Foresight injects £4m into Simulity

The investment, which was made from Foresight's venture capital trusts, will enable the company to develop its own devices and expand into the enterprise markets. Its current business model focuses on providing SIM software for mobile network operators (MNO).

Foresight has a track record of investing in the space, having supported competitor Gemalto, at the time known as Gemplus.

Company
Headquartered in Bangor and founded in 2009, Simulity develops Internet-of-Things-related software, focusing on server and device communications. The company has 45 MNO clients and additional offices in Belfast and Cape Town.

People
Foresight Group – James Livingston (partner).
Simulity – Stephane Fund (CEO).

Advisers
Equity – Hogan Associates (corporate finance); RW Blears (legal); EY (financial due diligence, tax); Neovian (commercial due diligence); Catalysis (management due diligence); MSC R&D (technology due diligence).

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• Topics
• Expansion
• UK / Ireland
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• United Kingdom
• Foresight Group
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