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Merges wireless firms

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Merchant bank Interregnum is merging two of its subsidiary companies with Red-M (Communications) Limited, creating a combined business which will be floated on the Alternative Investment Market (AIM).

Interregnum Wireless Holdings Ltd, Cellular Design Services Ltd and Red-M (Communications) Limited will form a new company - Red-M Group Ltd. The intention is to float the business within the the next two months.

Michael McTighe is chairman of Red-M, Karl Feilder is chief executive and Simon Saunders, formerly CEO of CDS, becomes chief technology officer.

Red-M provides wireless security products and services, network design and implementation, customers include BAA and T-Mobile. The firm believes that the increasing complexity of the wireless market and the convergence of wireless phone and computer networks will increase demand for network security and management products.

Apax Partners and Amadeus Group, which together with management are the main shareholders of Red-M, are also investing in the firm. ®

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