Colonial First State Private Equity invests in Technisyst

BRISBANE, QLD, 23/6/2004

Wireless computing specialist Technisyst Pty Ltd is set to expand its operations throughout Australia, New Zealand and offshore after securing an expansion equity investment of $3.8M from Colonial First State Private Equity.

The investment follows excellent performance by Technisyst in its key public safety market, where it has quickly become the leading supplier of wireless data solutions, with recent contract wins in the Australian Capital Territory (ACT Ambulance and Fire), South Australia (Police), New Zealand (Ambulance) and Western Australia (Fire and Emergency Services).

This success builds on Technisyst's earlier successes in Queensland and New South Wales. The company built a Mobile Data Solution for the Queensland Department of Emergency Services in 2001 which is used extensively by the Queensland Ambulance Service.

Technisyst is currently delivering a Whole-of-Government Mobile Data System in New South Wales. While this System has been built for use by all NSW Government agencies - the Ambulance Service of New South Wales is the first agency onto the new network.

"Technisyst is used to competing against and beating multinational industry heavyweights, so it is great to have the calibre of Colonial First State Private Equity as a key shareholder" said Technisyst CEO Bill Delaney.

Investment Director at Colonial First State Private Equity, Nitin Singhi, commented that "We were attracted to Technisyst because of its strong market position in public safety in Australia, its track record of growth and the significant opportunities in wireless data in Australia and offshore".

Technisyst also supplies its mobile data products into the Intelligent Transport Systems market, where its TC-Gateway and TC-Connect products deliver the wireless connectivity for the large Smart Bus project being deployed in Auckland, New Zealand.

The Colonial First State Private Equity investment will see Technisyst accelerate its move into the mobile worker market where the company is applying its public safety proven job dispatch and vehicle tracking software to small, medium and large commercial organisations wishing to communicate wirelessly with their mobile resources.

The equity raising was managed on behalf of Technisyst by KPMG.

About Colonial First State

Colonial First State Private Equity is committed to funding high growth companies throughout Australia and New Zealand. Since 1984, Colonial First State Private Equity has invested in over 75 companies, and assisted them with the implementation of their growth plans. http://www.cfspe.com.au/