Tech firm planning stock float

Cambridge's advanced bluetooth chips are used in Nokia phones

Technology firm Cambridge Silicon Radio has announced plans for the first UK stock market flotation of the year.

Cambridge makes microchips used in bluetooth wireless technology for mobile phone firms such as Nokia.

The UK company said the flotation would strengthen its balance sheet and help "provide increased security and confidence to its customers".

Cambridge is thought to be the first of several technology companies planning to float in order to raise extra funds.

In the year to December 31, the company's turnover was £37.1m ($67.6m), representing a 144% increase on 2002.