Coup for region with global player’s move

Jul 17 2008 by Andrew Mernin, The Journal

AN international software firm has completed a £1m deal to launch a research and development centre in the region.

Pulsic, which has offices in the UK, USA and Japan, will open an office in the centre of Newcastle which could eventually take on a number of graduates from local universities.

The company will initially set up a satellite branch and then hopes to move to a larger North East premises once the operation is up and running.

The move comes at the end of a funding round which saw Newcastle-based fund manager NorthStar Equity Investors invest £700,000 in Pulsic through its Co-Investment Fund.

The technology company’s existing investors, Prime Technology Ventures and Index Ventures, also invested £300,000 in the move. Pulsic provides technology solutions used in the custom design industry with software which can be used in various applications such as floor-planning and editing.

Pulsic chief executive Ken Roberts said: “One of the main draws of working in North East England is the wealth of talented graduates coming from its universities.

“Most impressively, through Newcastle University, we have found a specialised engineering degree course that is heavily related to our industry, which means any staff we employ from there will already have a very sound understanding of our business.”

According to NorthStar, Pulsic’s move to Newcastle is a major coup for the North East due to the company’s global reputation.