Devon-based software company DT Media has struck a deal to provide the US Air Force with a product aimed at reducing the risk of ‘friendly fire’ in battle.
Earlier this year Finance South West Growth Fund, managed by YFM Venture Finance, made a significant investment in the company and, thanks to the US deal, DT Media is now looking at substantial growth.
DT Media supplies bespoke training, simulation and animation software products including the Insight Recognition Training System* which was specifically designed to reduce the risk of fratricide or so-called ‘friendly fire’.
Insight is a computer-based recognition training system which provides interactive multi-spectral visualisation of air, land and sea platforms. It formed the basis of NATO’s prototype Combat Identification Training System (NATO CITS), produced in 22 languages, and naval experts have described the software as ‘the best recognition trainer we have ever seen’. Insight will now be used throughout the US Air Force, Air National Guard and Air Force Reserve.
Geoff Tompson, Managing Director of DT Media, is delighted with the company’s successes. He said: “Striking this deal is a real coup for us and of course we are delighted to have the US Air Force on board. The investment from Finance South West has enabled us to expand our business at a faster rate than would otherwise have been possible and we are excited about the future of the company.”
In addition to Insight, which has now been selected by 22 users in 12 countries, DT Media also supplies the Fleetman naval trainer, which is in service with the Royal Navy and the Royal Navy of Oman. Around 90% of the company’s business is for export and customers include the USA, Australia, Germany and Oman as well as the Royal Navy and British Army.
DT Media originally approached regional finance firm Finance South West’s Loan Fund two years ago. Finance experts at Finance South West decided to invest further from its Growth Fund and brought top multiple media expert and retired Royal Navy Commodore Doug Littlejohns CBE on board as a Non Executive Director.
William Jenkins, Investment Manager for the Finance South West Growth Fund, said: “We were happy to invest in such a forward-thinking company as DT Media, which now has an impressive client base, and we look forward to playing a significant part in its future success.”
ENDS
Dated 11/07
Notes to Editors
This press release is available to cut-and-paste from: www.formedia.co.uk/medianews.asp, where high-resolution imagery is also available to download.
US Air Force Insight Facts
Product: Insight Recognition Training System 2007
Description: A computer-based recognition training system providing interactive multi-spectral visualisation of air, land and sea platforms. The computer program consists of end-user updatable libraries, an integrated learning management system and 3D visualization. Insight will allow the USAF to create academic, operational and pre-deployment recognition training courses, as well as supporting aircrew mission rehearsal. In 2005, Insight was selected by NATO as the basis of its prototype Combat Identification Training System (NATO CITS).
Why is it needed? Improvements in air-to-ground targeting sensors have placed increased emphasis on pilot recognition and identification skills. Insight has been designed as a recognition training system that will assist in reducing incidents of fratricide/friendly fire.
What will it be used for? Insight will be used to provide all US Air Force, Air National Guard and Air Force Reserve aircrew, special operations and intelligence personnel with academic, role specific and pre-deployment recognition training through distributive training formats. Insight can also provide valuable multi-spectral visualisation for use during mission rehearsal.
Background to the US Air Force order: The USAF purchased a small number of Insight licenses in early 2004 and, over the past three years, has carried out an exhaustive evaluation of the software to ensure it meets the USAF’s recognition training needs. The purchase of Insight for use throughout the US Air Force, Air National Guard and Air Force Reserve is a direct result of the success of its evaluation of the software.
DT Media Ltd – history: DT Media Ltd began trading in January 2000 in the South Hams area of Devon in the southwest of England. The company employs 13 highly skilled Software Engineers, Technical and Graphic Artists and subject matter experts working in the field of “Serious Games”. The company anticipates expanding its workforce to about 20 personnel by mid-2008 to meet increased demand for its training products. In addition to the Insight recognition system DT Media Ltd also supplies the Fleetman family of naval training systems, which is in service with the Royal Navy at its Waterfront Learning Centres at Devonport, Faslane and Portsmouth and at the RN’s Maritime Warfare School. For further information visit: www.dtmedia.co.uk
Finance South West: Finance South West is an £18 million investment fund that can provide commercial finance from £10,000 up to £1 million for buying, selling, starting or growing a business in the Objective Two area of the South West. The company also offers business planning services and mentoring through a network of qualified professionals and a panel of non-executive directors to help businesses achieve their goals. The Finance South West Loan Fund has invested over £3 million in 58 small and medium-sized businesses, levering £4.5 million into the South West economy and safeguarding 160 jobs and creating 98. The Finance South West Growth Fund has invested a total of £4.1 million in nine companies, levering £13.7 million into the economy and creating or safeguarding 160 jobs. Finance South West is part funded by the EU through the Objective Two Programme for the South West and is an £18m venture investment fund targeting small and medium sized enterprises in this region with a range of equity, mezzanine and debt capital.
For further information visit: www.financesouthwest.co.uk
YFM Venture Finance Ltd (part of the YFM Group)
YFM Group, authorised by the Financial Services Authority, is the UK’s most active investor in the small and medium enterprise marketplace. YFM Group manages in excess of £250 million of funds with investment sizes ranging from £50,000 to £5 million. YFM is located in Leeds, Manchester, London, Plymouth, and Bristol with over 40 investment professionals across the UK. In the South West, YFM Group manages the Finance South West Growth Fund and the South West Ventures Fund.
Doug Littlejohns CBE MBA has joined DT Media Ltd as a Non Executive Director. Doug is former President and CEO of Red Storm Entertainment Inc, a multiple media entertainment, training and simulation company in the USA. He led the company, with author Tom Clancy, to become the eighth biggest PC entertainment publisher in North America in less than three years and was acknowledged for his innovative marketing approach and sound strategies. Since returning to the UK, he has been involved at Board level with a number of companies in the IT, media and production arenas. The former submarine and frigate commander, and MD of Earl's Court and Olympia, will blend his business, software, security and military experience to support the growth of DT Media Ltd, which is based in Totnes at the former home of Charles Babbage, seen by many as the father of modern computing.
Contact
Samantha McKay, PR Manager, Formedia (PR for Finance South West) on: 01752 762120 or email: samantha@formedia.co.uk |
