CapMan sells Symbio
(Thomson Reuters ONE) -
CapMan Stock Exchange Release - 19 January 2015 at 17.05 p.m. EET
CapMan sells Symbio
Funds managed by CapMan have sold their holding in Symbio S.A., a provider of
outsourced product development services, to VXI Global Solutions LLC, an
international business process outsourcing services provider. The transaction
has a positive impact on CapMan Group's result for 2015 through approx. EUR 1
million of carried interest income from the exiting funds. The transaction
contributes some EUR 1.2 million to CapMan Group's 2015 cash flow. The result
impact is expected to materialise during the first half of 2015.
Symbio S.A. was founded in late 2009 through the merger of Flander Oy, Ardites
Oy and Symbio Systems Inc. Flander Oy was at the time CapMan's portfolio
company, in which CapMan invested in 2005. Today Symbio is a recognized supplier
in the fast-growing outsourced product development market with special expertise
in software quality assurance and development. Symbio's customers include major
global corporations such as Alibaba, China Mobile, IBM, Intel, Microsoft, PayPal
and Volvo. The company has operations in China, Taiwan, Sweden and Finland and
its headquarters are located in San Jose, USA.
"In five years Symbio has grown into a globally recognized software development
and testing company with top tier clientele. Symbio's organic growth has been
supported by international acquisitions and the company has an excellent
foundation to continue growing successfully together with the new owner,"
comments Vesa Walldén from CapMan Technology and responsible for the investment.
"During our journey together CapMan has provided us with valuable insights and
solid decision-making support. Innovation capability continues to be one of the
main success factors of companies today, and we have now an excellent basis to
continue to serve our global customers in the outsourced product development
market," comments Jacob Hsu, CEO of Symbio S.A.
Prior to the exit, funds managed by CapMan owned approx. 18% of Symbio S.A.'s
shares.
For further information, please contact:
Vesa Walldén, CapMan Technology, tel. +358 400 616 997
Jacob Hsu, CEO, Symbio S.A., tel. +1 (650) 863 8668 or +86 186 0003 4898
Niko Haavisto, CFO, CapMan Plc, tel. +358 50 465 4125 (CapMan financials)
CAPMAN PLC
Hanna Hinkkanen
Communications Officer
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NASDAQ OMX Helsinki
Principal media
www.capman.com
CapMan www.capman.com
CapMan Group is one of the leading private equity firms in the Nordic countries
and Russia, with assets under management of ?3.2 billion. CapMan has five key
investment partnerships - CapMan Buyout, CapMan Real Estate, CapMan Russia,
CapMan Credit and CapMan Public Market - each of which has its own dedicated
investment team and funds. Altogether, CapMan employs approx. 100 people in
Helsinki, Stockholm, Moscow, Luxembourg and London. CapMan was established in
1989 and has been listed on the Helsinki Stock Exchange since 2001.
Symbio S.A. www.symbio.com
Symbio established in 1994, is an international co-creation technology partner
that helps its customers create high quality products and future innovations. By
combining cutting-edge technological know-how, advanced global delivery networks
and customized solutions, Symbio enables high-quality software product
development quickly, cost-effectively and innovatively. Symbio has over 400
customers worldwide and eight development centers across the U.S., Europe and
Asia.
VXI Global Solutions LLC www.vxi.com
VXI Global Solutions is an international business process outsourcing services
provider. VXI Global Solutions LLC specializes in call centre and BPO services,
software development, quality assurance testing, and infrastructure outsourcing.
The company's headquarters are located in Los Angeles, USA, and it employs
15,000 people around the world including locations in Asia and Latin America.
VXI Global Solutions is a portfolio company of Bain Capital Asia.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: CapMan Oyj via GlobeNewswire
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