Parkmead Regulatory News (PMG)

13 Dec 2005 13:24

Interregnum PLC13 December 2005 13 December 2005 INTERREGNUM PLC Portfolio Company Red-M Completes £4.6m Private Equity Investment Round Following its RNS announcement of 3 June 2005, Interregnum plc ("Interregnum"),the technology merchant bank, today confirms that its portfolio company Red-MGroup ("Red-M") has successfully completed a private equity investment round ofover £4.6m led by Pi Capital. Other investors in the round include Octopus AssetManagement, Apax and Interregnum. Red-M was formed in April 2005 by the merger of Cellular Design Services (CDS),a wireless consulting services provider, and Red-M Communications, a vendor ofwireless security probes and monitoring software. The merged company has uniqueintellectual property relevant to wireless infrastructure and security, and itscustomers include airports operator BAA, property companies such as British Landand Hammersons, telecoms operators (including O2, T-Mobile, 3, BT Wholesale),and government agencies. Roger Jeynes, executive director of Interregnum and non-executive director ofRed-M, commented: "This investment will enable Red-M to pursue aggressively thehuge market opportunity presented by the growth in wireless networks, and is agreat endorsement of Dave Richmond (Chief Executive of Red-M) and his managementteam. We are delighted to have Pi Capital and Octopus Asset Management joinourselves and Apax as significant investors in the group." Interregnum will own approximately 20% of the issued share capital of Red-M postthis funding round, in addition to some secured debt. - Ends - Further enquiries: Interregnum 020 7494 3080Roger Jeynes 07971 545417 Merlin (PR advisers to Interregnum) 020 7653 6620Vanessa MaydonRebecca Penney Red-M 01628 819 700Dave Richmond, CEO Pi Capital 020 7629 9949Paul Thomas Notes to Editor • Interregnum plc (www.interregnum.com) is a technology merchant bank listed on London's Alternative Investment Market (symbol: ITR). Established in 1992, Interregnum buys, sells, advises, invests in and operates technology companies. Its advisory services include corporate finance, IP exploitation and commercial due diligence. The company's clients are principally corporates, government, technology entrepreneurs, advisors and investors. • Pi Capital is an independent private equity house investing in growing UK unquoted businesses. It specialises in smaller buyouts and expansion capital for businesses seeking £1.5 million to £5 million across a range of sectors. What makes Pi Capital different is that it represents a network of the UK's most successful entrepreneurs and business builders, whose diverse and unique contacts and skills can add real value to the companies Pi Capital supports, both during due diligence and post investment. Private Investor Capital Limited is authorised and regulated by the Financial Services Authority. Further information can be found at (www.picapital.co.uk). This information is provided by RNS The company news service from the London Stock Exchange