Arria NLG, an automated writing developer spun-out from the University of Aberdeen, is due to announce plans to float on the Alternative Investment Market (AIM) by the end of the month, according to news provider The Times.
The company will have a £100m valuation when it joins AIM, marking sizeable returns for Aberdeen which still has a 5% stake in the company. Its four founding members also retain a 17.5%.
The NLG in Arria’s name stands for natural language generation, which describes the technology the company uses for its autonomous writing products. The company’s product can generate written reports from live data, and is already in use by oil rigs and weather services.
