Adra Match, the leading company for Reconciliation Management Software, presents financial results for 2011. The annual report shows an exceptional growth in SaaS revenue, continued overall growth and a strong profitability.

Adra Match today publishes financial results for 2011 which show a strong growth in profitability and strong development overall. Key figures for Adra Match include:

• Total operating income increased by 8% to 81,8 MNOK (75,7 MNOK)
• Operating profit EBIT rose by 108% to 17,8 MNOK (8,5 MNOK)
• Software as a Service (SaaS) revenue increased by 74%
• Total growth in recurring revenue is 299 % for the period 2006-2011
• We have now more than 8000 users of our software across more than 3000 companies around the world
• Our customers are now reconciling more than 1.1 billion transactions yearly with our software

Martin Thunman, CEO of Adra Match says: 2011 was a great year for Adra Match. We delivered both a record total revenue and operating profit and continued to add new customers and users across the world. The strong growth in our SaaS revenue is further evidence that cloud hosted solutions provide many advantages for financial applications.

During 2011 we also took a strategic decision to accelerate the investment in our product portfolio, something that will enhance the customer experience and deliver even greater value.

Adra Match has 20 years’ experience in providing software for advanced Data Matching and Reconciliation Management. Our products are primarily used by accounts departments to automate reconciliations. Automatic reconciliation helps organisations to work smarter and quicker, with better control and accuracy. Our solutions streamline and standardise accounts departments and give them an overview of the company’s balancing process at all times.

Adra Match has its head office in Oslo, Norway and offices in Sweden, Denmark and United Kingdom. Among our 3000 customers are Hertz, GE Capital, Old Mutual, IKEA and Telenor.

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RUSNANO, 100% owned by The Government of the Russian Federation, has invested DKK 185 million in Beneq, a Via Venture Partners portfolio company and Finnish pioneer and world-leader in industrial production and laboratory equipment for nano-scale thin films and functional coatings. Beneq is probably the most acknowledged hyper growth company in the nano industry in the world today. The investment is a combination of capital injection and share purchase.

Via Venture Partners invested in Finnish Beneq in 2007 when the turnover was approximately DKK 9 million. Via Venture Partners has continuously actively supported the company with commercial knowhow, project work, as member of the board of directors and follow-up investments. Beneq is now the undisputed global leader in industrial production and laboratory equipment for nano-scale thin films and functional coatings, and the revenue in 2012 is expected to exceed DKK 200 million. A sizeable part of the investment will be a capital increase supporting Beneq’s further worldwide hyper growth.

Sergey Polikarpov, Managing Director at RUSNANO comments: “Beneq is a welcome member in our nanotechnology portfolio. We acknowledge the technical excellence of the company, and the literally untapped economical potential that lies before its thin film coating offering. With a firm belief in the technical capabilities of Beneq and the global surge for thin film production capacity, we want to be a part of the growth that lies ahead”.

Sampo Ahonen, CEO of Beneq, sees paradigm shift possibilities as an effect of the investment: “This investment in Beneq secures continued extraordinary fast expansion of the company’s core business activities serving its customers worldwide. Simultaneous it opens the possibility to pursue new opportunities in new growth markets, including giving excellent knowhow about the important Russian market”.

After the investment Beneq will have two large investors, RUSNANO and Via Venture Partners, and a number of smaller investors, i.e. all the smaller investors from the foundation and the early seed funding rounds of the company. Via Venture Partners will as all other shareholders receive a partial part of the investment due to the sale of some part of VIA shares to RUSNANO. Via Venture Partners owns approximately 30 % of the company post the RUSNANO investment.

Peter Thorlund Haahr, Partner at Via Venture Partners and a Beneq board member, is very positive of the outlook for the company: “RUSNANO is an extremely professional partner and a perfect large co-shareholder to complement Via Venture Partners’ large shareholding now Beneq faces the important even higher growth ambitions of the board and shareholders in the coming years. Of the many possible investors wanting to invest in Beneq RUSNANO stood out as an ideal match, not only from the point of view of Via Venture Partners but from the point of view of all the shareholders including management.”

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