A WA-BASED technical security firm is raising capital to fund the commercialisation of its new counter-surveillance technology that is targeted at preventing corporate espionage.
Global TSCM Group is hoping to raise about $1.5 million through an offer of up to 7.5 million class A shares at an issue price of 20 cents each.
The company formed an alliance with a technical surveillance countermeasures manufacturer to develop a counter-surveillance system designed to secure sensitive environments such as corporate headquarters, boardrooms, offices of senior management and research laboratories.
The result was the company’s flagship product, the Sentinel R5000 – a system that is permanently installed in a hidden location in, for example, an office and remotely monitored.
Global TSCM CEO Mark Evans described the product as an integrated surveillance system designed to constantly perform sweeps of an area to identify illegal transmitters and hidden camera devices and also provided broad spectrum coverage to detect all current commercially known transmitters.
TSCM Global was formed in April by CEO Mark Evans and managing director Lee Covell with the purpose of developing and commercialising the Sentinel R5000.
Mr Covell and Mr Evans have experience in the technical aspects of security and also own security and investigation firm TIS Australia.
They each have 20 years experience in the investigations and security industries with Mr Covell having worked in the Australian army.
While admitting the nature of the business was very ‘cloak and dagger’, Mr Evans said the demand for counter-surveillance measures in the corporate world was growing across all industries in public and private sectors alike.
He said the demand for a product such as the Sentinel R5000 became evident at a recent security trade-show in Sydney and that increased funds were now required to take the business to the next level.
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