Expansion Plans a Reality for Swindon-Based CMS Global Technologies Ltd following Investment from South West Ventures Fund
17th January 2006
Expansion plans are now on the agenda for a successful and motivated Swindon-based
company specialising in the provision of wireless communication solutions, following
investment from the £25 million South West Ventures Fund.
CMS Global Technologies Limited (CMS) was founded in 1992 and has established itself as an innovator in wireless data mobility solutions.
The company has secured £250,000 from the fund, which was set up to make venture capital available to small and medium-sized enterprises (SMEs) with high-growth potential in the South West region. CMS has also secured further funding through the DTI's Small Firms Loan Guarantee Scheme.
In recent years CMS has emerged as a successful application service provider (ASP) with its Logistix modular back office software and bespoke wireless mobility solutions for clients in the transport, courier and distribution sectors needing to control and track vehicles and staff who work remotely. The range of services has recently been expanded with the introduction of its Open Wireless Platform (OWP) which supports complete end-to-end wireless communications solutions.
The OWP technology has already been adopted by a diverse range of service partners and customers. Notably, CMS recently secured the mobility partner contract for Christian Salvesen's rollout of rugged and non rugged wireless devices to its entire UK driver fleet, including fixed vehicle tracking and fleet telematics.
OWP has also been adopted by Bridisco for a worldwide wireless domestic security camera product and by ASLH Ltd who specialises in smart energy metering and has integrated the technology in its latest product release.
The investment will enable the company to exploit a number of potential growth opportunities that have been identified by the senior management, in addition to supporting its recently secured contracts.
Explained Jason Airey, Chief Executive of CMS: "We are delighted to have secured this funding as it will provide us with the capacity to expand our client base further. We've already identified a number of growth opportunities within sectors outside our current core client base. These include sectors such as utilities, airside services, NHS and field service maintenance that have in common the employment of mobile workers."
Jason added: "As a company we believe in setting standards for future technology and strength of our product offer is that clients can upgrade their requirements without having to revert to new technology and all the costs this implies."
"Over the last few months we have developed a strong relationship with the South West Ventures Fund team and have benefited enormously from their experience and business advice. Introduced to us by the fund, Colin Allison will be joining our team as Non- Executive Director. Colin has a broad range of experience that will benefit us as we expand our operations and we look forward to welcoming him on board."
Speaking about this latest deal, Simon Griffiths from South West Ventures Fund said: "This investment is extremely promising as it combines the enthusiasm and resourcefulness of an experienced team with an exciting technology that offers excellent future potential.
"We are particularly encouraged by the range of sectors for which this OWP Technology can offer tangible benefits and cost effective solutions."
The professional team involved in finalising this deal include Rob Collier from Veale Wasbrough in Bristol; Jonathan Payne from Thring Townsend in Swindon and Grahame Harbour from Bentley Jennison who provided financial advice.