Wolfson Microelectronics has this morning confirmed plans to float on London's Stock Exchange this year.

The company makes the digital audio chips used in Apple's iPod products. Its technologies appear in products from other manufacturers, including Microsoft. You'll find them in digital cameras, mobile phones, DVD players and games consoles.

Wolfson was spun out of Edinburgh University 17 years ago. It designs so-called mixed-signal chips that convert between analogue and digital signals.

The company's turnover increased 108 per cent for the year ended December 31 2002 to $33.7 million for $3.6 million pre-tax profit. In the six months to June 30 2003 turnover was $29.3 million for pre-tax profit of $4.1 million.

Company CEO and co-founder David Milne said: "The increasing use of digital technology in consumer products is driving demand for our high-performance mixed-signal ICs. We are proud that our chips are used in a range of exciting consumer audio and imaging products.

The company hopes to use the money raised to develop a sales infrastructure, increase product coverage worldwide and to develop its design and testing technologies.