Innovative tech companies aren’t native to incubator giants like Silicon Valley. In fact, the UK has made quite a name for itself in the tech sector, sporting well-established tech companies as well as startups that look like they’re definitely going places.
There seems to be a common misconception that the leading tech companies are to be found in the US and China, but so is certainly not the case, and while the UK doesn’t appear to want to go toe-to-toe with US behemoths like Microsoft, Google or Facebook, they certainly are intent on carving out their own space of the tech sector and catering to the general needs of the consumer. In fact, some of the most popular UK tech companies can be found on the FTSE 100 index, where their performance is tracked and listed on the London Stock Exchange (LSE) based on market capitalisation. These companies range from online retailers to software companies, creating a climate of investment opportunities. Here are some of the of most innovative British tech companies to be aware of.
Micro Focus (MCRO)
This UK-based information technology and software company’s services extend beyond national territories. Micro Focus offers up both management and consultancy software to a slew of businesses and in 2005 became listed on the LSE after which it gained further status and recognition when it became a constituent of the FTSE 100 in 2014 thanks to a series of acquisitions which in turn pushed up its market capitalisation. The company’s share price took a dip in 2017 when it was acquired by top tech stock holder Hewlett Packard Enterprises, resulting in some teething issues, all of which had recovered by late 2018.
Just Eat (JE)
Just Eat operates within the online food and delivery service space. This business serves as an intermediary between the consumer and various food outlets enabling customers to peruse local food outlets, select a delivery method, and pay for it all online. In 2014 the company was listed on the LSE with an initial market capitalisation of £1.5 billion. In late 2017 it became part of the select few AI and tech stocks on FTSE100 indices thanks to a share price of £8, placing its market valuation at £5.4 billion and leading to a global expansion.
Sage Group (SGE)
The Sage Group has a long history of legitimacy, having been listed on the LSE way back in 1989 already. This multinational software company caters to small businesses and specialises in accounting and estimation software with a global customer reach of roughly 6.1 million. In 1999 it became a constituent on the FTSE 100 and despite a bit of a slump in its share price in late 2018 saw a subsequent climb in its organic revenue which strengthened investor confidence.
Ocado (OCDO)
This British online supermarket might not traditionally come across as a technology stock, however a little investigation will soon reveal that it’s the parent company of Ocado Technology, one of the UK’s fastest growing tech companies. Ocado Technology provides the platform from which Ocado.com operates and in addition provides software for other major online retailers such as Fabled by Marie Claire, Morrisons and Fetch and Sizzle.
Vodafone (VOD)
The multinational behemoth that is the Vodafone Group (VOD) is a telecommunications company with mobile network operations spanning 25 countries and IT services extending to 150 countries. Vodafone is a big player on the LSE, having achieved the status of ‘primary listing’. It also achieved the top spot on the FTSE 100 on 13 November 2018 after its shares jumped by 7.8%. Naturally Brexit has affected the company’s share price mainly due to the fact that three quarters of its revenue is generated overseas, but investor confidence remains strong.
