Radio Tactics completes fundraising to drive expansion in the American marketplace.
Wednesday, 11 May, 2011
Radio Tactics Ltd www.radio-tactics.com,is pleased to announce that it has successfully completed a GBP 950,000 fundraising providing the company with additional capital to further expand its activities across the United States and fund the opening of the Radio Tactics USA office.
Radio Tactics is a specialist innovator of high-tech digital intelligence and evidence gathering solutions used globally by the military, law enforcement authorities and corporate organisations. Radio Tactics provides cutting edge tools for retrieving evidence and intelligence from mobile digital devices, SIM and media cards.As such devices are now widely used, they can often provide valuable information for professionals investigating criminal incidents, fraud and security issues.
The current financing of GBP 950,000 has been raised via a placing of new shares. Investors included two of Radio Tactic's existing institutional investors Oxford Technology ECF and The Capital for Enterprise Fund and £50,000 was raised in-house from Radio Tactics own staff.
The injection of capital will enable Radio Tactics to:
• Realise existing opportunities in the USA
• Establish an American office
• Hire key personnel in the USA
• Improve the marketing and promotion of products especially in the USA
• Broaden the product portfolio to optimise it for the American market
• Provide sufficient working capital for the company to be able to focus on larger more infrequent opportunities
Andy Gill, CEO of Radio Tactics, commented:
"The Board of Directors are pleased that we have been able to complete this fundraising with minimum equity dilution. The success of this fundraising reflects investor confidence in Radio Tactics' unique technology and provides the financial support for Radio Tactics to continue its expansion across the United States of America."
Dr James Hart, CBE, QPM, Chairman of Radio Tactics, added:
"Radio Tactics already has a proven history of rapid sales growth with demand from the USA and is currently providing products to the US military and Federal Government. This fundraising will enable us to expand our American customer base."
Charlotte Houghton will initially Head the USA Office reporting directly to Radio Tactics CEO, Andy Gill at the company's headquarters in Southampton, UK. Charlotte relocated to America in 2010 to begin setting up operations and to be on hand to assist Radio Tactics' existing USA customers.
The fundraising will also allow Radio Tactics to develop new products to meet the rapidly growing market demand. Mobile device information is vitally important to every investigative, security or defence agency. Radio Tactics is set to continue to realise existing US opportunities within prison security, law enforcement agencies, fraud and tax evasion investigation, borders protection, coastal protection, anti piracy and anti drugs operations and military intelligence requirements.
