Scottish Telecom Firm Lands GBP1.25m Investment to Fuel International Growth

LIVINGSTON, Scotland - Edinburgh based telecoms company, CIQUAL has secured investment of GBP1.25m to accelerate product development and sales to the global marketplace. The investment was financed by a consortium consisting of Par Syndicate and Scottish Enterprise’s Scottish Co-investment Fund. Additionally, with this investment CIQUAL is aiming to create around 20 permanent positions within its Scottish headquarters.

CIQUAL’s Session Insight System provides the missing piece in mobile operators’ mobile broadband strategy. Session Insight delivers an accurate, real-time and dynamic view of mobile broadband service and user experience that enables mobile operators to offer an enhanced service to their customers. With this insight and planned increases to download speeds, coverage and capacity, mobile operators can now compete with fixed broadband providers and deliver one broadband package for home and on-the-move.

Tom Walls, Founder and CEO of CIQUAL said: “We are delighted to be working with Par Equity and Scottish Enterprise. As Lord Carter highlighted in his recent report on Digital Britain, broadband communications are a crucial infrastructure component for a modern economy. At CIQUAL we focus on improving the service performance and experience each of us will have of our mobile broadband connections.”

Paul Atkinson, Partner at Par Equity said: “I am delighted that we have completed this investment and excited to be working with an innovative local company with huge growth potential. CIQUAL is already delivering a world class system to global customers and with this investment we believe that CIQUAL can accelerate the expansion of its business.”

David Grahame, Executive Director of LINC, Scotland’s Business Angel Capital Investment Association said: “We’re delighted to see Par Syndicate making its first investment in Scotland. Par’s contribution to this new round of capital into CIQUAL shows once again that despite the current economic challenges, business angels are still supporting innovative technology companies across Scotland. It is vital for Scotland’s economic prospects that these firms have access to additional capital through the business angel network.”

Campbell Murray of Scottish Enterprise’s High Growth Start-Up Unit said: “CIQUAL is an outstanding example of a young Scottish technology company founded and driven by an intensely focused and high calibre management team. As Scotland’s enterprise, innovation and investment agency supporting businesses with growth potential, we believe CIQUAL has the opportunity to grow rapidly and be a global player.”

Legal advice was provided to CIQUAL and the Par Syndicate by MBM Commercial LLP and HBJ Gateley Wareing LLP respectively. DC Consulting acted as financial adviser to CIQUAL. Key support was received from the high growth start up team at Scottish Enterprise, Scottish Development International and the Wireless Innovation Centre, Scotland’s national initiative for wireless and mobile technologies. Business advisory support was provided by Alba Innovation Centre, where CIQUAL has its headquarters.

About CIQUAL

CIQUAL was founded in 2007 and is engaged with some of the world’s largest mobile operators and device suppliers. CIQUAL works direct with mobile operators in Western Europe and through channel and service partners for the rest of the world. The company has headquarters near Edinburgh, Scotland where the research, development, marketing and customer support functions are located. CIQUAL’s founders have over 70 years’ mobile communications test and measurement experience. www.ciqual.com

About Par

Par Equity was formed in May 2008 with the objective of developing a platform where young companies can gain access both to finance and to the experience, insights and business networks of highly successful entrepreneurs; and where these entrepreneurs and Par managed funds can gain access to a pipeline of potentially interesting investment opportunities. Par Equity is a co-investment partner of both the Scottish Co-investment Fund and the Scottish Venture Fund.

The Par Syndicate, an informal investor (or business ‘Angel’) network, is now actively assessing investment opportunities and Par Equity has recently begun marketing Par Innovation Fund I LP. Par Equity will consider investments of up to GBP2.5 million in small, growing businesses with innovative products, services, technologies or business models.

Further information on Par Equity and the Par Syndicate may be found at www.parequity.com.

About the Scottish Co-Investment Fund (SCF)

The Scottish Co-Investment Fund is a GBP72 million equity investment fund set up by Scottish Enterprise and part funded by the European Regional Development Fund (ERDF). Its mission is to invest from GBP100,000 to GBP1,000,000 in company finance deals of up to GBP2 million.

Contact Information David Bonner Vice President Marketing press@ciqual.com

Source: CIQUAL

Contact Information: David Bonner, Vice President Marketing, Tel: +44(0)1506-592266, press at ciqual.com