Testing and certification company RFI Global Services has been sold to US-based Underwriters Laboratories, allowing an exit for Albion Ventures.

Testing and certification company RFI Global Services has been sold to US-based Underwriters Laboratories, allowing an exit for investor Albion Ventures.

Albion’s venture capital trusts (VCTs) have invested £2.2 million in Hampshire-based RFI since 2006, and will receive up to £4.7 million from the sale, including interest paid over the course of the investment.

Ed Lascalles, a partner at Albion, said the company has grown since 2006 without bank borrowing and benefited from developments in the mobile payments industry.

RFI provides testing and consultancy services to companies in the mobile payment and smart card sectors. The company will be integrated into Underwriters Laboratories’ existing verification services business.