Voddler carries out targeted new share issues and expands the board, preparing for further expansion

Press Release   •   Feb 05, 2010 14:51 GMT

Voddler, the unique Swedish home entertainment service via the Internet, announced today the completion of private placement by Eqvitec Technology Fund III regarding SEK 26 million. A new Voddler board member is also introduced, Hadar Cars, partner of Eqvitec.

Voddler has completed a new share issue providing the company with SEK 26 million in new capital.

- We are pleased with the investment of Eqvitec Fund in Voddler. Eqvitec has well known skills in tech ventures such as Voddler and has a good track record as a leading Scandinavian VC firm. We are well prepared for the company's continued development and expansion, "says Marcus Bäcklund, CEO and director of Voddler.

Hadar Cars, partner of Eqvitec Partners enters the board of Voddler:

- We are happy to have the opportunity to invest in Voddler, one of Scandinavia's most interesting and popular ventures right now. We are looking forward to assist Marcus and the directors of Voddler in the continuing development.

With more than 400 000 Swedish members Voddler showed more than 1 million movies in January alone. International expansion has begun, in which Voddler will launch in Norway, Denmark and Finland during Q1 of 2010.

For more information, contact:
Ellinor Lejman, Public Relations, Voddler Group AB
+46 (0) 8 20 96 31, +46 (0) 705 95 68 88, ellinor.lejman@voddler.com

Hadar Cars, Partner Eqvitec Partners AB
+46 (0) 8 676 65 60, +46 (0) 735 44 58 45, hadar.cars@eqvitec.com

About Eqvitec
Eqvitec Partners  is one of the largest technology oriented private equity firms in Northern Europe. The company was founded in 1997 and employs 10 investment professionals in Helsinki and Stockholm. Eqvitec Partners currently advises three funds with a total capital base of over 300 million euros. The funds invest in technology companies in the expansion stage. At the moment the funds have investments in 30 companies and have carried out over 40 exits. Visit www.eqvitec.com for more information.

About Voddler
Voddler was founded 2005 in Stockholm, Sweden. Its mission is to provide high quality home entertainment on-demand, collaborating with some of the biggest companies in the entertainment business. Voddler is easy to use, legal and accessible around the clock - with high image and sound quality. All you need is an internet connection, computer and an invite to Voddler to enjoy movies and tv-series whenever you want.