AlwaysON and Foresight Group agree on Major Investment

Aug. 23, 2010 - PRLog -- AlwaysON Group ("AO") today announces that Foresight Group has agreed a major new investment and acquired a majority stake in the Company in order to accelerate new product and revenue growth and facilitate core MPLS network and application enhancements.
Along with the acquisition Martin Peck has been appointed as the interim CEO to conduct a strategic review of the business and spearhead the immediate growth phase. Martin is a chartered accountant and is a well experienced technology executive and an investor with a successful track record in working with high potential SME enterprises.

Announcing the investment Martin Peck said "This is a great opportunity to take the business forward and seek to build on AO's shining reputation for working in secure and complex MPLS communications environments. The Company has been particularly strong in working with remote/multi-location customers especially in construction, security and the public sectors (local and national). The immediate priority has been to strengthen the core network and the team. Our next challenge is to extend growth into new sectors and to exploit AO's technical prowess as a leading provider in Unified Communications where we have established a particular expertise in large Microsoft OCS installations integrated into the public telephone network."

Russell Healey, AlwaysON Director speaking on behalf of Foresight Group said "We have seen great potential in this market and the opportunity to secure a controlling position and to invest further in AO provides an excellent prospect and is a good fit for our technology investment criteria."

                                                          #END#


Contacts:
Martin Peck, CEO, AlwaysON: t: +44 (0) 845 241 8330 | e: mpeck@alwayson.co.uk

Russell Healey, Foresight Group: t: +44 (0) 1732 471819 | e: rhealey@foresightgroup.eu

# # #

Notes:
AlwaysON (www.alwayson.co.uk) is a secure MPLS Managed Network provider enabling location and remote site/worker connectivity for the transmission of data, video and voice traffic. AO also implements, hosts and manages a range of Unified Communication applications including collaboration software like Microsoft OCS and security products (Firewalls and content filtering).

Foresight Group (www.foresightgroup.eu) is an alternative asset manager with a strong 25 year track record and specific expertise in environmental infrastructure, solar energy and private equity. The group has over 200 years of collective investment experience and offers entrepreneurial managers capital and hands-on expertise to create long-term value and generate higher returns for shareholders. Foresight Funds are quoted on the London Stock Exchange and currently have over £200 million of funds under management.