Swedish company Zenterio, that develops an independent operating system for TV client devices, announces today that they have secured its long term funding needs by raising 10 MEUR, out of which 2,5 MEUR is planned to take place during the fall.
This will position Zenterio for global expansion and enable Zenterio to scale the organization to match the needs of our customers and partners. The investment will be made by Nordic investment firm Scope through its third fund Scope Growth III L.P. Scope will also take a board position.
Zenterio acts on a global market and aims to become a leading operating system for interactive TV client devices.
"We see companies all the time and the market potential paired with Zenterio's position offer a truly unique combination. Through its strong heritage in providing software solutions for TV devices, Zenterio is exceptionally well positioned in the world of interactive TV and I am very excited to join the board on this journey to capture the immense opportunity in this market." comments Fredrik Oweson, Partner Scope
"Having been involved with Zenterio now for six months I must say that the company is even better positioned than I originally anticipated. I am convinced that Zenterio has a unique opportunity to become a leading operating system for digital TV client devices.
The board has carefully selected a long term partner to support the growth ahead. We believe Scope, in addition to the investment, will bring valuable experience to the table"comments Olli-Pekka Kallasvuo, Chairman of the Board of Zenterio.
Former Nokia CEO, Olli-Pekka Kallasvuo, joined Zenterio as Chairman of the Board in the beginning of the year.
An extraordinary general meeting will be held on the 9th of July 2013. Notice for the meeting will be communicated on www.zenterio.com. The investment is made through an issue of new shares and has been supported by more than 2/3 of the current shareholders. The transaction is subject to certain closing conditions.
Zenterio develops an independent software platform, "Zenterio OS", for interactive TV that is positioned to become a global standard. Zenterio's software can be used on any new and existing hardware. With the Zenterio OS, operators can quickly and cost-effectively provide new interactive services and applications.
Zenterio partners with global system integrators, set-top box suppliers, CA/DRM providers, and chip set manufacturers. The company evolved from the former Nokia Home Communication, which Nokia divested in 2002. Its headquarters are in Stockholm, and its R&D center is in Linköping. The company has sales offices in Prague and Milan. Zenterio is an unlisted company and is mainly owned by private investors. The chairman of the board is former Nokia CEO Mr Olli-Pekka Kallasvuo. For further information please visit: www.zenterio.com.
For more information, please contact
Mattias Arnelund, CFO Zenterio
Tel: +46 70 789 58 12
Fredrik Oweson, Partner Scope
Tel: +41 79 628 32 71
The Scope Funds invest in Nordic growth opportunities. The objective is to generate high, risk-adjusted, financial returns in any economic environment. Investments are made in organizations with proven value added and differentiated value propositions.
As an active owner, Scope partners with managements to create companies with internationally scalable platforms that support sustainable growth. Portfolio companies are required to exhibit high growth rates and investments are typically made without, or with very moderate, financial leverage.
For more information please visit: http://www.scope.se/