Sky News has learnt that Cambridge Sleep Sciences (CSS), which develops and licenses sound technology to help users get better sleep, is to gauge interest from prospective buyers.

City sources said its owner, Barkby Group, is working with financial advisers on a strategic review, with CSS said to be valued in the region of £50m.

CSS, which is known for its SleepHub and SleepEngine products, has licensing deals with companies including Masimo Consumer Audio, which owns audio brands such as Bowers & Wilkins, Denon and Marantz.

It has also signed an agreement with Sleep Sense International for its technology to feature in a new Smart Pillow.

Insiders said it was in negotiations to make its technology available to prominent names in the hotel and healthcare sectors which they claimed could double its value.

Barkby is understood to have decided to sell the business to focus on building a portfolio of roadside real estate assets, including drive thru restaurants, convenience retail and EV charging infrastructure.

It also owns a portfolio of pubs and a motor dealership called Centurian Automotive.

CSS is expected to attract interest from both strategic and financial buyers.

A Barkby spokesman declined to comment on Sunday.