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10 Biggest British Tech Companies
BY Janne Muta
|August 27, 2024The United Kingdom has produced some of the most influential tech companies in the world, spanning various sectors from artificial intelligence to fintech. Among the biggest British tech companies are industry giants like ARM Holdings, which dominates the semiconductor industry with its processor designs used in billions of devices worldwide. Darktrace has become a leading force in cybersecurity, leveraging AI to detect and neutralise threats in real time. Meanwhile, Ocado Group has revolutionised the retail sector through its advanced automated warehousing solutions. This article explores the contributions and advancements of these and other prominent British tech companies, highlighting their pivotal roles in shaping the global tech landscape.
The article is of particular interest to traders following and trading technology shares, as it examines the actual business activities these companies are engaged in. News events related to technology shares tend to be volatile, providing traders with short-term trading strategy opportunities on both sides of the market. However, this carries significant risks to your capital. Remember to apply strict risk management rules if you consider trading these volatile share CFDs.
ARM Holdings: A Leader Among the Biggest British Tech Companies
ARM Holdings, a key player among the biggest British tech companies, is widely recognised for its substantial impact on the semiconductor industry. Founded in 1990 in Cambridge, ARM Holdings specialises in the design of microprocessors, software, and semiconductor technologies. Rather than manufacturing its own chips, ARM licenses its designs to other companies, enabling widespread adoption across multiple industries. ARM's architecture is fundamental to over 95% of the world’s smartphones, highlighting its central role in mobile technology. The company’s designs are also essential to various devices, including tablets, wearables, and Internet of Things (IoT) products.
In 2016, ARM Holdings was acquired by Japanese conglomerate SoftBank for £24 billion, emphasising its strategic value within the global tech ecosystem. ARM returned to the public market with a successful initial public offering (IPO) on the Nasdaq in September 2023, pricing its shares at $51 each. The company began trading under the ticker symbol "ARM." In June 2024, ARM Holdings was added to the Nasdaq-100 Index, replacing Sirius XM Holdings. ARM's technology continues to be integral to billions of devices globally, reinforcing its position as a cornerstone in the semiconductor sector and securing its status among the biggest UK technology companies.
Darktrace: Cybersecurity Innovator
Darktrace is one of the biggest British tech companies and is recognised for its significant contributions to the cybersecurity industry. Established in 2013 by mathematicians and cyber experts from the University of Cambridge, Darktrace focuses on using artificial intelligence (AI) to detect and respond to cyber threats autonomously. The company’s core technology, the Enterprise Immune System, is designed to mimic the human immune system, enabling it to identify and mitigate cyber risks in real-time. This innovative approach has positioned Darktrace as a key player in global cybersecurity. In 2024, Darktrace announced a major development with the proposed acquisition by US private equity firm Thoma Bravo for $5.3 billion. This deal, however, is still subject to shareholder approval, with the companies expecting to complete the transaction by the end of 2024. If finalised, this acquisition could result in Darktrace delisting from the London Stock Exchange. Despite the pending transaction, Darktrace continues to focus on advancing its AI-driven security solutions.
Additionally, Darktrace released its "First 6: Half-Year Threat Report 2024," which details the increasing challenges posed by Cybercrime-as-a-Service. These developments underscore Darktrace’s ongoing influence and reaffirm its status among the British tech companies, continuing to shape the cybersecurity sector.
Ocado Group: Transforming Retail
Ocado Group, established in 2000, began as an online grocery service but has since evolved into one of the biggest British tech companies due to its advanced technology arm. The company has developed sophisticated automated warehousing systems utilising robotics and artificial intelligence. These technologies have attracted global interest and are deployed by major international retailers, including Kroger in the United States and Groupe Casino in France.
Kroger partnership developments
In 2024, Ocado expanded its partnership with Kroger by introducing new automated systems, such as the On-Grid Robotic Pick and Automated Frameload technologies. These systems are being integrated across Kroger’s customer fulfilment centres. These innovations are expected to increase operational efficiency and enhance productivity across Kroger’s network.
Groupe Casino collaboration
Ocado has also extended its relationship with Groupe Casino in France, forming a joint venture aimed at developing and managing customer fulfilment centres in various regions. The partnership involves the deployment of Ocado’s automated solutions, reflecting the company’s role in advancing logistics within the retail sector.
Ocado Group’s technological advancements and global partnerships highlight its significant role in transforming traditional retail operations. As one of the biggest British tech companies, Ocado continues to play a crucial role in the technological evolution of the retail industry.
