Aventeon Closes Financing Round; Syndicate: 3i, TVM and Intel Capital.Business Editors/High-Tech Writers MUNICH, Germany & SEATTLE & MENLO PARK Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , Calif.--(BUSINESS WIRE)--April 5, 2004--Aventeon Incorporated, an international software provider for mobile business solutions, has closed its first institutional financing round with 3i, Intel Capital, and TVM TVM Time Value of Money (business, finance, economics) TVM Ticket Vending Machine TVM Thanks Very Much (logging abbreviation) TVM Transmission Voie Machine . After its successful market segment entrance in central Europe Central Europe is the region lying between the variously and vaguely defined areas of Eastern and Western Europe. In addition, Northern, Southern and Southeastern Europe may variously delimit or overlap into Central Europe. , Aventeon's experienced international team will continue to grow its customer base. The recent funding will allow Aventeon to expand into new markets and target new customers, particularly in central Europe, as well as to expand the development and business activities in the US. In addition, Aventeon will broaden its collaboration with companies such as Cap Gemini, Atos Origin Atos Origin, SA (Euronext: ATO) is an international IT corporation which operates in 40 countries worldwide, with over 50,000 employees. The corporate headquarters are located in Paris, France and Zaventem, Belgium. , Vodafone, Symbol Technologies, Intel and LogicaCMG. "Our products provide mobile workers with all relevant information directly from their company's back-end software system. Our goal is to increase customer satisfaction, drive revenue growth, and reduce administrative and communication costs to an amortization timeframe of less than one year," noted STS (Synchronous Transport Signal) The electrical equivalent of the SONET optical signal. In SDH, the European counterpart of SONET, STS is known as STM (Synchronous Transport Module). Prasad Prasāda (Sanskrit: प्रसाद), prasād/prashad (Hindi), Prasāda in (Kannada), prasādam (Tamil), or prasadam , President of Aventeon and head of the US based development team. Joern Pelzer, Investment Director of the lead-investment firm 3i, notes, "Aventeon's vertical industry-specific solutions, with interfaces to the important back-end software such as SAP, Siebel and Navision, can be installed efficiently and very cost effectively. This strength, combined with the feedback of top reference customers, convinced us to invest in Aventeon." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Christian Claussen, General Partner with co-lead investor TVM, "Aventeon's key differentiators are that a specific mobile Workflow can be structured, defined and supported by the end user." Heiko von Dewitz, Intel Capital's Investment Manager for Central Europe, said, "Intel Capital has an overall strategy of investing to stimulate advances in computing and communications. This investment supports our strategy of helping to accelerate the growth of mobile solutions based on Intel architecture." About Aventeon: Aventeon Inc. is a software company supplying vertical specific mobile enterprise solutions. The core competence Core competence Primary area of expertise. Narrowly defined fields or tasks at which a company or business excels. Primary areas of specialty. of the company is the development of software applications and middleware that are designed to streamline processes that connect mobile client device users with the heavy back-end ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. systems of their organisations. On top of this middleware platform can sit a range of Aventeon applications designed specifically for the functional areas of sales, service and logistics as well as several industry vertical applications, namely for the utility, transport & logistics, manufacturing, telecom, retail, pharmaceutical and health care industry. Aventeon collaborates with leading players in the mobile value chain including Intel, Vodafone, KPN KPN Koninklijke PTT Nederland (Royal Dutch Telecom) KPN Konfederacja Polski Niepodleglej (Polish conservative party) , Cap Gemini Ernst & Young, Atos Origin or Symbol Technologies. Aventeon was founded in November 2000 and currently has a staff of 30 people in its offices in Munich/Germany, Culemborg/Netherlands, Seattle/USA and Hyderabad/India. Investors into Aventeon include Intel Capital, 3i and TVM. For further information please visit www.aventeon.com. About 3i: 3i brings capital, knowledge and connections to the creation and development of businesses around the world. It invests in a wide range of opportunities from start-ups to buy-outs and buy-ins, focusing on businesses with high growth potential and strong management. 3i invests in businesses across three continents through local investment teams in Europe, Asia Pacific and the USA. To date, 3i has invested over US$26 billion (including co-investment funds). 3i's current portfolio is valued at over US$ 7.5 billion. About TVM: Techno Venture Management (TVM), founded in 1983, is one of the first venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] formed in Germany, and a leader in transatlantic venture investments. The German-U.S. venture capital company has offices in Munich and Boston. For many years, TVM has focused on information technology and life sciences, high growth sectors where innovation, effective management and sound financial backing have enormous impact on company growth. TVM funds have made investments in more than 200 technology companies in Europe and the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . A pivotal objective is to create transnational businesses that enjoy access to science, management talent and capital on both sides of the Atlantic. Since 1983 TVM has raised over EUR EUR In currencies, this is the abbreviation for the Euro. 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. 1 billion in five fund generations and has established itself as a leading technology investment group in Germany and the United States. About Intel Capital: Intel Capital, Intel's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy The Internet Economy refers to conducting business through markets whose infrastructure is based on the Internet and World-Wide Web. An Internet economy differs from a traditional economy in a number of ways, including: communication, market segmentation, distribution costs, and price. in support of Intel's strategic interests. Intel Capital invests in hardware, software and services companies in several market segments, including computing, networking, and wireless communications. For more information, visit www.intel.com/capital The transaction was advised by GlobalFinance. About GlobalFinance GlobalFinance is a recognized investment services firm for private equity and M&A. The firm is an advisor to investors and companies in funding, buying or selling shareholdings, portfolios and fund interests. GlobalFinance is well known for its ability to deliver intelligent solutions both in the primary and secondary markets. Our people have completed deals worth in excess of EUR 3 billion. (www.globalfinance.de) |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion