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| Industrifonden and Eqvitec Fund invest SEK 40 million in Netadmin Systems |
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Industrifonden becomes an active partner of fast-growing Netadmin Systems, a Swedish company, which develops software that automates business and operation processes in broadband networks. Netadmin’s present investor Eqvitec Technology Fund III also has a part in the SEK 40 million funding. The money is to be used for further international expansion of the company, primarily in Europe. The company’s product, NETadmin, is a fully automated system for broadband networks and city networks and has been very well received by the market. The company is the Nordic market leader and has a sixty percent market share in Sweden. The fully automatic system is very advantageous to end users and broadband network owners alike. Users can, through a portal, choose desired broadband services on their own and access them immediately. It is possible to pick an Internet service provider, for instance, or to temporarily subscribe to a TV channel of choice. To the network owner, the system means that operation costs can be cut in half and/or that existing staff will be able to handle several times the current number of users. The system also offers valuable flexibility when connecting new service providers or launching new services, such as IP telephony and HDTV, in the networks. Customers include telephone operators, municipalities, electric companies, real estate owners and residential broadband network owners. Examples include Telia, Tele 2, Teracom, Telge Nät AB and Transit in Sweden, Dong (Denmark), StarNordic (Norway), VLP (Finland), Zürich City Network (Switzerland), INFL (England), and SIEA (France). ”Sweden, with its 155 city broadband networks, is a leading country. More and more citywide and residential broadband networks are established quickly all over the world, which is why Netadmin Systems, with its strong home market position, has excellent possibilities for international expansion,” said Anders Lindén, CEO of Netadmin Systems. “During the first six months alone, we have struck several important delivery agreement deals in Switzerland, England, Norway, and other contracts.” ”Netadmin Systems offers user great freedom of choice and flexibility, while also bringing network owners big savings,” said Åsa Knutsson, Investment Director of Industrifonden. ”This bodes well, now that the company is facing international expansion on a growing global market.” “We welcome Industrifonden as a strong owner. This will enable Netadmin to gear up in its current and so far successful investments on the European market,” said Hadar Cars, partner of Eqvitec Partners, the investment advisor to Eqvitec Technology Fund III. About Industrifonden Industrifonden invests in Swedish growth industry in most types of business. Industrifonden offers two types of funding: development funding to young companies and expansion funding to more established companies wishing to expand. The fund has assets of SEK 3.5 billion, of which roughly SEK 1.5 billion is invested in more than a hundred companies. For more information, see www.industrifonden.se About Eqvitec Partners Eqvitec Partners is one of the largest technology focused venture capital and private equity firms in Northern Europe. The company was founded in 1997 and employs 15 investments professionals in Helsinki and Stockholm. Eqvitec Partners currently advises 6 funds with the total capital base of 500 million Euros. The funds invest in technology companies in all phases from start-up to buyouts. At the moment the funds have investments in 40 companies and have carried out 35 exits. More information can be found at www.eqvitec.com |