FSN Capital III has entered into an agreement to acquire Tactel AB, a world leading developer of mobile software technology
The company was founded in 1999 and is a niche player within the mobile technology software development market. Tactel is a leading developer of mobile applications, providing solutions and consulting services to some of the world’s leading mobile handset vendors, technology vendors, content providers and major network operators. The Company has a strong historical track record of profitable growth with yearly sales growth of 49% the last 5 years. In 2008, the group had total revenues of approximately SEK300 m.
“Tactel is a market leader in developing leading edge mobile software that ensures efficient, user friendly functionality across handsets, applications and networks. The Company has successfully developed proprietary products and is present in Sweden (180 development engineers and programmers in Malmö, Lund, Huskvarna and Umeå), US (60 development engineers and programmers in San Diego and San Fransisco) and Ukraine (30 development engineers and programmers in Kiev). The founders have been looking to find a partner that can support Tactel’s continued international expansion and broadening of customer base. FSN Capital looks forward to supporting the future growth of the Company together with its founders and employees, says Dan Johnson, Partner at FSN Capital”
“We see significant growth opportunities for our service offerings, both across geographies and applications. FSN Capital, with its strong experience in developing and supporting fast-growing businesses, will be a very valuable partner to the group going forward, says Per Henriksson, founder of Tactel.”
The investment in Tactel is FSN Capital III’s fifth investment. In previous funds, FSN Capital has made ten platform investments in the Nordic countries and twenty add-on acquisitions around the world.