Aims to double turnover and increase headcount over next 18 months
26 July 2005 –TSSI Systems, the document and personnel identity specialist, today announced a £3.5 million investment by active management venture capitalist, ACUS Management Partners. Danny Chapchal, chairman, ACUS Management Partners has also been appointed executive chairman of TSSI.
Based in Swindon, UK, TSSI is a world-class manufacturer of document verification, fingerprint biometrics and identification systems solutions.
Chapchal's primary goal as chairman will be to improve the commercial exploitation of TSSI's intellectual property portfolio. Chapchal has a strong track record with other technology companies, including Camcon Technology, CDT and Post Impressions.
TSSI will use the new investment to expand its manufacturing capability and develop its R&D, marketing and sales resources. It aims to double turnover in the next 18 months and increase headcount accordingly. ACUS is also pursuing merger and acquisition opportunities that would enable TSSI to broaden its product portfolio.
TSSI's target markets include healthcare entities, retailers, airports and financial institutions. Its blue chip customer list includes Group 4 Securicor, NHS and the John Lewis Partnership.
“TSSI is a typical British technology story. It has developed world-class technology and secured deals with world-class customers. But it hasn’t communicated and built upon its success. I plan to change that,” said Danny Chapchal, Chairman, TSSI.
- ends -
TSSI, based in Swindon, UK, is leading supplier of technology solutions for the identification and verification of personnel and documents. Its document verification, fingerprint biometrics and identification systems are used in over 20 countries worldwide; wherever proving the identity of individuals or document is a necessity. For further information, check: www.tssi.co.uk.
Stephen Waddington / Sarra Mander
Tel: +44 (0)20 7494 6570
email@example.com / firstname.lastname@example.org
This press release was distributed by ResponseSource Press Release Wire on behalf of Speed Communications in the following categories: Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.