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Arria NLG shares continue to increase

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.

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