3rd March 2020: Cambridge-based Plextek Group has completed the sale of one of its spin-outs, the boutique microwave chip design business Plextek RFI Ltd, to Langford, Essex based CML Microsystems Plc. for an undisclosed sum, thus following the well-trodden Cambridge tech house model.
This represents the first outright sale of one of the Plextek Group companies. These are set up as sister companies and include:
- Plextek Services Ltd (the original technical product design house): which solves today’s hardest engineering problems in sensing, data collection and communications
- Blighter Surveillance Systems Ltd: Best-in-class e-scan radars for border security, counter-drone, perimeter security, wide area surveillance & coastline security, including to Heathrow and Gatwick Airports and civil and defence customers in over 35 countries
- Redtail Telematics: full stack providers of black box telematics to insurers, OEMs and fleets including Admiral, ByMiles, Concirrus, TRACKER Network, LoJack and young driver specialist Ingenie
- Telensa Ltd (now co-funded by ETF and others): a world leading supplier of streetlight metering and management solutions, whose deployments exceed GE and Philips combined.
The marriage between Plextek RFI (PRFI) and CML arose out of a clear strategic alignment. “PRFI’s dedicated and experienced team enhances our
strategy for expansion within communications markets. Their design expertise expands upon the Group’s existing skills and provides a new independent service and consulting income stream for CML” said Chris Gurry, CML’s Group Managing Director.
Plextek Group Chairman Dr Colin Smithers added “We are both delighted and saddened to see Plextek RFI come to maturity and to wave it off into its new beginning at CML where we are sure they will help directly with their strategic goals. The choice of deal partner covered many aspects including a strong cultural fit.”
PRFI will remain based at the Plextek campus in Great Chesterford.
For any queries regarding this release, please contact Colin Smithers directly on +447801398714