CAPMAN OYJ 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
DISTRIBUTION
NASDAQ OMX Helsinki
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http://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.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: CapMan Oyj via Globenewswire
