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Nexit Ventures leads $10 million investment round for Ekahau


Industry analysts predict yearly market growth of 40 to 70 percent for Wi-Fi-based real time location systems

Helsinki, Finland – June 3, 2008 – Nexit Ventures, a mobile venture capital firm focused on wireless technologies and services, today announced an investment round of over $10 million for its portfolio company Ekahau Inc. The investment will strengthen Ekahau's solution delivery capability and allow the company to respond to rapidly growing market demand.

The investment round was led by Nexit, with investments from Finnish Industry Investment Ltd, Sampo Group and private investors. On previous investment rounds, Ekahau has raised over $18 million in venture capital from investors and institutions that include the aforementioned as well as 3M Company. Ekahau's research and development has also been funded by Tekes, the Finnish Funding Agency for Technology and Innovation.

Ekahau's patented Real-Time Location Systems technology (RTLS) provides the easiest, most cost-effective and accurate positioning solution for locating key people, assets and inventory over enterprise Wi-Fi networks. Ekahau RTLS solutions are used in a wide range of industries, from healthcare and government applications to manufacturing and mining.

'Ekahau is the leader in the rapidly growing market for location-enabling enterprise Wi-Fi networks. Our solutions are very cost-effective, since implementation only requires our software and Wi-Fi tags for the assets to be tracked. Over the last two years, we have signed several distribution agreements with major industry players including Siemens, McKesson, Nortel, 3M Company and Siemens Medical,' said Mr. Antti Korhonen, President & CEO, Ekahau Inc.


Frost & Sullivan estimates that the RTLS market will grow to nearly €1 billion per year by 2011. This growth is largely driven by the healthcare and manufacturing industries. Real-time location improves staff safety and allows assets to be utilized more efficiently. Ekahau's principal focus is in the healthcare market, but the company's business is also growing in the automotive, logistics, mining and security industries.

'Ekahau technology is a superb example of a Nordic innovation based on strong expertise and driven to commercial success by focused long-term work. Thanks to its industry-leading product and worldwide partner network, Ekahau is in the ideal position to gain the benefits of the fast-growing RTLS market,' said Mr. Michel Wendell, General Partner, Nexit Ventures.

Nexit Ventures' executives have played a key role in developing Ekahau's business since 2000. With Nexit's support, in 2002 Ekahau transferred its headquarters to Silicon Valley, close to its major customers. Though Ekahau's product development and most of its staff are located in Finland, the company's revenue is generated almost exclusively from international markets, primarily from the US. Ekahau has been commended by numerous industry experts including Frost & Sullivan and the Wall Street Journal.

Nexit Ventures invests in mobile and wireless high-growth companies in the Nordic countries, the United States and Asia. In 2006 and 2007, Nexit realized successful exits of its portfolio companies Bitfone, Hybrid, Mobile365 and Hantro to HP, NVIDIA, Sybase and On2, respectively. Nexit's other portfolio companies include Axel Technologies, Conformiq, Ecrio and Futuremark.

Further information:

Michel Wendell
General Partner, Nexit Ventures
Tel. +1 408 406 6995
michel.wendell@nexitventures.com

Antti Korhonen
President and CEO, Ekahau Inc.
Tel. +358 400 397 979
antti.korhonen@ekahau.com

Christina Forsgård
Netprofile Tech PR
Tel. +358 9 6812 080
christina@netprofile.fi

About Nexit Ventures
Nexit Ventures is a mobile venture capital firm focused on wireless technologies and services. Leveraging an extensive network in the global mobile marketplace, Nexit invests in Nordic and US-based early-stage companies with products and services for a global market. For Nordic mobile companies, Nexit provides a bridge to Silicon Valley markets and exit opportunities. For US-based mobile companies, Nexit brings Nordic market insight, customer access, and technology resources. Nexit has realized several successful exits of its portfolio companies in United States, the world’s leading M&A market for technology ventures. Recently, Nexit has sold Bitfone to HP, Hybrid to NVIDIA, Mobile365 to Sybase, and Hantro to On2. Nexit has offices in Helsinki, Stockholm and Silicon Valley. For further information, please visit www.nexitventures.com.

About Ekahau Inc.
Ekahau Inc. is the industry leader in providing Wi-Fi-based RTLS solutions. Ekahau's customers, including several Fortune 500 companies worldwide, are realizing the benefits of Wi-Fi based location services and innovative Wi-Fi network planning and optimization tools. Ekahau’s solutions are being used in more than 150 hospitals around the world, as well as by manufacturers, mining/oil/gas companies, government agencies and the military. Ekahau partners include wireless software developers, leading system integrators and international OEM partners, who develop and market wireless enterprise applications. Ekahau is a U.S. based corporation, with offices in Saratoga, Calif.; Reston, Va.; Helsinki, Finland; and Hong Kong, China. For more information about Ekahau, please visit at www.ekahau.com.

About Finnish Industry Investment
Finnish Industry Investment Ltd is a government-owned investment company that promotes Finnish private enterprise, employment and economic growth through capital investment. The company invests the proceeds accrued from the privatisation of state-owned companies in stimulating the growth and internationalisation of Finnish businesses. Finnish Industry Investment invests in venture capital funds and directly in growth companies, together with private co-investors. The targets are in all sectors. Capital investments are needed for financing the growth of investee companies, and for spin-offs, major industrial investments, and sector and corporate restructurings. The investments of Finnish Industry Investment amount to some EUR 470 million. For more information, please visit www.teollisuussijoitus.fi/in_english.


Publisher Contact Information:

Nexit Ventures Oy
+1 408 406 6995
michel.wendell@nexitventures.com

Company profile of Nexit Ventures Oy
Past press releases of Nexit Ventures Oy.

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