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8th June 2007

Cambridge Consultants relocates its CEO to the US, expands US headquarters into Cambridge MA

• Accelerate growth as an incubator and spin-off engine
• Better meet surging demand for MedTech, Wireless product design

Cambridge Consultants, a 47-year old product design and technology consulting firm founded in Cambridge, UK, announced that its CEO Brian Moon has relocated to the firm's US offices, effective immediately. With a Ph.D. in biophysics, Dr. Moon has been with the company since 1982 and helped fuel its growth into a global powerhouse for outsourced product design. The move allows Dr. Moon to accelerate expansion of the firm's US product development practices in medical device and wireless technologies - and further its role as an incubator of intellectual property for later spin-off and funding opportunities. From his US base, Dr. Moon will continue to direct worldwide operations of the company. Alan Richardson, chief technology officer based in the firm's UK office, assumes the role of deputy CEO, with Ray Edgson taking over as CTO alongside his current role as Ventures Director.

Cambridge Consultants also announced that the firm's US offices have relocated from the Four Points Channel area of Boston to Cambridge MA, at 101 Main Street. The new location adjoins the thriving medtech, pharmaceutical, and entrepreneurial community. The move also allows expansion potential in support of Cambridge Consultants' plans to quadruple the US staff in three to five years.

Growth through hiring and acquisition

"With nearly 50 percent of our revenuecoming from US firms, it's only natural that Cambridge Consultants has a large footprint in both countries," said Brian Moon. "After a successful few years here, I'm eager to expand on our role in the US as a technology incubator as well as a provider of product development services. Cambridge, Mass. is home to exactly the kind of entrepreneurial engineers that thrive within our portfolio approach to innovation - where we encourage novel thinking outside of our client work and reward engineers for doing so. We're keen on expanded hiring and acquisitions in the coming months that allow us to better serve the medtech and wireless sectors."

Dr. Moon continued, "We also want to further develop what has been the most high profile part of our business, namely the creation of start-up companies. In the past we have done this exclusively with internally-created IP but now, given the wealth of talent in the Cambridge/Boston area, we are exploring the opportunities that we can create with partners, be they academic or venture concerns with causative IP."

Cambridge Consultants has a stellar track-record of incubating then spinning out successful start-up companies. The top four of its UK-listed spin-offs have a combined market value in excess of $3 billion. These include Bluetooth market leader CSR whose market cap is approximately $2 billion, and inkjet printing pioneer Domino, which is valued at $750 million. Spin-offs from Cambridge Consultants collectively employ almost 3,000 people and produced an IRR in excess of 50% between 1999 and 2004 - compared to 9.6% for early stage British venture capital funds during the same period (British Venture Capital Association).

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