CWSI appoints Menton as chairman amid €1m funding talks
A MOBILE phone security business has made a number of senior board and management appointments amid a drive to raise fresh funds.
CWSI, whose clients include AIB, Ryanair and Irish Life, has appointed St Vincent’s Health- care Group chairman Jimmy Menton, a former partner at accountancy firm KPMG, as chairman of its board.
It has also appointed experienced industry player Conor English as a non-executive director.
Mr English has expertise at providing insurance services to mobile operators and has launched businesses in Asia and the Caribbean.
The company has also appointed Paul Line as head of managed services for the UK.
Mr Line was part of the management team that listed Australian telecoms business Inabox Group on the Austral- ian Stock Exchange in 2013. CWSI founder and CEO Ronan Murphy said the appointments reflected “the company’s ambitious plans to grow its business operations in Ireland, the UK and Europe”.
The business has appointed corporate finance advisers Focus Capital to manage a fundraising round set to value it at €10m.
It is reportedly looking to raise €1m.
Current backers of CWSI, which employs 30 people, include Enterprise Ireland and a number of private investors.
Mobile industry veteran Mr Murphy sold retail business Cellular World to Digifone in 2001 and has been involved in a number of businesses in the sector since then.
Other CWSI clients include bookmakers Paddy Power Betfair and UK Asset Resolution – the UK Government Agency responsible for managing banking bad debts.