Interregnum Plc, the UK-listed technology investment firm, has acquired Cellular Design Services in a deal valuing the engineering business at £1.5 million (€2.2 million; $2.75 million).
The investment is the second completed by the London-headquartered business since it announced a change in its investment strategy. The firm, traditionally a minority shareholder in venture capital-backed technology companies, last October said it would seek to acquire majority and principal finance positions in technology companies in order to have a greater impact on strategic and operational management.
“The acquisition of CDS is a clear step forward in the execution of Interregnum’s strategy of taking principal finance positions in companies, as well as traditional venture capital investments,” said Ken Olisa, chairman and chief executive of Interregnum.
The firm’s first principal finance transaction under the new strategy was the acquisition of Yospace, a provider of multimedia messaging and services to major wireless networks, which completed last year.
Interregnum is currently investing from a €30 million fund raised in 2000. The firm is currently raising a €100m fund for additional investment in the technology sector.
Cellular Design Services was set up in 1995 and provides specialist radio frequency engineering services in wireless network design, coverage planning, coverage testing, site implementation, network optimisation and maintenance. client base encompasses the mobile network operators, equipment vendors, site operators, and large corporate customers seeking solutions to their in-building wireless needs. CDS employs 46 people.