CDC Innovation et al. in €4.7m round for ASK

Details of CDC's co-investors have not yet been disclosed.

CDC Entreprises, CDC Innovation and XAnge Private Equity invested €11m in ASK in 2008. XAnge and CDC Entreprises both invested €5m while CDC Innovation, a returning investor, invested the remaining €1m.

XAnge sold its stake in the business in this latest round of funding, but declined to comment further on the exit.

Company
Established in 1997, ASK specialises in contactless products, including smart tickets, smart cards, readers, eCovers for electronic passports and other official ID documents. Headquartered in Sophia-Antipolis, near Nice, ASK also operates manufacturing sites and subsidiaries in France, China, India, Mexico, Brazil, South Africa and the US.

The company posted a €26m turnover in 2010 - it was loss-making at the time.

People
Valéry Huot is responsible for the investment at CDC Innovation.

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