Verdane and Nexit sell Octoshape to Akamai

The deal will see Akamai wholly acquire Octoshape in an all-cash transaction.

Verdane's exit comes two years after Verdane Capital VII acquired Octoshape as part of the GP's purchase of Nordic Venture Partners' (NVP) Fund I portfolio for an estimated DKK 300m.

Akamai's acquisition of the Danish company will also mark the end of Nexit Ventures' five-year involvement in Octoshape, having first backed the business in 2010 through the VC's 2008-vintage €85m Nexit InfoCom II fund.

The enterprise value of the deal has not been made public, with Akamai stating the acquisition will not have a material impact on its financials.

The sale of Octoshape is Verdane's second exit from the NVP portfolio, having sold clinical data business CRF Health to Vitruvian Partners in January this year.

Previous funding
Octoshape received its first venture funding in April 2009, when Nordic Venture Partners and NorthCap Partners invested an undisclosed amount.

A year later, in June 2010, Nexit followed up with a €4m expansion investment from Nexit InfoCom II.

Verdane took over Nordic Venture Partners' stake in December 2013, when it acquired the VC's first fund portfolio and the advisory contract for its second fund for around DKK 300m.

Company
Octoshape was founded in 2003 and develops technology to enable high-resolution streaming services such as streaming video and network optimisation.

The company employs 40 people and is based in Copenhagen.

People
Lars Thoresen is co-managing partner at Verdane Capital. Michael Koehn is the CEO of Octoshape and Tom Leighton is the CEO of Akamai.

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• Topics
• Nordics
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• Denmark
• Verdane Capital Partners
• Trade sale