Hi-Stor Technologies (France) - Nov 2007

ACE Management has invested an additional €2m in data storage solution provider Hi-Stor Technologies. The private equity firm invested both equity and convertible bonds via its funds FCPI UFF Innovation 3 and FCPR Sécurité. Theoretically, no further funding should be required. ACE had already invested €1.5m in the business in December 2005.

Company

Founded in 1997 and headquartered in Colomiers, Hi-Stor Technologies originally integrated data storage solutions and provided outsourced R&D in this field. In 2005, the business re-oriented itself towards the development of proprietary data storage software, targeted at the banking, telecom and media sectors. The new cash injection will enable an expansion into the US market, where the company has agreed a partnership with international group Imation. Hi-Stor aims to reach breakeven around 2008 and currently employs 50 staff.

People

Gilles Daguet and Julien Czajka worked on this deal for ACE Management.

Sourced from: France unquote" 87 (Jan 2008)

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