News Room

Cutting edge Software Radio Technology

The Glasgow office of Aberdeen Asset Managers Private Equity today announces that it has provided development capital to Software Radio Technology (SRT). SRT has developed a number of cutting edge technologies for applications in the wireless communication sector.

SRT was a division of Securicor PLC up until 2002 when it was the subject of a BIMBO. Since the BIMBO, the company has been commercialising its technologies, specifically focussing on TETRA (the protocol used throughout the world for secure networks, in particular for Public Services and security forces) and Automatic Identification Systems (AIS), for use in identification in the marine industry.

The team is led by Simon Tucker, Business Development Director, who originally led the BIMBO in 2002 and Shamus Kelly, Managing Director. The management team includes Simon Dallyn (Business Operations Director) and Matthew Rogers (Finance Director). A non-executive Chairman is to be appointed. Judith Mackenzie, Andrew Craig and Stuart Overend led the deal on behalf of Aberdeen. The deal was introduced to Aberdeen by Andrew Lapping of the Hamilton Portfolio.

Andrew Craig, Investment Manager at Aberdeen Asset Managers Private Equity, said:
"We were impressed by how Simon, Shamus and the rest of the team at SRT had transformed the business into a leading provider of wireless communications solutions for the TETRA and Marine AIS/GPS markets. We look forward to working alongside the team as the business enters an exciting new stage in its development."

Shamus Kelly, Managing Director of SRT, said:
"We are delighted that Aberdeen has invested with us. Their investment will enable us to recruit more staff to support our recently awarded contracts. In addition this funding will enable SRT to take on more of the contracts in our sales pipeline more quickly. We look forward to working closely with Aberdeen and are very excited about future prospects."

Due diligence advisors were Campbell Dallas (Financial), BlueZoom (Commercial), Armstrong Craven (Management). Legal advice was provided by Biggart Baillie (Aberdeen) and Cameron McKenna (Management).

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