CapMan invests in LTE Innovations
CapMan Press Release 26 November 2008 at 5.30 p.m.
CapMan Technology 2007 fund has signed an agreement to invest in LTE Innovations Oy, a Finnish telecom architecture consultancy. In conjunction with the transaction, LTE Innovations Oy has acquired the Italian Protocol Products Group (PPG) from Sunrise Telecom Inc. and thereby entered the Customer Service Assurance market. CapMan will work closely with PPG's and LTE's management to transform the new joint entity into a leading Customer Service Assurance (CSA) company within the telecom industry.
LTE Innovations' OSS (Operations Support System) consulting expertise combined with both companies' large clientele of top tier Service Providers makes the new joint venture a significant player in the emerging market for Customer Service Assurance solutions (CSA). CSA allows wireless and wireline operators to manage next-generation voice and data services over converged network infrastructures.
The joint entity, which serves over 180 customers in more than 50 countries, is expected to generate revenue over EUR 8 million in 2008. The new company will be headquartered in Helsinki, Finland.
"PPG has set the standard for monitoring solutions in the emerging market of Customer Service Assurance for next generation telecommunications through its Traffic Analysis and Monitoring System and Mobile X-Ray(TM) Mobile Data Services product lines. By leveraging our strengths and partnerships in the OSS consulting, we have set the foundation for a company that will have a sustainable competitive edge also on a global scale for the foreseeable future," says Jarkko Multanen, CEO of LTE Innovations.
"Operating as a profitable standalone business from day one will afford the new company the opportunity to expand its presence and improve its competitive positioning. For our existing partners and customers, we remain focused on providing the same high-quality products, services and support that have set us apart from the competition in the past years", says Michele Campriani, General Manager of Protocol Products Group.
The execution of CapMan Technology 2007 fund's investment in LTE Innovations Oy is conditional on LTE Innovations Oy's completion of the PPG transaction, which is subject to customary closing conditions and is expected to close by the end of 2008. CapMan Technology 2007 fund's share of LTE Innovations Oy will be approx. 48% after the investment has been closed. Management and employees will hold the reminder of the shares. CapMan Plc is a substantial investor in CapMan Technology 2007.
For more information:
Vesa Walldén, Senior Partner, CapMan Technology, +358 207 207 561 or +358 400 616 997
CapMan is one of the leading alternative asset managers in the Nordic countries and Russia and manages private equity funds with approximately EUR 3.2 billion in total capital. CapMan has six investment areas (CapMan Buyout, CapMan Technology, CapMan Life Science, CapMan Russia, CapMan Public Market and CapMan Real Estate), and each of them has a dedicated team and funds. Altogether CapMan employs 140 people in Helsinki, Stockholm, Copenhagen, Oslo and Moscow. CapMan was established in 1989 and its B shares have been listed on the Helsinki Stock Exchange since 2001.