CapMan announces intention to exit Connode to Cyan
(Thomson Reuters ONE) -
CapMan Press release 14 June 2016 at 2.00 p.m.
EEST
CapMan announces intention to exit Connode to Cyan
Funds managed by CapMan have signed a Share Purchase Agreement, which details
CapMan's intention to sell its holding in Connode Holding AB to UK-based Cyan
Holdings plc, a market leader in narrowband mesh technology for energy, lighting
and the Internet of Things (IoT) in emerging markets. Cyan's acquisition of
Connode is subject to shareholder approval to be sought at a Cyan general
meeting to be held on 30 June 2016. Connode is a leading provider of wireless
mesh communications for the IoT.
"Connode has recently reached several important milestones in terms of contracts
and projects. This transition in ownership allows the company to continue
developing its communications solution for the global IoT market," says Lennart
Jacobsson, Chairman of the Board of Connode and Senior Advisor at CapMan.
Funds managed by CapMan originally invested in Connode in 2004. Connode is the
final portfolio company of the Swedestart Tech KB fund and the penultimate
company of the CapMan Equity VII generation technology funds.
For more information, please contact:
Lennart Jacobsson, Senior Advisor at CapMan, tel. +46 705 55 10 50
CapMan www.capman.com
CapMan is a leading Nordic investment and asset management company. For more
than 25 years, we have been developing companies and real estate and supporting
their sustainable growth. We are committed to understanding the needs of our
customers in an ever-changing market environment. Our objective is to provide
attractive returns and innovative solutions for our investors and value adding
services for professional investment partnerships, growth-oriented companies and
tenants. Our independent investment partnerships - Buyout, Real Estate, Russia
and Nest Capital - as well as our associated company Norvestia are responsible
for investment activities and value creation. CapMan's service business offering
includes fundraising advisory services, purchasing activities and fund
management services to both internal and external customers. CapMan has 100
professionals and assets under management of ?2.7 billion.
Connode www.connode.com
Connode, headquartered in Stockholm Sweden, is the leading supplier of wireless
communication products for the Internet of Things. Connode wireless technology
is the result of 10 years development of large-scale wireless mesh networks.
Since 2006 utilities and telecom operators have deployed Connode-enabled devices
in large-scale projects in Europe, Middle East and Asia. Connode is a key
supplier of mesh technology to the UK Smart Metering Programme.
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
[HUG#2020510]
Unternehmensinformation / Kurzprofil:
Datum: 14.06.2016 - 13:02 Uhr
Sprache: Deutsch
News-ID 477608
Anzahl Zeichen: 3526
contact information:
Town:
Helsinki
Kategorie:
Business News
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