The Pi Holdings group, masterminded by two of the original founders of Computer Management Group, Bryan Mills and Bob Fawcett, has received a UKP1m funding boost. The London-based venture capitalist Alta-Berkeley Associates and the Atlanta, Georgia merchant bank EGL Holdings have provided UKP850,000, with the remaining UKP150,000 coming from a private placing of shares among employees. In return Dr Needham of Alta Berkeley and Dr Ellis of EGL have joined Charles Lumsden from backers Dumenil London as non-executive directors. Although Pi was set up in August last year it first burst into the acquisitive market in May with the purchase of the two IBM houses Timegate Computer Systems and Orion Network Communications (CI No 1,185). It has subsequently acquired SIA and Langton Ltd. The group expects to announce further acquisitions in the US where it is currently looking for a minicomputer services company to complement Orion’s IBM software business. A word to the bewildered: Pi Holdings has no connections with the US company PI Holdings.
