AU-System Closes Agreement with IT-Provider, web-angel and McKenna Venture Accelerator for Financing and Creation of New Innovative Companies.Business Editors STOCKHOLM, Sweden--(BUSINESS WIRE)--April 3, 2001 AU-System has signed an agreement with IT-Provider, web-angel plc and McKenna Venture Accelerator (MVA MVA abbr. motor vehicle accident MVA Motor vehicular/vehicle accident, see there ). The agreement entails that the three venture capital companies will contribute with financing, strategic advice and assistance of AU-System's mobile Internet Refers to gaining access to the Internet using a lightweight, handheld device. See Mobile IP, PDA, smartphone and mobile TV. product development operations. The agreement secures up to SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 300 million in financing of new product companies over a period of three years. Each new company is guaranteed financing for 18 months. In conjunction with this, all activities relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc product generation will be delegated to a new jointly owned company. "We've had many prospective partners knocking on our door. The three companies we have chosen fulfil our requirements both on the Swedish market and in the global arena," says Tomas Franzen, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. at AU-System. "We expect to establish at least two companies each year within the framework of the co-operation." Swedish IT-Provider is a leading Nordic venture capital firm, which has developed strong technology investment expertise within the mobile Internet sector. London-based web-angel, in conjunction with Silicon Valley based MVA, provide a global network of financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , strategy innovation and access to major industrial clients throughout Europe, Asia and the US. "We expect to have established the first of these new companies some time after the summer," says Marie-Louise Gefwert, Managing Director for the jointly owned company. "We have several good ideas to consider. Together with our partners, we now have a solid foundation for successful creation of new innovative companies." About AU-System AU-System is a leading Mobile Internet consultancy. Through the subsidiary SandbergTrygg, the company also offers integrated services In computer networking, IntServ or integrated services is an architecture that specifies the elements to guarantee quality of service (QoS) on networks. IntServ can for example be used to allow video and sound to reach the receiver without interruption. for marketing communications Marketing communications (or marcom) are messages and related media used to communicate with a market. Those who practice advertising, branding, direct marketing, graphic design, marketing, packaging, promotion, publicity, sponsorship, public relations, sales, sales . Major clients include Ericsson, Telia, Scania, Nordea and Singapore Telecom. AU-System was established in 1974 and currently employs more than 1000 staff in offices in Sweden, the U.K., Italy, the U.S., Thailand and Singapore. AU-System is listed on Attract40 of the OM Stockholm Exchange, under the symbol AUS AUS abbr. Army of the United States . For more information, please visit www.ausystem.com. About IT-Provider IT Provider is a leading Nordic venture capital firm with more than SEK 3 bn under management, 40 portfolio companies and experience from 25 successful IPOs and trade sales so far. IT Provider has 20 partners and senior advisers with experience from a broad spectrum of the IT industry and an extensive international network. IT Provider's primary investment focus are wireless & broadband communications, software and new media. About web-angel web-angel is an accelerator for expanding e-business companies. The company provides strategic advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal , financial consulting and help with financing. In return, web-angel retains partial ownership in the companies with which it collaborates. web-angel was established in 1999 by Ermgassen & Co, OC&C and the investment bank Brait SA. The company's main office is in London and there are six additional offices in Europe including OC&C's offices which web-angel utilises. About MVA McKenna Venture Accelerator is an early-stage venture capital fund based in Silicon Valley, California. MVA is closely integrated with the McKenna Group, an international strategy consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a with a 30 year track record as a pioneer in high-technology market creation and development. The fund's investment focus is in next-generation infrastructure technologies, primarily wireless communications, telecommunications, and e-business platforms. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/04/03/20010403BIT00290/bit0001.doc http://www.bit.se/bitonline/2001/04/03/20010403BIT00290/bit0001.pdf |
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