CATAPULT MAKES INVESTMENT INTO ZINWAVE

Catapult Venture Managers has completed its third transaction in less than two months with a significant investment into Cambridge-based Zinwave, developers of a unique active wideband in-building antenna system.

It has invested alongside existing investors Scottish Equity Partners, Atlas Venture and SEB Venture Capital. In addition, Catapult has introduced telecommunications expert Geoff Finch as a Non Executive Director.

Jonathan Earl, Investment Director with Catapult, says that the funding will help enable Zinwave to increase manufacturing output to meet the increased demand and potential of the US and Asian markets, as well as looking to gain a foothold in the Middle East.

He commented: “The Zinwave technology facilitates a single system solution for all wireless services. Modern building materials can significantly block radio signals from outside, but the IBW (in-building wireless) solution from Zinwave can ensure that reception is as good inside as outside a building.

"We believe Zinwave to be very well positioned in a rapidly growing market as a result of its unique wideband product.

“It has generated impressive sales traction, has its product installed on a number of prestigious reference sites and has recently secured a number of new sales channels.

Zinwave has a highly experienced and effective management and we are confident in their ability to deliver and manage significant further growth."  John Forrest, Chairman of Zinwave commented: "We expect growth to accelerate further throughout 2010/11, fuelled by the increasing importance of reliable emergency service communications in buildings, as well as uptake of emerging higher frequency technologies and services including 3G and 4G.

“This commitment from Catapult and our existing investors, will allow us to build on our sales success in US and Asia, accelerating our growth and reach in the market. In parallel with the investment, we are particularly excited that Geoff Finch, former Board Director at BT, will join the Zinwave Board as a non-executive director.”

Legal advisor to Catapult Venture Managers was Duncan James, Berryman

Legal advisor to the existing investors was David McGrory, MMS

Zinwave’s legal advisor was Mark Satterly, Eversheds

Financial due diligence was carried out by Andrew Pearson, Waypoint Investors, LLP.

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For further information please contact Jonathan Earl at Catapult Venture Managers on 0116 238 8200 or 07980 974422; or Paul Shrimpton at PSPR Ltd on 0121 3543 7311 or 07979 505322.

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