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February 18, 1993


By CBR Staff Writer

Genesis Corporate Systems Ltd, a distributor of Unisys Corp personal computers, networks and Unix boxes and a wholly-owned subsidiary of Panther Holdings Plc, has received UKP200,000 from investment capital group, 3i Plc to fund the expansion of its imaging division: the cash will be used to develop and market new document and data storage systems based on optical disk technology; the division currently turns over about UKP1m, the equivalent of 20% of Genesis’s revenues, but managing director Ian Stiff reckons it will make up 25% of business within two or three years; he said that although only 10% of UK companies use optical disk storage now, he expects this to rise to 60% in the next couple of years; this is the third time 3i has invested in the company – it received UKP25,000 as a start-up in December 1985, and then a further UKP150,000 two years ago to fund a general expansion programme.

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