Lo-Q waves the flag and falls into line

Click to follow
The Independent Online

Lo-Q, the Oxfordshire-based company which has invented a revolutionary new queuing system, is to list on AIM next week after securing a massive contract with the world's second largest theme park operator, Six Flags.

The company was founded by Leonard Sim, who invented the virtual queuing system after having a bad experience at Universal Studios in Florida.

With Lo-Q you are given a bleeper when you enter the theme park, which you use to register for the rides that you want to take. You are informed how long your wait will be, giving you the opportunity to go off and do something else rather than queue for hours. Finally your bleeper goes off, telling you that it's finally your turn.

The system has been tested at Thorpe Park in Surrey, and Lo-Q has just signed a deal with Six Flags, whose 39 theme parks globally – including eight in Europe – make it the second largest attraction operator in the world after Disney.

The deal covers 11 of Six Flags' parks – initially for two years – but with a potential five-year extension. Mr Sim would not disclose the value of the deal, but the parks are worth a multiple of the group's current annual sales.

On the back of the contracts, Lo-Q is to move from Ofex, the matched bargains marker where its shares have been traded for the past 18 months, to AIM.

The listing is being sponsored by stockbrokers Daniel Stewart & Co.

Comments