Press Contact
Maria Montgomerie
Manager Corporate Communications
+46 8 587 919 28, +46 70 64 919 28
maria.montgomerie @industrifonden.se
Press release Aug 12, 2008
Industrifonden and Eqvitec Fund invest SEK 40 million in Netadmin Systems
Stockholm, Sweden: Industrifonden invests in fast-growing Swedish company Netadmin Systems, which develops software that automates business and operation processes in broadband networks. Current shareholder Eqvitec Technology Fund III also takes 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 closed several important delivery agreement deals in Switzerland, England and Norway.”
”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, investment advisors to Eqvitec Technology Fund III.
Contact:
Anders Lindén, CEO Netadmin Systems,
phone +46 (0)13 - 20 00 00, cell phone +46 (0)708 - 550 540,
Åsa Knutsson, Investment Manager, Industrifonden, phone +46 (0)730 - 96 03 00
Hadar Cars, partner Eqvitec Partners, phone +46 (0)735 - 44 58 45
About Netadmin System
Netadmin System i Sverige AB (short name Netadmin Systems) develops and markets NETadmin, a software system that automates operation and business processes in citywide and real estate broadband networks, amongst others. NETadmin is independent of access methods (FTTH, Ethernet, xDSL, Wimax, etc.) and handles hardware from different providers. A particularly noticeable feature is the self-service option, which allows users to activate desired services through a portal interface.
The company has about fifty employees and offices located in Mjärdevi Science Park in Linköping and Stockholm, Sweden, and in Düsseldorf, Germany. Owners include key persons in the company as well as venture funds Eqvitec Technology Fund III and Industrifonden. For more information, see www.netadmin.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 a 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.