Scandinavian software ripe with opportunities

Three Scandinavian software companies have attracted venture capital this month: Social advertising company Xtract in Finland; broadband solutions supplier PacketFront in Sweden; and Milestone in Denmark, a developer of IP video management software for surveillance systems.

The European firm Index Ventures injected EUR17m into Milestone, while Amadeus, ELP and TLCom invested EUR26m in PacketFront, a company EEP has been involved in since 2001. Xtract attracted a consortium of Nordic investors. (Pages 26 & 28)

With two exits also in the software space, the sector remains popular among investors: Nomura et al. exited Operax AB, and CapMan sold Spintop Netsolutions AB to Atea Sverige AB. (Pages 42 & 43).

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