RealTime IT News

Stilo Becomes First XML Specialist to Float on AIM

[London, ENGLAND] With dealings set to begin on August 30, Stilo International plc becomes the first U.K. XML specialist to float on AIM, the Alternative Investment Market of the London Stock Exchange.

Founded in 1995, Stilo develops tools such as XMLDeveloper which it introduced in February this year to help e-commerce and other Web developers create applications in eXtensible Mark-up Language -- the acknowledged successor to HTML.

Shares in Stilo were placed at 50 pence (75 cents), raising US $13.5 million and valuing the company at over US $31 million.

Stilo's Chief Executive Les Burnham said that XML is set to underpin the vast majority of e-commerce applications over the coming years. XMLDeveloper, he said, would speed up development times and enable substantial cost savings to be made.

"We estimate that Stilo is six to nine months ahead of the competition in the U.K., and floating on AIM will help us to fulfill our plans to become a leading global supplier of XML software, training and consultancy," said Burnham.

Stilo is currently working with Microsoft to deliver joint corporate XML training programs. It also has a technology partnership with e-business specialist eXcelon Corporation.

Among Stilo's customers are Volkswagen of America, U.S Government Printing Office, Andersen Consulting, and the European Union.

Computer software giant EDS called on Stilo to speed up the XML message testing process on EDS's project to create an Internet filing service for U.K. tax returns.

The importance of XML has even reached the highest echelons of government, with Patricia Hewitt, the U.K. minister responsible for e-commerce, saying at a recent conference: "XML will be at the heart of Government e-commerce strategy."