Hungary/US - 3TS reaps 8.5x in CEE's largest tech IPO
Dedicated CEE investor 3TS Capital Partners has sold its shares in US/Hungarian remote-services technology business LogMeIn, generating a money multiple of 8.5x. The business, set up in Hungary and moved to the US, floated on Nasdaq at a market capitalisation of USD 342m earlier this month, reported by unquote" on 2 July. The flotation is believed to be the largest ever of a CEE-founded technology business. The IPO generated an exit for backers Prism VentureWorks, Polaris Venture Partners, 3TS, Integral Capital Partners and Intel Capital.
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