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Aptilo Networks to Acquire Service Factory ; Announces Investment by Norvestor
STOCKHOLM, January 4, 2011/PRNewswire/ -- Aptilo Networks, the global leader in pre-integrated solutions for
control of billing, user services and access in wireless networks including
Wi-Fi, WiMAX(TM) and LTE, announced today the company has signed an agreement
to acquire Service Factory, a division of Birdstep Technology listed on Oslo
Stock Exchange under the ticker BIRD.
The company also announced that Norvestor V L.P., a leading private
equity company, has invested in Aptilo Networks, acquiring the shares of
previous financial investors and becoming the majority shareholder.
With the acquisition of Service Factory, Aptilo Networks strengthens its
leading position in the field of wireless service management and policy
control with the addition of large service provider customers like
TeliaSonera, 3 Scandinavia, DU, Eircom and TDC.
"Already a profitable company, Aptilo represents a solid platform for
further expansion within the rapidly growing area of helping operators to
manage their mobile data traffic," said Jarle Gundersen, Partner in Norvestor
and new Chairman of Aptilo.
Service Factory, which brings their deep experience in working with
European mobile operators, will also further add to the development of
Aptilo's LTE and Policy Charging and Rules Function (PCRF) solutions.
"With the support from a strong and able investor as Norvestor, Aptilo
will be able to reach the ambitious goals we have in place to leverage this
growing market for service management and policy control for wireless
networks," said Torbjorn Ward, CEO, Aptilo Networks. "There are strong
synergies between Aptilo and Service Factory, this is one of the rare
occasions when the whole is greater than the sum of its parts."
"With Aptilo, being a global market leader based in Sweden, we have found
the perfect home for our Service Factory division with all their employees
and the most important customer located in Sweden," said Torbjorn Sandberg,
CEO and President, Birdstep Technology.
About Aptilo Networks
Aptilo Networks is the global leader in pre-integrated management
solutions for control of billing, user services and access in Wi-Fi,
WiMAX(TM) and LTE networks. Aptilo has become the provider of choice for
service providers, enterprises and municipalities in need of a rapidly
deployable, scalable service management and policy control solution for
wireless networks. Aptilo's solutions have been deployed in more than 50
countries. For more information, please visit http://www.aptilo.com.
About Norvestor Equity
Norvestor Equity AS is a leading private equity company focusing on lower
mid market buyouts in the Nordic region. The team has worked together since
1991 making it one of the most experienced private equity teams in Norway,
having executed 44 investments and participated in 169 add-on acquisitions
and divestitures. Norvestor Equity is the investment adviser to Norvestor IV,
L.P. and Norvestor V, L.P. The two funds currently have nine portfolio
companies. Read more at http://www.norvestor.com
For further information please contact:
Torbjorn Ward, CEO, Aptilo Networks AB
Phone: +46-733-224-608
torbjorn.ward@aptilo.com
Jarle Gundersen, Partner, Norvestor Equity AS
Telephone: +47-92-88-98-38
E-mail: jarle.gundersen@norvestor.com
Source: Aptilo Networks AB
For further information please contact: Torbjorn Ward, CEO, Aptilo Networks AB, Phone: +46-733-224-608, torbjorn.ward@aptilo.com; Jarle Gundersen, Partner, Norvestor Equity AS, Telephone: +47-92-88-98-38, E-mail: jarle.gundersen@norvestor.com
Aptilo Networks to Acquire Service Factory ; Announces Investment by Norvestor
STOCKHOLM, January 4, 2011/PRNewswire/ -- Aptilo Networks, the global leader in pre-integrated solutions for
control of billing, user services and access in wireless networks including
Wi-Fi, WiMAX(TM) and LTE, announced today the company has signed an agreement
to acquire Service Factory, a division of Birdstep Technology listed on Oslo
Stock Exchange under the ticker BIRD.
The company also announced that Norvestor V L.P., a leading private
equity company, has invested in Aptilo Networks, acquiring the shares of
previous financial investors and becoming the majority shareholder.
With the acquisition of Service Factory, Aptilo Networks strengthens its
leading position in the field of wireless service management and policy
control with the addition of large service provider customers like
TeliaSonera, 3 Scandinavia, DU, Eircom and TDC.
"Already a profitable company, Aptilo represents a solid platform for
further expansion within the rapidly growing area of helping operators to
manage their mobile data traffic," said Jarle Gundersen, Partner in Norvestor
and new Chairman of Aptilo.
Service Factory, which brings their deep experience in working with
European mobile operators, will also further add to the development of
Aptilo's LTE and Policy Charging and Rules Function (PCRF) solutions.
"With the support from a strong and able investor as Norvestor, Aptilo
will be able to reach the ambitious goals we have in place to leverage this
growing market for service management and policy control for wireless
networks," said Torbjorn Ward, CEO, Aptilo Networks. "There are strong
synergies between Aptilo and Service Factory, this is one of the rare
occasions when the whole is greater than the sum of its parts."
"With Aptilo, being a global market leader based in Sweden, we have found
the perfect home for our Service Factory division with all their employees
and the most important customer located in Sweden," said Torbjorn Sandberg,
CEO and President, Birdstep Technology.
About Aptilo Networks
Aptilo Networks is the global leader in pre-integrated management
solutions for control of billing, user services and access in Wi-Fi,
WiMAX(TM) and LTE networks. Aptilo has become the provider of choice for
service providers, enterprises and municipalities in need of a rapidly
deployable, scalable service management and policy control solution for
wireless networks. Aptilo's solutions have been deployed in more than 50
countries. For more information, please visit http://www.aptilo.com.
About Norvestor Equity
Norvestor Equity AS is a leading private equity company focusing on lower
mid market buyouts in the Nordic region. The team has worked together since
1991 making it one of the most experienced private equity teams in Norway,
having executed 44 investments and participated in 169 add-on acquisitions
and divestitures. Norvestor Equity is the investment adviser to Norvestor IV,
L.P. and Norvestor V, L.P. The two funds currently have nine portfolio
companies. Read more at http://www.norvestor.com
For further information please contact:
Torbjorn Ward, CEO, Aptilo Networks AB
Phone: +46-733-224-608
torbjorn.ward@aptilo.com
Jarle Gundersen, Partner, Norvestor Equity AS
Telephone: +47-92-88-98-38
E-mail: jarle.gundersen@norvestor.com
Source: Aptilo Networks AB
For further information please contact: Torbjorn Ward, CEO, Aptilo Networks AB, Phone: +46-733-224-608, torbjorn.ward@aptilo.com; Jarle Gundersen, Partner, Norvestor Equity AS, Telephone: +47-92-88-98-38, E-mail: jarle.gundersen@norvestor.com