, quicker, and more reliable. And we couldn’t make it any easier: just add our nanorobots directly to the samples, measure fluorescence, and get results - bam, bam, bam - enabling drug developers to rapidly and reliably perform bioanalysis. “We’re thrilled by the growing enthusiasm from our investors, which is reflected in the bold strides we’re making to commercialise our technology with leading global industry players, including top pharmaceutical companies. We’re determined to keep accelerating the growth and adoption of our cutting-edge nanotechnology platform, believing it will help bring the most promising, life-changing therapies to patients faster. We are incredibly thankful to all the investors who have supported us on this journey.” Alex Buchan, investment director, Northstar Ventures, said: “The technology which Nanovery has produced is incredibly promising. It can address real industry issues easily and cheaply in the fast-moving arena of diagnostics and drug development.

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Bristol cyber security company Immersive appoints new CEO

2025-11-15 05:49:00

Bristol cyber security firm Immersive has appointed a new chief executive. Mark Schmitz will take the helm of the organisation while founder James Hadley will remain on the board as chief innovation officer. Mr Hadley, an ex-GCHQ trainer, will focus on driving "strategic vision and innovation" in partnership with Mr Schmitz, the company said. Mr Schmitz, who joins the business on Monday (March 17), has more than 25 years' experience in the enterprise software market, including as president at Collibra and Interim chief executive at Citrix Systems. He has also held senior leadership roles at SAP, Ariba, and Accenture. "We’ve achieved incredible milestones at Immersive and I am thrilled to bring Mark onboard and partner with him to usher in our next phase of growth helping our customers prove and improve cyber readiness," said Mr Hadley. "As we look to the future, Mark’s experience and leadership will be an invaluable complement to mine as we expand our market reach, as well as our leadership position, in the industry." Mr Hadley said the transition would allow him to focus on his passion of fostering innovation and engaging with customers. “I am excited to join Immersive and team up with James to realize the future of cyber drilling and exercising,” said Mr Schmitz. “Immersive’s innovative approach to people-centric cybersecurity is critical for confronting today’s and tomorrow’s threats, and it’s a key aspect of my decision to join the company. I look forward to working with this amazingly talented team to accelerate growth and deliver exceptional value to our customers.” Mr Schmitz's appointment comes just two months after Immersive appointed former Barclays chief information security officer Oliver Newbury to its board.

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Manchester and Bristol lead the way in high-growth business success outside London, Barclays Eagle Labs tech report shows

2025-11-17 08:11:59

Manchester and Bristol are home to the greatest numbers of high-growth businesses in England outside London, new Barclays research has shown. Barclays Eagle Labs’ Tech in the UK 2024 aims to analyse where high-growth businesses in the UK outside London are based, using Gross Value Added (GVA) figures that measure the economic contribution of businesses to their regions. The study shows that local areas with 100+ high-growth companies boast an average Gross Value Added (GVA) per business of £294k, compared to just £27.5k for those with less than 100. The Barclays study shows Manchester’s high-growth businesses contributed £30bn to the area when measured in 2022. Manchester had more than 450 high-tech growth firms. The report hailed the city’s business support ecosystem, as well as the work of organisations such as the North West Business Leadership Team Bristol and the South West were praised for their universities’ work to connect with businesses, such as the Brunel Centre joint data hub from the University of Bath and UWE. The report showed that in 2024 tech investment was up 10% at £167m, with Bristol’s wider deeptech cluster “Silicon Gorge” now spanning Bristol, Gloucester and Swindon. Edinburgh is also home to 450+ high-growth tech companies, and the report hails Scottish Enterprise’s role in commercialising research at growing firms. Some 198 deals were signed here between 2020-24. In terms of total GVA contribution from high-growth firms, Birmingham, Leeds and Glasgow also performed strongly. The report says: “Outside of London, the local authorities of Edinburgh, Manchester and Bristol have the highest populations of high-growth tech companies. These cities are supported by strong business support systems, which help encourage the formation of high-growth tech companies.” Cambridge and Leeds are each home to 280 high-growth companies. But the Barclays study shows investment in Cambridge last year passed half a billion, whilst the wider Yorkshire & Humber region (with Leeds) received just £179m. Barclays said: “Continuing to invest in diverse economic hubs across the North of England can be seen as a priority on this basis.” Technology minister Baroness Jones said: “A thriving technology sector is key to delivering our mission of secure and sustainable growth. Regional tech hubs are at the heart of this progress – fuelling innovation, creating jobs, and delivering lasting economic benefits to communities across the UK. As this research shows our world-class universities and pioneering entrepreneurs are driving this progress and we are committed to working with them to create new industries, transform existing ones, and boost productivity.” Barclays Eagle Labs has supported more than 17,000 businesses through its ecosystem support. Hannah Bernard, head of business banking at Barclays, said: “Our Tech in the UK report drives home the importance of high-growth tech companies to the regions and communities in which they’re based. Investing in and growing tech businesses has masses of economic potential for the UK, however, in order to grow it’s clear that access to finance remains front of mind for these businesses.