Deliveroo: Revolutionising Food Delivery
Deliveroo, founded in 2013, is a prominent player among the biggest tech companies in the UK, significantly impacting the food delivery market with its technology-driven platform. The company connects customers with restaurants and delivery riders through a system that leverages data analytics and algorithms to optimise delivery routes and predict demand. Deliveroo’s operations have expanded to over 800 towns and cities across 11 countries, reflecting its substantial reach and influence.
Since its IPO on the London Stock Exchange in 2021, Deliveroo has continued to evolve. In 2024, the company reported a strong performance, with growth in gross transaction value (GTV) and improvements in operational efficiency. Deliveroo has also expanded its services, including the launch of Deliveroo Shopping, a new retail offering. Additionally, the company has made strategic acquisitions, such as Triver and Tangent, to diversify its business further. These developments reinforce Deliveroo’s position alongside other leading British tech firms like Ocado Group, highlighting its ongoing innovation and growth within the tech sector.
Revolut: Fintech Pioneer
Revolut, founded in 2015, is a fintech company that has rapidly expanded its services both within the UK and internationally. Initially focusing on currency exchange, the company has since broadened its offerings to include banking services, cryptocurrency trading, stock trading, and wealth management. Revolut's mobile application enables users to manage their finances across multiple currencies, reflecting the UK's growing influence in the fintech sector. As one of the biggest British tech companies, Revolut continues to drive innovation in financial technology.
In 2023, Revolut faced scrutiny regarding its regulatory standing in the UK, particularly concerning its application for a UK banking licence, which has been pending for several years. This situation highlights ongoing challenges within the regulatory environment for fintech companies operating in the UK.
Wise, another key player among the biggest British tech companies, was founded in 2011 and is known for its international money transfer services. Originally called TransferWise, the company rebranded to Wise in 2021 to reflect its broader range of financial services. The comparison between Revolut and Wise underscores the significant role that fintech companies play in advancing the UK’s technology sector. Revolut and Wise continue to reshape financial services, setting a benchmark for innovation and growth in the industry.
Wise: A Fintech Leader Among the Biggest British Tech Companies
Wise, formerly TransferWise, is a prominent British fintech company established in 2010 by Taavet Hinrikus and Kristo Käärmann. The company was founded to provide a transparent and cost-effective alternative to traditional banks for international money transfers, addressing the high fees and unfavourable exchange rates that users commonly encountered. Wise’s platform enables users to send money across borders efficiently, utilising real exchange rates with minimal fees. This approach has attracted a substantial global user base, making Wise one of the biggest British tech companies.
In July 2021, Wise went public on the London Stock Exchange via a direct listing, a move that underscored its influence in the fintech industry. Unlike a traditional IPO, the direct listing allowed existing shareholders to sell their shares without issuing new ones, reflecting the company’s established market position.
Recent developments include Wise's ongoing expansion of services and regulatory approvals. In 2023, the company received its UK licence as an Electronic Money Institution, which solidified its commitment to compliance and operational standards. Wise continues to develop its platform, offering business accounts, debit cards, and multi-currency accounts, further broadening its service offerings. As one of the biggest British tech companies, Wise remains a key player in the global fintech landscape.
BT Group: Telecommunications Giant
BT Group, formerly known as British Telecom, is one of the largest telecommunications companies in the UK, with roots dating back to 1846. Initially established as the Electric Telegraph Company, BT has significantly expanded its operations over the decades. Today, it is a leading provider of broadband, mobile services, and digital TV, playing a pivotal role in the UK's digital infrastructure. The company is also heavily invested in the deployment of 5G technology and fibre optic networks, supporting the nation’s transition to high-speed internet access. BT’s Openreach division manages the UK’s broadband infrastructure, which is crucial for both residential and business connectivity.
In 2024, BT Group made headlines with its strategic focus on enhancing cybersecurity services. The company announced the expansion of its cyber defence capabilities through new partnerships and investments, reflecting the growing importance of digital security in an increasingly connected world. Additionally, BT continues to innovate in the digital space, with efforts to expand its 5G coverage and further develop its fibre optic network, aligning with the UK government’s goals for nationwide high-speed internet.
As one of the biggest British tech companies, BT Group remains integral to the UK’s telecommunications landscape, continually adapting to technological advancements and the evolving needs of its customers.
