FINLAND - Sentica closes latest fund above target on EUR 113m

Sentica Buyout III received commitments from 15 LPs in total. The firm aimed to attract more international investors to its fund, having previously targeted Finland-based investors, and subsequently about one third of LPs in the vehicle are European fund-of-funds.

Sentica Buyout III will invest in companies with enterprise values of EUR 15-20m, committing EUR 5-15m per transaction.

Sentica has recently closed the first investment from the fund: jointly acquiring Finnish IT providers Descom Oy and Integware Oy. Sentica holds a 70% stake in the new entity, Descom, with the remainder held by management.

Descom's service offerings are based on IBM software technology, and going forward it will focus on tailor-made e-commerce solutions and system integration solutions. In 2009, the joint entity will generate turnover of EUR 10m. It employs 100 people.

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