CapMan sold Solid to IBM
CapMan funds and other owners have sold their stake in Solid Information Technology Oy to IBM. The exit has no substantial impact on CapMan Plc’s result for 2007 or 2008.
Solid Information Technology is a provider of database solutions that stores data in main-memory at all times for real-time access.
CapMan made the initial investment in the company in 2004. CapMan Equity VII and Swedestart Tech KB funds have invested in Solid in 2004 and 2006.
The investment in Solid did not meet original expectations.
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| Fund | CapMan Equity VII LP Argentum share 22.33% |
| Portfolio Company | Solid Information Technology |
| Date of Transaction | 2007-12-21 |
| Transaction | Trade-sale |
| Seller | CapMan Equity VII LP |
| Buyer | IBM |
| Size of Transaction | |
| Ind. Focus | ICT |
| Geography | Finland |
| Stage | Small/mid-cap buyout |