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SAXoTECH - Newsroom - SAXoTECH Press Releases - Aalborg, March 26, 1998.

SAXoTECH  A/S Receives DKK
19.4 Million in New Venture Capital


Together with SAXoTECH's employees, Erhvervsinvest Nord A/S and NOVI, Dansk Udviklingsfinansiering A/S and Kommunernes Pensionsforsikring A/S are investing DKK 19.4 million in a software company situated in North Jutland, Denmark, developing the newspaper system SAXoPRESS. The new venture capital is to be used for continued product development and international market expansion.

Today, the tools of the newspaper editors are to handle text, images, wirenews, entire newspaper pages and the Internet in an integrated, efficient and functional system - all on an innovative technical platform. These requirements are met by SAXoPRESS, available on a Mac and/or a Windows-NT/Windows-95 platform with the option to choose a database version based on Oracle.

Market Success
Since the establishment in 1994, SAXoTECH A/S has developed and sold the newspaper system SAXoPRESS for the majority of Danish daily newspapers and is today the market leader in Denmark.

The heavy demands made by Danish customers regarding the functionality, integration and optional character of the SAXoPRESS system as to technical platform has resulted in the system being evaluated very positively internationally.

Towards the end of 1996 SAXoTECH A/S began looking at the export markets and to date SAXoPRESS has been sold to 5 Norwegian newspapers and furthermore SAXoTECH has entered into agreements with several distributors in Europe.

Expansive Growth
With order backlogs of more than DKK 25 million and an increase of the share capital with DKK 19.4 million SAXoTECH is well equipped for a continued product development and market expansion. The goal is a surplus financed growth and a possible stock exchange introduction.

In 4 years the staff of SAXoTECH has grown from 6 to 40. And 26 of SAXoTECH's employees have chosen to invest in SAXoTECH. Erhvervsinvest Nord A/S and NOVI A/S became share holders of SAXoTECH in the autumn of 1996, providing SAXoTECH A/S DKK 4 million in new capital. In the course of 1997 the international prospects of the SAXoPRESS system have been confirmed and consequently Erhvervsinvest Nord A/S and NOVI A/S have wished to invest additional capital in SAXoTECH A/S.

Enclosed you will find a short description of the institutional investors of SAXoTECH A/S.

Dansk Udviklingsfinansiering A/S
Dansk Udviklingsfinansiering A/S
(DUF) is an independent major private venture company, investing in new innovative growth companies with a great international potential. In addition, the companies invested in are offered consultancy regarding technology, management, marketing and financial circumstances.

DUF is a limited company with a capital of DKK 500 million invested by more than 100 investors and counts today 16 employees participating in the launching of 6-10 new companies a year.

DUF primarily invests in

- Biotechnology and medicotechnology
- Electronics and information technology
- Material and process technology.

DUF is a member of the European venture capital association, EVCA, and is also a EU sponsored Eurotech Capital venture company.

Kommunernes Pensionsforsikring A/S
Kommunernes Pensionsforsikring
is a life-insurance company with investment assets of approx. DKK 43 billion. A minor part of the assets is invested in small, but promising companies, primarily in high-technology areas such as information- and biotechnology.

Kommunernes Pensionsforsikring has in the course of the past 8 years invested in approx. 100 companies of this type.

Erhvervsinvest Nord A/S
Erhvervsinvest Nord A/S is an active investor in industry, participating as a shareholder. Erhvervsinvest Nord A/S is North Jutland's local capital partner and primarily invests in North Jutland companies with a growth and development potential allowing an attractive return on the investment for the shareholders.

Erhvervsinvest Nord A/S participates with capital in connection with generational change, internationalization, preparation for a stock exchange introduction, structure rationalizations and other capital demanding development projects. Erhvervsinvest Nord A/S has a relatively long investment horizon and consequently always wishes to be a minority shareholder.

As of 1997.12.31 Erhvervsinvest Nord A/S had a portfolio of totally approx. DKK 70 million. The net capital amounts to approx. DKK 104 million.

Erhvervsinvest Nord constitutes an independent business area within the Spar Nord group as a 100 per cent owned subsidiary of Sparekassen Nordjylland A/S.

NOVI A/S
NOVI A/S
is a research center, innovation environment and venture company with a special competence within high-technology seed-investments. One of NOVI's essential tasks is to work as a link between The University of Aalborg and the business sector. In this way NOVI continuously gets knowledge regarding new research available for NOVI to use when a project needs knowledge and capital supply.

NOVI A/S is Denmark's only research center based investment company and aims at acting as an active "midwife" for new high-technology development projects arising in the science environments. NOVI has thus invested approx. DKK 40 million in 20 new high-technology companies.

SAXoTECH Viking

 

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