Clavister Secures New Financing
Clavister has secured debt financing of EUR 4 million from Harbert European Growth Capital Fund ("HEGCF")
Clavister (Nasdaq: CLAV), a leader in high-performance network security, has secured debt financing of EUR 4 million from Harbert European Growth Capital Fund ("HEGCF"), an investor in fast growing European technology, life science and clean energy businesses.
The funding is split into two equal parts, where the second part is payable given certain conditions are met. The additional capital is being used by Clavister to grow its international market presence, and to capitalize on the strong interest shown in Clavister solutions by integrators and strategic partners.
"Several high profile hacking incidents have highlighted the vulnerability of our current network infrastructure which only reinforces the need for Clavister’s advanced security solutions, particularly, in the telecoms and next-generation mobile sectors,” said Johan Kämpe, Senior Managing Director at HEGCF. “We are excited to be supporting Jim and the team at Clavister given the future opportunities to accelerate the business and extend its successful partnerships."
Jim Carlsson, Clavister CEO said: “This funding will drive further growth for Clavister worldwide, providing extra resources to help us increase market penetration and accelerate the development of innovative cyber security solutions that can keep pace with the constantly changing threat landscape, and protect a wide range of devices and platforms against attacks.”
Clavister is a contributing partner of Intel’s Innovation Centre for the Internet of Things in Sweden, along with Ericsson, TeliaSonera, and Yanzi Networks. It is also helping to develop secure wireless networks across 1600 locations in Brazil to deliver secure Smart Cities, protecting sensitive data and assets for up to 30 million citizens.
For more information, please contact:
Peter Dahlander, IR contact person
46(0)8-545 298 00
Clavister is a leading security provider for fixed, mobile and virtual network environments. Its award-winning solutions give enterprises, local and federal governments, cloud service providers and telecoms operators the highest levels of protection against current and new threats, and unmatched reliability. The company was founded in Sweden in 1997, with its solutions available globally through its network of channel partners. Clavister is a member of Intel’s Network Builders program (networkbuilders.intel.com), a cross-industry initiative that enables telcos to build and manage business-critical infrastructures, with lower capital and operating costs. Clavister is traded at NASDAQ OMX Stockholm and has more than 5400 shareholders. Remium is the companies Certified Advisor. For more information about Clavister, visit www.clavister.com
Harbert European Growth Capital Fund I, LP finances high‐growth innovative European companies and is actively seeking investment opportunities. Additional information about HEGC can be found at www.harbert.net/investment‐strates/european‐growth‐capital. HMC, an alternative asset management firm with approximately $4.1 billion in assets under management as of September 1, 2014, is a privately owned firm formed in 1993 to sponsor alternative asset investment funds. Additional information about HMC and HEGC can be found at www.harbert.net.