Belgian GIMV invests USD 10m in German technology firm.
(ADPnews) - Aug 20, 2009 - Belgian private-equity firm GIMV NV (EBR:GIMB) said today it invested USD 10 million (EUR 7m) in the series B financing round of German technology company Ubidyne.
The Belgian firm thus joined the syndicate of the existing investors Baytech, Doughty Hanson and TVM in the financing round totalling USD 43 million.
"Strengthening our footprint in German-speaking Europe is an important step for GIMV. It underlines our ambition to become a leading player in this region", Richard Seibt, newly appointed member of the Technology Advisory Board, said.
Ubidyne is a spin-out of German industrial conglomerate Siemens AG (ETR:SIE) that was set up in 2005.
(USD 1.0 = EUR 0.704)