As concerns mount over fears of a technology bubble – with internet companies achieving astronomic valuations on their flotations – one lower profile technology company has also managed to give itself a $1bn-plus valuation.

Bats Global, the US alternative exchange operator, has become one of the more recent technology companies to get in on the act to float its shares. The Kansas City-based group said on May 13 it is planning to raise $100m for what it has termed "general corporate purposes" and advance its challenge to incumbent exchanges.