Forte Netservices receives €3.5 million from Eqvitec
Eqvitec Technology Fund III has agreed to invest €3.5 million in Forte Netservices. This will give the fund a minor stake in the company.
Forte is a MSP (Managed Service Provider) for networking and security solutions. The company's business has grown strongly since it was established in 2000. Demand for the Forte’s packaged services has been very strong over the past few years and it is expected to grow rapidly in the future as well.
Forte aims to multiply its revenue by 2011 and expand its business into neighbouring Russia, the Baltic region and the Nordic countries. Forte’s services are currently deployed in over 50 countries.
The additional resources will therefore be used to accelerate the growth strategy and service concept development.
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| Fund | Eqvitec Technology Fund III Argentum share 14.2% |
| Portfolio Company | Forte Netservices |
| Date of Transaction | 2008-02-12 |
| Transaction | Acquisition |
| Seller | |
| Buyer | Eqvitec Technology Fund III |
| Size of Transaction | EUR 3.5m |
| Ind. Focus | ICT |
| Geography | Finland |
| Stage | Venture |