SWEDEN - STING Capital exits HULU

HULU has developed a complete line of interoperable WiMAX base stations and CPE products for homes and offices. The products enable network operators to wirelessly provide broadband internet and telecom services through Ethernet, Wi-Fi or USB connection at the customer's premises. The company is based in Solna and Stockholm.

Vestby- based Gipz specializes in fixed wireless infrastructures. It has approximately 10,000 customers and generates a turnover of around SEK 90m. The group is currently expanding its business internationally, and the acquisition of HULU is consistent with plans for future deployments which will include Mobile WiMAX solutions. STING Capital invested SEK 2m into HULU in March 2008. The sale of the company marks STING's first exit.

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