CWSI raises £17.5M funding from Castlegate

CWSI has secured £17.5m in growth capital led by private equity fund Castlegate Investments to accelerate its European expansion.

The funding sees CWSI acquire Blaud, a mobility and security specialist based in Utrecht, Netherlands. Post-acquisition CWSI forecasts annualised revenues of over £16.5m with UK and European markets contributing 75%.

CWSI will extend the market for Blaud’s application development services into the UK and Ireland.

Ronan Murphy, co-founder and CEO of CWSI, said: “There is an overlap in our solution areas, value propositions and company cultures and both organisations have representation in the Criminal Justice and Public Health sectors.”