Former WANdisco CEO to Lead AI Company Focused on Consumer Goods Industry
David Richards, the former boss of data software group WANdisco, is set to return to London’s public markets as the chairman of IntelliAM, an artificial intelligence company. The company is expected to list on the junior Aquis exchange next month, following a ten-day notice that will be filed with Aquis this week.
IntelliAM is working with Oberon, a corporate advisory firm, to raise approximately £5m to support its expansion plans. The company has already made significant strides in the consumer goods industry, working with half of the world’s top ten food and drink companies, including renowned confectionery giant Mars. Using machine learning, IntelliAM helps drive productivity improvements for its clients.
Founded last year, IntelliAM’s success has caught the attention of investors and industry experts alike. However, the company declined to comment on its plans to go public.
This news comes after Richards’ departure from WANdisco prior to the company’s involvement in a major fraud scandal last year. He was later asked by the board to repay hundreds of thousands of pounds in bonus payments, but rejected the requests. WANdisco has since been renamed Cirata and is now led by former Sage Group boss Stephen Kelly.
IntelliAM’s advancements in the field of AI and its impressive client portfolio make it a promising addition to London’s public markets. As the company prepares for its listing, all eyes will be on Richards and his team to see how they will continue to drive innovation and growth in the consumer goods industry.