Via Venture Partners exits ePocket

Guard Systems acquired 94.1% of ePocket Solutions via its credit facilities, loans and a share emission. The deal valued the company at NOK 74m. Via Ventures will sell the remaining ePocket shares as soon as possible. The transaction will be completed on 7 January 2014.

The acquisition will double Guard System's turnover. Guard Systems will get access to ePocket products Handyman and WPA following the transaction. While ePocket focuses on optimisation of human resources, Guard Systems has so far concentrated on fleet management and physical assets overview. The businesses have several customers in common.

Established in 1992, Guard Systems is a Nordic provider of services for fleet management and mobile objects positioning and retrieval. With 50 employees and operations in nine European countries, the company is expected to post a NOK 66m turnover and an EBITDA of NOK 11m for 2013.

Via Ventures acquired ePocket in 2011, when the firm's portfolio company WPA Mobile merged with ePocket.

Company
Headquartered in Oslo, ePocket Solutions markets and sells standardised mobile software solutions for installation and service companies in Europe. With 70 employees, the company has subsidiaries in Denmark, Sweden and Germany. The company posted a turnover of NOK 68,2m in 2012 and NOK 63,5m in 2011 - EBITDA for these years stood at NOK 5,3m and NOK 700,000 respectively.

People
Reitan Kjell Magnus is the CEO of ePocket Solutions.

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