Incomit raises 20 million SEK and appoints new CEO

Incomit raises 20 million SEK and appoints new CEO Ledstiernan's portfolio company Incomit has raised further financing of MSEK 20, split equally between Ledstiernan and New Ground Capital Ltd (a Guernsey-based Investment Company). Incomit has also appointed Edouard Mercier as CEO. Edouard Mercier has a strong telecom background and a broad international network. He is a co-founder of Sendit, one of the first companies active in the mobile Internet field. Sendit was sold to Microsoft in 1999, after which Edouard Mercier served as a Regional Director at Microsoft in Asia until April 2001. "I am delighted to welcome Edouard Mercier as new CEO. His strong background in both telecom and datacom as well as his broad international network will be very important to Incomit going forward" says Kaj Juul-Pedersen, chairman of the board of Incomit. "I am looking forward to the challenge of taking Incomit from its leading technical position into the commercial phase" says Edouard Mercier. The new capital will be used to further strengthen Incomit's position as a market leader and to develop its current partnerships. In total, Ledstiernan has invested MSEK 47 in Incomit and now holds 37.6% of the company. For more information please contact: Johan Wachtmeister, CEO, Ledstiernan, +46 8 545 035 10 Jonas Wiwen-Nilsson, CFO, Incomit, +46 54 17 67 00 Ledstiernan Ledstiernan is Sweden's leading seed and venture capital company within mobile communication. More than half of the portfolio's capital is invested in mobile communication solutions and wireless technology. The Ledstiernan share is listed on SSE's "O" list. Incomit Incomit has been first to market with key products in the area of Open Services Architecture solutions. Their products enable Operators, Service Providers, Virtual Network Operators, Internet Portals, Enterprises and Content Providers to come together in a new value chain that will create a revolution in the Telecom industry. Using Incomit's products, each player is now able to create their own specialized, niche telecom services for applications ranging from Internet portals, corporate intranets, e-mail clients and other PC applications to standard 2G mobile phones. Thereby they can meet market demand and the needs of their customers. ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download: