Volvo Technology Transfer and Industrifonden sell Illuminate Labs
Volvo Technology Transfer (VTT) and Industrifonden have sold the portfolio company Illuminate Labs to the US CAD company Autodesk. Illuminate Labs develops advanced lighting and illumination technology for computer games.
After the sale, Illuminate Labs will be part of Autodesk Media & Entertainment and continue its operations in Gothenburg. All employees in the company are being offered a new position within Autodesk.
“We are proud to have contributed to the development of Illuminate Labs into a world-leading company in its field,” says Ulrika N. Everingham, Investment Director at VTT. “Autodesk’s acquisition of Illuminate Labs is confirmation of the company’s niche expertise and business acumen.”
Illuminate Labs has developed two solutions that in just a couple of years have become a proven technology for illumination in games. They enable more rapid repetition of a game’s creative intentions and give games a more realistic lighting.
“Together with the team at Illuminate Labs, Industrifonden and Volvo Technology Transfer show how the combination of expertise and development capital can create successful companies,” says Dan Ekelund, Investment Manager at Industrifonden.
Reporters who want more information, please contact:
Dan Ekelund, Investment Manager, Industrifonden, tel +46 70 591 29 52
Ulrika N. Everingham, Investment Director, Volvo Technology Transfer, tel +46 706 31 71 97.
September 6, 2010
About Volvo Technology Transfer
Volvo Technology Transfer AB focuses on developing and supporting new businesses relevant to the Volvo Group. Part of this effort is to invest in companies and projects that are technologically and commercially attractive. The company also supports the development of entrepreneurship and innovation within Volvo.
About Industrifonden
Industrifonden (www.industrifonden.se) offers venture capital, competence and a network of contacts to Swedish growth companies in most sectors. Industrifonden offers two types of capital: development capital to small technology companies and expansion capital to more mature companies that want to grow. The fund has assets of SEK 2.9 billion, of which SEK 1.6 billion are invested in about one hundred companies in technology, cleantech, life science and industry.
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The Volvo Group is one of the world’s leading manufacturers of trucks, buses and construction equipment, drive systems for marine and industrial applications, aerospace components and services. The Group also provides complete solutions for financing and service. The Volvo Group, which employs about 90,000 people, has production facilities in 19 countries and sells their products in more than 180 markets. In 2009 annual sales of the Volvo Group amounted to about SEK 218 billion. The Volvo Group is a publicly-held company headquartered in Göteborg, Sweden. Volvo shares are listed on OMX Nordic Exchange Stockholm. For more information, please visit www.volvogroup.com or www.volvogroup.mobi if you are using your mobile phone.
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