Press Release 19 March 2007
Industrifonden (SE) and Via Venture Partners (DK) have agreed to invest SEK 20 million in ComActivity – a Nordic-based enterprise software vendor with customers on three continents. In addition, the terms for an additional SEK 20 million within 18 months from the two investors have already been finalized.
The investment proceeds will be used to accelerate ComActivity’s expansion over continental Europe, North America and Asia-Pacific.
ComActivity develops business solutions that develop upon and streamline companies' existing business applications. Rather than replacing old systems, ComActivity modernizes these and renews the company's way of working by integrating several applications into a common user interface, complemented by added functionalities. ComActivity´s solutions are built on a service-oriented architecture, a model driven development method and graphical workflow.
Industrifonden and Via Venture Partners´ combined ownership share will initially be above 20%. After the potential exercise of the additional SEK 20 million option the combined ownership will still be a minority stake.
“Industrifonden and Via Venture Partners have acted as partners throughout the entire investment process which has been very professional and in a very good atmosphere. We are pleased that the investment plan has been designed with the best interest of the founders in mind” says Peter Björkman, founder and CEO of ComActivity.
“ComActivity has developed a very compelling and internationally competitive solution which again demonstrates the innovative power of the Nordic software industry. We are very happy to be able to support the company’s continued expansion”, says Anders Grånäs, Investment Manager at Industrifonden.
“Having such a powerful solution and so many satisfied customers, I believe ComActivity is poised for a very strong position in the new era of enterprise computing”, adds John Helmsøe-Zinck, Managing Partner at Via Venture Partners.
Peter Björkman, ComActivity continues: “With Industrifonden and Via Venture Partners we not only get strong support of two of the largest venture funds in Scandinavia. They also bring very valuable competences to the company through our two new board members Anders Grånäs and John Helmsøe-Zinck”
For more information please contact:
Peter Björkman, CEO, ComActivity, +47 416 792 58
Anders Grånäs, Investment Manager, Industrifonden, +46 734 44 10 01
John Helmsøe-Zinck, Managing Partner, Via Venture Partners, +45 40 10 44 05
ComActivity in brief:
ComActivity develops business solutions that develop upon and streamline companies' existing business applications. Rather than replacing old systems, ComActivity modernizes these and renews the company's way of working by integrating several applications into a common user interface, complemented by added functionalities. ComActivity´s solutions are built on a service-oriented architecture, a model driven development method and graphical workflow.
www.comactivity.net
Industrifonden in brief:
Industrifonden is a large multi-sector, early stage investor in Swedish growth companies. It combines financing with active ownership, competence and networks. It covers the whole country, through its direct investments and eleven associate venture capital companies. It has total assets of MSEK 3,400 and holdings in about 170 companies, direct and indirect.
www.industrifonden.se
Via Venture Partners in brief:
Via Venture Partners is a multistage technology venture investor in the Nordic market focusing on software and communication growth companies, and with DKK 1 billion under management Via Venture Partners is one of the biggest Nordic players in the segment. The main part of Via Venture Partners Fond I K/S's committed capital is contributed by ATP (Denmark’s largest pension fund).
www.viaventurepartners.com