CSR team set for float millions

A PLANNED £200m-plus float of wireless technology specialist Cambridge Silicon Radio is on course to turn its founding directors into multimillionaires.

Up to 10 senior executives should see their combined stakes valued at about £36m after confirmation that CSR aims to list in London by the end of March.

Founding directors James Collier, Glenn Collinson and Phil O'Donovan are expected to take the lion's share of a 15% stake in the firm, worth around £30m, shared with six other executives who left Cambridge Consultants in 1999 to set up CSR with $10m venture capital investment from 3i. Chief executive John Hodgson's 2.9% stake will be worth about £6m.

CSR's revenues for the year to 31 December 2003 grew 144% to $67.6m and it made an operating profit of $26.7m in its fourth quarter, but is expected to make a pre-tax loss for the full year.