SWEDEN - Industrifonden and Eqvitec invest SEK 40m in Netadmin
Industrifonden and existing investor Eqvitec Partners have invested SEK 40m in an expansion funding round for Swedish software business Netadmin System i Sverige AB.
The company was founded in 2005 as a spin-off from Wasa Data Systems AB, with the technology having been under continuous development since 1998. It develops software that automates business operation processes in broadband networks. The product is used by telephone operators, municipalities, electric companies, real estate owners and residential broadband network owners, with Netadmin controlling a 60% market share in Sweden. The Linköping-based company employs 50 people.
The capital will finance further international expansion, primarily in Europe. Eqvitec, a minority shareholder, invested SEK 44m in Netadmin via Eqvitec Technology Fund III in 2006.
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