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Filtronic expands work with Elon Musk's SpaceX a year on from landmark agreement

2025-11-15 03:45:36

Tech manufacturer Filtronic has boosted its multimillion-dollar work with US rocket company SpaceX amid what it says is an exciting time for the business. The County Durham based maker of radio frequency communications equipment, which also has operations in Leeds and Cambridge, says its partnership with Elon Musk's high profile business has been expanded to allow for more orders and deeper collaboration between the two companies. Under the new agreement, Filtronic will increase its supply of advanced E-band SSPA modules used in the deployment of SpaceX's Starlink constellation, which provides high-speed, low-latency internet to users across the world, often in hard to reach places. It follows an initial £48m ($60m) agreement between the two companies signed almost a year ago, which gave SpaceX the option to subscribe to 10% of Filtronic's shares. As part of the new deal, a further 5% of Filtronic share capital is available to Mr Musk's business - made possible by the issuing of 10,949,079 warrants to SpaceX at an exercise price of 92.8p. The original deal has proven to be transformational for Filtronic, which has gone from a £16m turnover company to to one that it is expected to reach £48m this year. Bosses say the new agreement has given them confidence the business - whose share price was climbing on the announcement - is trading slightly ahead of market expectations. SpaceX's series of multimillion-dollar orders has also been a driver of Filtronic's expansion in the North East - with its factory capacity set to double as it moves into new buildings at its NETPark home. Nat Edington, chief executive officer, of Filtronic said: "We are delighted to enter this important new phase of our strategic partnership with SpaceX. The new agreement demonstrates the value of our technology to one of the world's most innovative technology companies and secures further significant supply of E-band SSPAs into the Starlink constellation. "This gives us greater visibility and confidence that we are trading marginally ahead of market expectations for our financial year ending May 31, 2026. This continues to be an exciting time for the business, and we look forward to continuing our relationship with SpaceX."

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Apple's UK privacy battle: Human rights groups slam government's demand to weaken security

2025-11-11 04:42:46

Two UK human rights groups, Liberty and Privacy International, have launched a legal challenge against the government's attempt to force tech giant Apple to compromise its security systems, citing a lack of transparency in the process. The government had sought to compel Apple to create a "back door" in its security systems, which the company has resisted, as reported by City AM. The groups have filed a complaint with the Investigatory Powers Tribunal (IPT), arguing that the demand infringes on users' rights to free speech and privacy. Caroline Wilson Palow, Privacy International's legal director, stated: "The UK's use of a secret order to undermine security for people worldwide is unacceptable and disproportionate." Apple is also contesting the order, issued under the Investigatory Powers Act (IPA), and has withdrawn its secure iCloud backup device from the UK market after receiving a "technical capability notice" (TCN) in January, which required the company to grant law enforcement access to encrypted iPhone backups. The human rights groups argue that the secrecy surrounding TCNs prevents accountability and transparency, and that Apple should be allowed to appeal against the order publicly. Apple has maintained that it has never built a "back door" or "We have never built a back door or master key to any of our products, and we never will" to its products and has no intention of doing so. Several media outlets have submitted requests to the Investigatory Powers Tribunal (IPT), pressing for proceedings to be conducted publicly. The matter has drawn reproach from American legislators who are calling on UK officials to adopt greater transparency with their Investigatory Powers Act (IPA) endeavours. Concerns have been raised that the clandestine nature of British government directives to top US tech companies undermines privacy and freedom of speech rights. This development comes on the heels of Apple's recent move to disable its intricate data protection services in the UK due to a quarrel with authorities regarding encryption and access to user information. Additionally, tech giants such as Apple, Google, and Meta face the challenge of substantial class action lawsuits lodged against them in the UK in recent times. In a parliamentary session back in February, Security Minister Dan Jarvis stated: "The suggestion that privacy and security are at odds is not correct; we can and must have both".

