Madge Limited raises £2.0 million in round
led by Sigma Technology Group plc
Madge Limited (“Madge”), a global supplier
of advanced local area networking (“LAN”) product solutions,
has raised up to £2.0m.
Sigma Technology Management Limited led the £2.0m fundraising
with Sigma Technology Venture Fund investing up to £1.33m, with
the balance raised from a private individual. Neil Crabb, a director
of Sigma Technology Group plc, has joined the board of Madge as a
non-executive director. The monies raised will be used to fund Madge’s
further developments in the fast growing Wireless LAN market. Madge
is pioneering next generation networking solutions, which enable easy
and secure deployment of Wireless LANs, whilst protecting customers’ investments
in existing LAN.
Madge is the market leader in Token Ring networking solutions supplying
major enterprises such as Bank of America, Lufthansa, Swiss Railways
and several governments. The Company plans to use its strong position
in this market to fund, in conjunction with this new investment, the
further development of leading-edge Enterprise Wireless LAN products
focusing on security and manageability.
Commenting on the deal, Martin Malina, CEO of Madge, said:
‘
Demand for Enterprise Wireless LAN solutions is growing rapidly. The
new funding will help us to significantly accelerate our product development
plans and to invest in the marketing and sales activities required
to make Madge a successful player in this market.’
Neil Crabb, Joint Managing Director of Sigma Technology Group plc,
added:
‘
We invest in companies that demonstrate strong management and innovative
products in quickly expanding markets. Madge’s leadership in
Token Ring and their exciting plans in the expanding Wireless LAN
market make the company an attractive investment choice.’
Madge was formed via a MBO by its management team in April 2003.
Madge was advised on the fundraising by M&C Ventures Limited,
an independent corporate advisory house, specialising on advising
companies and management teams within the media, retail, leisure and
IT sectors.
Madge Limited - further information
Madge Limited is a global supplier of advanced networking product
solutions to enterprises, and is the market leader in Token Ring
networking. Madge is pioneering next generation networking solutions,
which enable the painless and secure deployment of Wireless networks
in enterprises while protecting customers' investments in existing
LAN’s. Madge's principal business centres are located in Maidenhead,
United Kingdom, Munich, Germany and New York.
Madge and the Madge logo are trademarks, and in some jurisdictions
may be registered trademarks of Madge Limited. Other trademarks
appearing in this release are those of their respective owners.
Information about Madge's complete range of products and services
can be accessed at www.madge.com however if you would like further
information, please contact Madge at:
Madge Limited
Madge House
Priors Way
Maidenhead
Berkshire
SL6 2HP
Tel: (+44) (0)1628 408000
Sigma Technology Management Limited – further information
Sigma Technology Management Limited is the manager of Sigma Technology
Venture Fund, a private equity fund. Sigma Technology Management
Limited is a wholly owned subsidiary of Sigma Technology Group
plc (“the
Group”), an AIM quoted venture capital and advisory firm.
The Group advises, procures funding and invests in companies at
various
stages of development. The Group specialises in working with companies
in the technology, media and telecommunications sectors.
For further details please contact:
Sigma Technology Group plc, www.sigmatech.co.uk
Neil Crabb/James Joyce - Tel: (+44) (0)20 7653 3200
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