Sage Group: ERP Software Provider
Sage Group, founded in 1981, is a prominent provider of enterprise resource planning (ERP) software, delivering comprehensive solutions for accounting, payroll, and payment systems to businesses worldwide. Headquartered in Newcastle upon Tyne, the company has established itself as a leader in the software industry, adapting to technological advancements and shifting market demands. Over the years, Sage has successfully integrated emerging technologies, such as cloud computing and artificial intelligence, into its product offerings, ensuring its relevance in the digital age.
In 2024, Sage continued to strengthen its position among the biggest British tech companies by enhancing its cloud-based services and expanding its AI-driven capabilities. The company has been focusing on Sage Intacct, its flagship cloud financial management software, which has seen increased adoption globally. Sage's strategic initiatives include forming partnerships with other technology firms to expand its ecosystem, allowing for seamless integration of third-party applications with its ERP solutions.
Sage has also prioritised sustainability, setting ambitious targets to reduce its carbon footprint and promote responsible business practices across its operations. As part of its commitment to innovation, Sage is investing in research and development to explore new areas, such as automation and advanced data analytics, further solidifying its role as one of the biggest British tech companies in the software sector.
Graphcore: AI Hardware Innovator
Graphcore, a Bristol-based technology company founded in 2016, is recognised as a leader in artificial intelligence hardware. The company has developed the Intelligence Processing Unit (IPU), a processor specifically designed to manage the complex demands of AI workloads. Unlike traditional processors, the IPU architecture is tailored to handle large-scale machine learning models, making it particularly effective for AI tasks such as neural networks and deep learning. Graphcore’s technology has garnered significant attention from major global companies, including Microsoft and BMW, which utilise its hardware for advanced AI applications.
In 2023, Graphcore made headlines by announcing a new collaboration with the European Union on AI research and development, focusing on creating AI systems that align with European standards for privacy and ethics. This collaboration aims to enhance the EU’s capabilities in AI while positioning Graphcore as a key partner in the region's technological advancement. Additionally, the company has been expanding its product offerings with the latest version of its IPU, which is designed to support increasingly complex AI models and data requirements.
Graphcore’s continued innovation and strategic partnerships have solidified its place among the British tech companies, contributing to the global race for AI supremacy. The company remains focused on advancing its hardware to meet the evolving needs of the AI industry.
Admiral Group: Insurtech Leader
Admiral Group, headquartered in Cardiff, is a prominent entity in the insurtech sector, effectively merging insurance services with advanced technology. Established in 1993, Admiral has become one of the UK’s largest insurance providers, particularly excelling in the car insurance market. The company has strategically invested in data analytics and machine learning to enhance its operational efficiency and improve customer service. These technological investments are integral to Admiral’s approach, allowing the company to better assess risk, personalise policies, and streamline claims processing.
In 2024, Admiral Group expanded its digital capabilities by launching new AI-driven tools designed to enhance customer engagement and provide more accurate pricing models. These tools utilise advanced algorithms to analyse vast datasets, helping Admiral to offer tailored insurance products that meet the specific needs of individual customers. Additionally, the company has focused on improving its digital platforms, making it easier for customers to manage their policies online.
Admiral’s commitment to integrating technology into its core operations has solidified its position as a leader in the insurtech space. As one of the biggest British tech companies, Admiral continues to innovate within the insurance industry, demonstrating the growing influence of technology in traditional financial services.
Conclusion
The UK’s biggest tech companies continue to lead the way in innovation across various industries, from artificial intelligence and fintech to telecommunications and retail technology. These companies have not only strengthened the UK's position as a global tech hub but also set benchmarks for technological advancement worldwide. Whether it's through pioneering AI hardware, transforming financial services, or revolutionising online retail, these firms exemplify the impact of British innovation on a global scale. If you're interested in capitalising on the growth and potential of these tech giants, consider opening a CFD trading account with TIOmarkets.uk, an FCA-regulated broker, to explore investment opportunities.
Technology shares can be highly reactive to news events, often resulting in significant market volatility. Such volatility can present news event traders with trading opportunities. However, it is important to note that these opportunities come with considerable risks to your capital. It is crucial to implement strict risk management practices if you decide to trade these volatile share CFDs.
While research has been undertaken to compile the above content, it remains an informational and educational piece only. None of the content provided constitutes any form of investment advice.
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Janne Muta holds an M.Sc in finance and has over 20 years experience in analysing and trading the financial markets.
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