Investments in companies - 15.8.2011
Finnish Industry Investment and Veritas Pension Insurance invest altogether 2 million euros in the Finnish interactive multiuser display developer Multitouch Ltd. The investment will accelerate the company's growth by strengthening its sales and marketing resources and international operations. The companys existing owners, its founders and the seed fund Vera, continue as owners in the company.
Founded in 2007, Multitouch commercializes large interactive multiuser displays and software platforms. The screens are designed for professional usage for instance in retail outlets, public spaces and events. Multiuser displays are a growing trend in consumer electronics and demand is expected to multiply in the next few years. Multitouch currently has clients in 40 countries.
Petri Martikainen, CEO of Multitouch comments: "This investment supports our strategy to become a truly international supplier of interactive touch screens in the USA as well as in the growing markets in Asia. Furthermore, the number of distributors will substantially increase."
Juha Lehtola, Investment Manager at Finnish Industry Investment comments: "Within a short period of time Multitouch has been able to create a product portfolio and a position in the market that we believe are going to grow fast in the coming years. This is thanks to their progressive technology but also to the expertise and commitment of the companys personnel. Entering the next growth phase requires additional investments by the company, which we are now supporting."
Staffan Sevón, Investment Director at Veritas comments: "Consumers have learned to demand more and more intuitive user interfaces and comprehensive user experiences. The Multitouch technology will revolutionize the sharing of information and experiences. The companys international success story is now beginning and our expectations are high."
For more information, please contact:
Petri Martikainen, CEO, Multitouch
Tel: +358 50 5500 666, e-mail: email@example.com
Juha Lehtola, Investment Manager, Finnish Industry Investment
Tel: +358 40 0647 671, e-mail: firstname.lastname@example.org
Staffan Sevón, Investment Director, Veritas Pension Insurance
Tel: +358 10 55010, e-mail: email@example.com
Finnish Industry Investment Ltd is a government-owned investment company. Its mission is to promote Finnish business, job creation and economic growth through venture capital and private equity investments. Finnish Industry Investment invests in funds and directly in growth companies in all sectors. The investment focus is on growth, internationalisation, spin-offs, major industrial investments, as well as sectoral and corporate restructurings. Finnish Industry Investment collaborates closely with other investors and always invests together with private co-investors. With over 670m of capital under management, Finnish Industry Investments portfolio consists of around 90 fund investments and 75 direct investments. www.industryinvestment.com
Veritas Pension Insurance provides earnings-related pension insurance to employees and self-employed persons. Veritas has experience in statutory pensions and well-being at work since the relevant laws became effective in Finland in 1962. For more information please visit www.veritas.fi
MultiTouch Ltd manufactures table- and wall-sized multitouch displays. Multiple users can use displays with their both hands simultaneously.While the number of touchscreen users is growing exponentially, MultiTouchs goal is to provide the most important solutions for large multitouch systems. MultiTouch displays are used in more than 30 countries around the world. They are used in a range of markets such as retail business, advertising, exhibitions, museums, education and design. The products are sold directly and through MultiTouch global partner network. MultiTouch Ltds headquarter is located in Helsinki, Finland. Other offices are in the USA, in New York and Santa Clara, California. The company was founded in 2007 and is privately held. www.multitouch.fi