The company was supported by technology entrepreneur Mike Lynch, who passed away this week.
Based in Cambridge and founded in 2008, Featurespace is reportedly in advanced discussions to complete a sale, according to information obtained by News.
This weekend, estimates of its possible worth differed; one source suggested it would be worth over £700 million, while another suggested its final value might be less.
However, sources warned that a deal was still subject to change and had not yet been legally agreed upon.
Only a few days have passed since Mr. Lynch and his daughter passed away on board the superyacht Bayesian.
An investor expressed that the sale to Featurespace would underscore the significance of Mr. Lynch’s sponsorship of prosperous British start-ups.
Invoke Capital, Mr. Lynch’s investment firm, holds a minor share in Featurespace. For eleven years, he was a non-executive director of the company.
Without Mike, there is a strong statistical likelihood that Featurespace would not be a successful technological business.
