Mail on Sunday2 Mar 2025 10:08
Spun out of Leeds University in 1977, Filtronic was an electronics pioneer from the start. The group listed on the stock market in 1994, expanded rapidly and by the height of the dotcom boom its shares had soared to more than £4. They then fell to earth, slumping to below 30p and barely moving for years. But the group persevered, quietly developing top-tier radio-frequency products used by industries from aerospace to quantum computing.
That perseverance paid off and last year, Elon Musk came a-calling. The US billionaire chose Filtronic as a strategic partner for SpaceX, his galaxy-bound venture recently valued at $350 billion (£275 billion). Besides striving to boldly go where no man has gone before, SpaceX operates Starlink broadband, providing high-speed internet services via satellite to users around the world. Filtronic signed an initial contract with Musk last April but he keeps coming back for more, with a new deal signed only last month. Filtronic shares have more than doubled to £1.04 since last year but the group is still valued on the stock market at less than £250 million, a minor morsel for an ambitious technology company or private equity house.
GLA