Braben takes game studio to next level in AIM float

The co-creator of legendary “space trading” game Elite is eyeing a stock market flotation for the development studio he founded nearly 20 years ago.

David Braben, Founder of Frontier Developments and creator of classic game Elite. Picture: Contributed

David Braben, chief executive of Frontier Developments, wrote Elite with Ian Bell while at Cambridge University. First published in 1984 for the BBC Micro, the title went on to sell about one million copies.

A sequel was released in 1993 and Frontier is currently working on the latest instalment in the space exploration series, Elite: Dangerous. The firm has already raised more than £1.7 million through “crowdfunding” website Kickstarter to pay for the development of the game, which is due to be published for Windows and Mac computers next year.

Braben set up Cambridge-based Frontier in 1994 and owns 69 per cent of the company. Scottish game developer Chris Sawyer has a 10.1 per cent stake in the firm, which is chaired by serial investor David Gammon. Frontier also has a studio in Halifax, Nova Scotia, and employs 227 full-time staff.

As well as producing best-selling games such as LostWinds and rollercoaster simulation Thrillville, Braben is the co-founder of Raspberry Pi charitable foundation, which last year began selling miniature computers for less than £30 in a bid to encourage more children to learn programming skills.

The flotation on the Alternative Investment Market is due to kick off on 12 July. Cannacord Genuity has been selected as the nominated adviser and broker.