Tech group Rosslyn aims for summer IPO Rosslyn Analytics, a "big data" analysis group, hopes to become the latest technology company to benefit from the thawing market for initial public offerings in the City with a float later this summer. The London-based group will attempt to raise between £7.5m and £10m at a valuation of between £75 and £100m, according to its chief executive Charles Clark. Small technology companies have struggled to go public in the City in recent years, with the technology sector accounting for just four IPOs in 2012. Rosslyn Analytics may benefit from the market's positive reaction to WANdisco, another big data company, which was the runaway IPO success story of 2012 for the technology sector. Shares in WANdisco have more than quadrupled since it floated at 180p last summer. Today, the group trades just short of 800p. The London Stock Exchange has attempted to woo companies on to public markets with the introduction of a new "High-Growth Segment" - a subset of the Main Market that allows companies to list with small free floats. Despite these efforts, London still suffers from a reputation that fund managers in the City are sceptical of technology companies. Mr Clark offers little sympathy for technology companies who fail to convince fund managers to invest. "If you can't do it in front of a fund manager, you can't do it in front of a client," he said. Rosslyn Analytics operates among the increasingly crowded market of companies - including young groups such as WANdisco and Domo, and, increasingly, established giants such as SAP - offering to help companies sift through the data they produce. Rosslyn, whose clients include Rio Tinto, UBS and Cobham, has a run rate of about £5m and will break even this year. Mr Clark said Rosslyn Analytics expects to achieve a run rate of £7m to £10m in annual revenues before taking the company to market. The funds raised will be spent on recruitment, with an emphasis on both research and sales. The group employs 50 people in London, Denver and New York. This figure will grow to between 70 or 80 by the end of this year. Competition for qualified staff in the sector is intense, with financial companies and large technology groups, such as Google and Apple, able to offer much higher salaries than small start-ups. "It's quite difficult to chat to someone after they've just had an offer from Goldman," said Mr Clark, who spent the bulk of his career in the City at Panmure Gordon's asset management division after a stint in the army. IQ Capital Partners, the Cambridge-based venture capital group, owns about a fifth of the company, after investing two years ago. Rosslyn is yet to appoint advisers.