January 29, 2007 | posted by Michael Baxter in IABN |

The AIM market has been making the headlines this weekend.

Time was when the NASDAQ would have been the obvious home for a brave, newish technology company. But in these post Sarbanes Oxley times, it’s not just London’s main market that seems to be stealing the thunder from New York. AIM too is proving a hit.

This Sunday, the newspapers were keen to tell how potential Google rival Acoona is planning an AIM to flotation.

Accona’s big thing is artificial intelligence working within its search engine. The company says that if you type a sentence into Google, the search engine will then search for web sites containing those words. But, or so says the company, with Accoona, web sites will be searched with information that reflects the meaning of the sentence.

Of course, Google came from nowhere to occupy its lofty position, and maybe a listing on AIM, which will value the company at around $700 million, and be used as the vehicle for raising between $50 and $70 million, will catapult Acoona into the dot-com premier league.

On the other hand, the Independent reported that the plan is to eventually sell out to either Google or Yahoo.

Meanwhile, Private Media Group, a pornography provider, is ditching its listing on NASDAQ and listing on AIM instead.

It’s no wonder, London and AIM owner, the LSE is proving so popular with NASDAQ as an acquisition target.

The latest news, however, over the battle between LSE management and NASDAQ for control of the London’s stock exchange company seems to suggest the bid is treading water. NASDAQ still refuses to up its price, even though, recently, shareholders have acquired stock at a higher level than that being offered by the US company.

But what about the other potential US player on the scene?

For the time being, the New York Stock Exchange seems content with its merger with Euronet, and - while at DAVOS - its chief executive, John Thain couldn’t resist the opportunity to fire a shot at London and, in particular, little old AIM.

He said: “anyone could list” on Aim, and warned that London “had to be careful not to damage its reputation by allowing in companies that are not well run.”

No doubt, LSE’s management will be grateful to Mr Thain for the advice, although AIM’s boss, Martin Graham, didn’t seem that grateful, when he told the Telegraph that Mr Thain’s comments were “complete garbage”. Presumably, his gratitude will be tempered by the desire to count the money they are making as tech firms rush towards London.

But there used to be a computer term in common use: “Garbage in, garbage out”. Let’s hope Mr Graham is right, and the only rubbish is Mr Thain’s comments, and that his talk is just motivated by jealousy.