It received sponsorship of over £122,000 from The Garfield Weston Foundation, Lloyds Bank, Alliance & Leicester, Midland Bank, Psion, and Sainsbury's.
The company name is an acronym standing for "Potter Scientific Instruments", after the company's founder, David Potter.
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In 1998, using Psion’s experience in small mobile operating systems, David led the creation of Symbian Limited in partnership with Nokia, Ericsson, Motorola and Matsushita to create the operating system standard for mobile wireless devices - now known as Symbian.
Teklogix became Psion Teklogix in the year 2000, after it was purchased for $544 million (Cdn.) by U.K.-based Psion, started by David Potter.