Camerons wins IQ-Ludorum after working on AIM float

CMS CAMERON McKenna has won Canadian software specialist IQ-Ludorum as a corporate client after helping to steer the company to a successful flotation on the London Stock Exchange’s Alternative Investment Market (AIM) in August.

Chairman Bill Holt referred the work to Camerons after working with the firm through another company.

Corporate partner David Bresnick led the Camerons team, assisted by Simon Vere-Nicoll, Vasiliki Antoniou and Victoria Inness.

Despite difficult market conditions for technology stocks over the summer, the float raised £12m and resulted in a market capitalisation of £60m. The company supplies internet gaming software and technology solutions to US and Caribbean markets and plans to expand into Europe.

Bresnick says: “The European online gaming and telephone betting market is expanding rapidly and represents prime territory for the further development of IQ-Ludorum’s proven business model. We are looking forward to helping IQ-Ludorum convert this opportunity.”

Future work will involve advising on acquisitions and on product sales and development.

Over the past 12 months, Camerons has set up a multi-disciplinary group combining corporate and technology expertise to boost its technology sector client list.

Other technology clients which are being advised by the group include Amazon, Sun Microsystems and Motorola.