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US firm Vishay Intertechnology confirms £250m investment at UK's biggest semiconductor facility

2025-11-17 20:18:50

US tech company Vishay Intertechnology has revealed a £250m investment at its Newport foundry in South Wales making semiconductors that will transform the powering of electric vehicles. It is the latest stage of longer-term plans to inject £1bn and create hundreds of new high-skilled jobs. The funding, subject to due diligence and meeting staged milestones on research and development and capital expenditure, will see the UK Government contributing tens of millions of pounds in support through its Automotive Transformation Fund. The investment will position the foundry to make advanced silicon carbide semiconductors, an integral part of electric vehicle production, at scale. Silicon carbide allow electric cars and wind turbines to convert power more efficiently, while enabling speeds up to 100 times faster than traditional chips. Vishay’s investment will sustain more than 500 jobs at the facility and hundreds more in its supply chain. Vishay’s £1bn investment plans at Newport would see staff numbers climb to 900 by 2030. The jobs are projected to pay 50% more than the region’s average salary rate. The global compound semiconductor market is set to grow from $67bn to $350bn by 2030. Vishay acquired the facility from Nexperia in 2023 in a £150m deal, after the UK Government ordered a divestment due to its ultimate Chinese ownership on national interest and security grounds. On a visit to the UK's biggest seminconductor facility Chancellor Rachel Reeves said: “Under this government the UK is open for business. This is exactly the type of investment that will help us grow the economy, create highly skilled jobs and boost opportunity for people across the country, as we deliver on our Plan for Change to get more money in working people’s pockets”. The amount that Vishay could secure from the Automotive Transformation Fund is not being disclosed, although the US firm has previously confirmed it was seeking £52m. Roy Shoshani, chief technology officer for Vishay, said:“This is an exciting moment, and the start of our plans for growth in the UK. We can see through the development of the Industrial Strategy and the skilled workforce in Newport that there is a real opportunity to play to the UK’s strength in advanced semiconductors, delivering greater economic security and supporting Net Zero.” Last year Vishay confirmed a first phase £52m investment at the plant that included £5m from the Welsh Government. According to research by Oxford Economics, for each semiconductor job almost six additional jobs are created in the wider economy. Vishay is also exploring new opportunities for the site in the fields of defence, aerospace and renewable energy – sectors they already supply from other parts of its global business. Secretary of State for Wales Jo Stevens said:“This massive investment by Vishay and the UK Government is a huge boost for Wales’s world-leading semiconductor industry. “Earlier this month I was at Vishay to see the work they do on advanced manufacturing, renewable energy and defence industries – all key sectors in the Welsh economy. “This investment will build on that success to create and support hundreds of highly skilled and well-paid jobs, driving economic growth in south Wales and beyond and helping us deliver our plan for change.” Mike Hawes chief executive of the, Society of Motor Manufacturers and Traders, Chief Executive, said:“This significant investment in compound semiconductors is a huge contribution to the innovation and advanced technology necessary to drive the future of UK Automotive. British-made next-generation semiconductors will create jobs, support supply chains and enhance the UK’s strategic capabilities.

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Tech infrastructure company Softcat beats analyst expectations as profit jumps

2025-11-30 05:43:02

UK tech infrastructure company Softcat surpassed analyst predictions last year, with profit growth soaring into double digits over the final six months of the year. The firm's gross profit rose by 12.1 per cent to £220.2m, exceeding analyst forecasts of £218.3m, as revealed in its half-year report, as reported by City AM. Operating profit also saw an increase of 10.4 per cent to £73.7m, surpassing analyst expectations of £72.3m. Management had been anticipated to reaffirm its guidance of high single-digit operating profit growth, but instead raised forecasts to low double-digit growth. Growth over the past six months was widespread but particularly robust in security, networking and data centre infrastructure, according to the firm. "We have continued to successfully implement our strategy, resulting in a first half performance slightly above our initial expectations and an upgrade to full year guidance, despite the persistent backdrop of generally more challenging trading conditions," stated Softcat CEO Graham Charlton. The firm's headcount increased by six per cent over the past year to 2,617, and Charlton anticipates a further increase of between six and eight per cent over the full year. Meanwhile, the group made progress against two strategic goals: Winning new customers, up 1.4 per cent from last year, and selling more to existing customers, with gross profit per customer increasing by 10.7 per cent. Peel Hunt has given Softcat's stock a Buy rating, setting a target price of 1,722p. The company's shares are currently valued at 1,615p, having increased by 5.9 per cent since the beginning of the year. "We are excited by the rapid pace of innovation across our industry, with more organisations embedding AI and automation into their systems and processes," Charlton added.

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