A mail order computer games company backed by the former fund management boss Carol Galley is joining the alternative investment market through a takeover of a cash shell, Willisham.

Dream Direct, which sells games such as Who Wants to be a Millionaire, Scrabble and Harry Potter, will have a market capitalisation of £7.58m after the deal, with the shares priced at 88p.

Among the largest shareholders is Ms Galley, who was regarded as the City's most powerful woman when she was co-head of the investment firm Mercury Asset Management. She has a 4.78% stake, worth around £250,000.

Dream Direct's chief executive, Robert Colquhoun, said going public was intended to raise the firm's profile. "We hope it'll give us enhanced status and credibility within our industry," he said.

Dream Direct specialises in the "family" segment of the games market, with software appealing to adults as well as children. Big sellers include Family Tree Maker and Hornby Virtual Train Set, although the company also sells adult-only products such as the Encyclopedia of Making Love and the Ultimate Sex Guide.

The mail-order firm will raise £300,000 of new cash from investors and will inherit £1.8m from Willisham, a former farming company.