Bure invests SEK 100M in new ventures within IT and telecom

Bure invests SEK 100M in new ventures within IT and telecom - Increased involvement in CR&T with establishment of new IT fund - Bure is vigorously strengthening its investment in ventures within the IT and telecom sector by contributing an additional SEK 100M to the incubation and research company, CR&T (Carlstedt Research & Technology). At the same time, Bure's holding increases from 45 to 65 per cent. Through this initial investment by Bure, investments will be made in external companies, in which CR&T's experience in start-up and management of high- tech companies will contribute strongly to the development of the various companies. The investments will be made via an IT fund under CR&T's management with its own investment responsibility. "Through the capital contribution CR&T will be able to accelerate its incubation operations within the so-called demerger factory in which companies such as Appgate, Spotfire, Pilotfish and Gatespace have emerged. At the same time, we are creating a new IT fund for investments in Internet-related technology companies. In addition, Spotfire plans to carry out an IPO on Nasdaq and additional companies will be demerged within the near future," says Roger Holtback, President and CEO of Bure. "CR&T has experience that is unique in the Nordic countries of developing start-ups within the framework of its own operations. Through increased owner involvement and substantial capital contribution we now cover the high-tech side in completely different way than before and in addition give CR&T the opportunity to utilise its knowledge in external investments," says Björn Boldt-Christmas, Head of IT investments in Bure. "Bures increasing involvement and confidence in us is proof that our work model is correct. With CR&T's spearhead technology and expertise combined with Bure's networks and capital, we will be able to raise the rate for tangible spin-offs", says Staffan Truvé, President of CR&T. A further step in the intensified collaboration is the joint establishment of offices in the high technology regions, Helsinki and San Francisco, which will be carried out during the year /continues/ About CR&T CR&T is one of the foremost incubation for high-tech companies in the Nordic countries. The business concept is, in collaboration with universities and advanced industrial companies, to develop start-ups and ventures within the IT sector. Since the start in 1995, a number of new companies have been created, of which several hold strong international positions in their respective markets. So far, CR&T has demerged four companies which have attracted international venture capital and developed rapidly in their respective markets. The plan is that the first company, Spotfire, will soon carry out an IPO on Nasdaq. The company, which has a current market value of USD 130M, has a strong position in the American market with its software for data analysis. The IT security company, Appgate, and Gatespace, which has established an international standard solution for Internet gateways for the intelligent home, have developed strongly and have established operations in several international markets. A similar development is awaiting Pilotfish which develops solutions for telematics and mobile Internet. CR&T will soon demerge additional companies. The market value of the included companies currently amounts to nearly SEK 2 billion. Gothenburg, 29 June 2000 Investment AB Bure (publ) For further information, please contact: Björn Boldt-Christmas, Head of IT Investments in Bure +46 31-335 76 85, 0705-88 76 85, bbc@bure.se Staffan Truvé, President of CR&T +46 31-701 42 85, 070-593 38 85, truve@crt.se ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/06/29/20000629BIT01310/bit0001.doc http://www.bit.se/bitonline/2000/06/29/20000629BIT01310/bit0002.pdf