A COMPANY which uses technology developed at Aberdeen University has seen its shares continue to rise.
Arria NLG made its debut on the Alternative Investment Market on Thursday and the stock finished the trading day at 160p.
The shares surged a further 74% yesterday, ending 120p ahead at 282.5p, valuing the business at more than £282 million.
That means Professor Ehud Reiter, Dr Somayajulu Sripada and Ian Davy, who were among the founders of Aberdeen University spin-out Data2Text, which was later acquired by Arria, are sitting on paper fortunes approaching £15m each.
Aberdeen University's stake in Arria is now worth around just short of £14m.
Arria uses natural language generation technology, which involves computer programmes being set up to analyse complex data then translate the numbers into easily readable reports.
The Arria systems, based on Data2Text products, are currently being used for weather prediction and monitoring equipment on an oil rig in the Gulf of Mexico.
The London company believes the technology has application across a number of industries but is targeting the healthcare and financial services sectors in its next phase of development.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereComments are closed on this article