Business
Portfolio Company Funding
Portfolio Company Funding.
About this update from Parkmead Group Plc
[{"type":"text","content":"\n Interregnum PLC\n13 December 2005\n\n\n\n13 December 2005\n\n INTERREGNUM PLC\n\n Portfolio Company Red-M Completes £4.6m Private Equity Investment Round\n\nFollowing its RNS announcement of 3 June 2005, Interregnum plc ('Interregnum'),\nthe technology merchant bank, today confirms that its portfolio company Red-M\nGroup ('Red-M') has successfully completed a private equity investment round of\nover £4.6m led by Pi Capital. Other investors in the round include Octopus Asset\nManagement, Apax and Interregnum.\n\nRed-M was formed in April 2005 by the merger of Cellular Design Services (CDS),\na wireless consulting services provider, and Red-M Communications, a vendor of\nwireless security probes and monitoring software. The merged company has unique\nintellectual property relevant to wireless infrastructure and security, and its\ncustomers include airports operator BAA, property companies such as British Land\nand Hammersons, telecoms operators (including O2, T-Mobile, 3, BT Wholesale),\nand government agencies.\n\nRoger Jeynes, executive director of Interregnum and non-executive director of\nRed-M, commented: 'This investment will enable Red-M to pursue aggressively the\nhuge market opportunity presented by the growth in wireless networks, and is a\ngreat endorsement of Dave Richmond (Chief Executive of Red-M) and his management\nteam. We are delighted to have Pi Capital and Octopus Asset Management join\nourselves and Apax as significant investors in the group.'\n\nInterregnum will own approximately 20% of the issued share capital of Red-M post\nthis funding round, in addition to some secured debt.\n\n - Ends -\n\nFurther enquiries:\n\nInterregnum 020 7494 3080\nRoger Jeynes 07971 545417\n\nMerlin (PR advisers to Interregnum) 020 7653 6620\nVanessa Maydon\nRebecca Penney\n\nRed-M 01628 819 700\nDave Richmond, CEO\n\nPi Capital 020 7629 9949\nPaul Thomas\n\n\nNotes to Editor\n\n • Interregnum plc (www.interregnum.com) is a technology merchant bank\n listed on London's Alternative Investment Market (symbol: ITR). Established\n in 1992, Interregnum buys, sells, advises, invests in and operates\n technology companies. Its advisory services include corporate finance, IP\n exploitation and commercial due diligence. The company's clients are\n principally corporates, government, technology entrepreneurs, advisors and\n investors...