SEB Företagsinvest and CapMan invest in Ascade

SEB Företagsinvest and CapMan invest in Ascade Swedish telecom software company Ascade is a leading provider of Business Support Systems for the telecom operator wholesale industry. SEB Företagsinvest and CapMan have invested MSEK 20 in Ascade AB. The external capital gives Ascade additional fuel in its strategy to broaden its customer base and to strengthen its position on the emerging worldwide market of Business Support Systems for voice minute wholesale management. Ascade's product Carrier Cockpit(TM) has attracted several internationally renowned customers in a short time such as Swisscom and Telenor. Ascade is a Swedish telecom software company who has been profitable since start in 1997. The company is totally dedicated to developing solutions for the telecom operator wholesale industry. Ascade's Carrier Cockpit(TM) is a sophisticated IT-solution which enables operators worldwide to cut costs and lift productivity by optimising and automating the management and operation of the buying, routing, pricing and selling of international voice minutes. The investment will bring extra strength to the expansive international strategy that Ascade is pursuing. The company intends to rapidly acquire new customers worldwide and to strengthen its position as the leading provider of Business Support Systems for the telecom operator wholesale industry. "Bringing on SEB Företagsinvest and CapMan definitely addresses increased creditability to Ascade and will be the energy boost that establishes Ascade as the premium supplier of Business Support Systems for the telecom operator wholesale industry", says Christopher Grahn, CEO of Ascade. After the deregulation of the telecom market, the competition and the complexity on the market of trading voice minutes has grown tremendously. The market for support systems managing this complexity is as yet rather undeveloped. The need for system support is growing fast and is expected to accelerate even further as telecom operators are streamlining and automating operations to regain strength. With efficient business support, operators can save millions of Euros yearly, by using Ascade's Carrier Cockpit(TM) and the sale of the product has thus not been affected by the current decline within the telecom industry. Among Ascade's present customers are market-leading international operators such as Swisscom of Switzerland, Finnet International of Finland and Telenor of Norway. In addition to existing customers, the Carrier Cockpit(TM) is currently also being evaluated by a number of major operators worldwide. Ascade started out as an IT-consultancy company but has been a product company since 2000 and is now considered to be at least one year ahead of its competitors. "To meet the needs of international telecom operators, who act in a challenging and complex environment, Ascade has developed a very interesting software solution. The software is unique in the sense that it addresses a core process which represents a considerable revenue stream for the operator. We are investing in Ascade to support the company in a broader international expansion, and very much look forward to working with management as well as our co-investor", says Frederick Johansson Senior Investment Manager at SEB Företagsinvest. "Ascade has a strong market position in a very interesting market niche, and their offering is exceptionally strong. Together with management we hope to develop the company further" says Martin Falkevall, partner at CapMan AB. SEB Företagsinvest is the venture capital arm of Skandinaviska Enskilda Banken (SEB). The business concept is to invest venture capital and to provide competence and an extensive network of contacts for growth companies in Technology and Healthcare. Since inception in the autumn of 1995, SEB Företagsinvest has invested in 52 companies, of which 18 have been exited. For more information, see www.foretagsinvest.seb.se CapMan is one of the leading private equity investors in the Nordic countries and specialises in mid-sized buyouts in various industry sectors, technology investments in the IT, telecommunications and media sectors and investments in life science companies. CapMan team comprises 70 investment professionals and support staff in Helsinki, Stockholm and Copenhagen. CapMan manages/advises funds with EUR 1538 million in total capital, of which EUR 473 million is managed by the affiliated company Access Capital Partners, which invests in European private equity funds. The funds managed by CapMan have invested in 121 companies in the Nordic countries and exited from 44 companies. CapMan Plc`s B share is listed on the Main List of the Helsinki Stock Exchange Ascade AB Stockholm 13th of November 2002 For further information, please contact: Christopher Grahn, CEO, Ascade AB Tel: 08-616 73 00, e-mail: christopher.grahn@ascade.se Frederick Johansson, Senior Investment Manager, SEB Företagsinvest Tel: 08-763 79 03, e-mail: frederick.johansson@seb.se Martin Falkevall, Investment Manager, CapMan AB Tel: 08-545 85 470, e-mail: falkevall@swedestart.se For further information please visit www.foretagsinvest.seb.se for information on SEB Företagsinvest, www.swedestart.se for CapMan and www.ascade.com for Ascade. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/11/13/20021113BIT00450/wkr0001.doc http://www.waymaker.net/bitonline/2002/11/13/20021113BIT00450/wkr0002.pdf