UNQUOTE

SWEDEN - InnKap et al. acquire 90% stake in Projectplace

  • Rikke
  • LinkedIn  
  • Google plus  

Investor AB's venture arm, Investor Growth Capital (IGC), has, alongside InnovationsKapital and ViaVenture, acquired a 90% stake in Projectplace, a provider of web-based online collaboration tools. The three investors acquire a 30% stake each, while the remainder of the equity will be retained by management.

Stockholm-based Projectplace was founded in 1998. Today, its web tools are available in Swedish, English, French, German, Danish, Norwegian and Deutsch. The service currently has over 450,000 registrered users, from some one thousand companies and organisations. Its clients include both private sector and public sector enterprises.

The company has seen an annual growth of 30% over the past three years, with turnover amounting to SEK 129m in 2008. In addition to organic growth, the new owners plan to continue the business' rapid expansion through acquisitions.

The company has been backed by venture capital firms since 2001, when IGC participated in a EUR 8m funding round alongside Arctic Ventures and i2i Venture.

  • LinkedIn  
  • Google plus  

More on Expansion

Latest News