Industrifonden and SEB VC sell Coresonic

The company, which was valued at $35m, will continue to be based in Linköping, Sweden, and develop intellectual property for its new owner.

Previous funding
Industrifonden first invested SEK 10m in Coresonic in September 2007. It invested another €500,000 alongside SEB Venture Capital, which provided €1.5m, in June 2010. This brought the total investment in Coresonic up to around €3m.

Company
Coresonic, founded in 2004 as a spin-off of Linköping University, develops semiconductor intellectual property. Its main product consists of a new processor architecture for digital signal processors, lowering the production costs for telephones.

People
Investment manager Lennart Gustafsson was responsible for the investment at Industrifonden. Ulf Lewander, investment manager, worked on the exit for SEB Venture Capital.

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