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CapMan acquires IT2 Treasury Solutions from SimCorp A/S
CapMan Technology 2007 fund will acquire IT2 from SimCorp A/S listed on the Copenhagen Stock Exchang

29 May 2007 -- CapMan Technology 2007 fund will acquire IT2 from SimCorp A/S listed on the Copenhagen Stock Exchange. IT2 is a software solutions and services provider of treasury management systems mainly to medium and large size enterprises and financial institutions.

IT2’s primary market areas are the Nordics, the UK and USA, in which it has more than 200 customers in all. IT2’s treasury management systems support the treasury operations of enterprises and financial institutions particularly in the areas of deal management, cash management, risk management and accounting. IT2 launched its first treasury management product in 1983.

Prior to the transaction IT2 was a wholly owned subsidiary of the Danish public company SimCorp A/S. The company has over 40 employees in Denmark, the UK, USA and Hong Kong.

”IT2 has clearly outperformed the market growth in the last few years. We expect that IT2’s target market will continue to grow as changes in legislation, regulations and accounting standards further grow the need for more efficient risk management and real-time transparent reporting as well as advanced automation of treasury operations,” says CapMan Partner Tommy Valther Hansen. ”We will develop IT2 as an independent company and we believe that the company has a strong platform to continue its growth and to create an even stronger strategic market position.”

”After exploring different alternatives, we believe that this transaction is in the best interest of the IT2’s customers and employees. As the deal allows us to focus on our SimCorp Dimension business we are convinced that the deal also is in the best interest of SimCorp’s shareholders,' says Executive Vice President Peter Theill of SimCorp A/S.

IT2 is the second portfolio company of the CapMan Technology 2007 fund that was established in February 2007. CapMan Plc is a substantial investor in the fund. CapMan funds will together with the management own 100 per cent of the shares in IT2 after the transaction. The management of the new company has been offered shares in the company. The transaction is expected to be finalised by beginning of July.

CapMan Technology invests in Nordic expansion and later stage technology companies. CapMan’s Technology team, having a long track record in accordance with this investment focus, is one of the most experienced in the Nordic countries. The portfolio companies of CapMan Technology typically deliver industrial or business-to-business infrastructure, applications or services.

For further information, please contact:

  • Tommy Valther Hansen, Partner, CapMan Technology, tel. +45 35 25 99 32 or +45 29 41 14 80
  • Peter Theill, EVP of SimCorp A/S, tel. + 45 35 44 88 10 or +45 40 76 18 42

    CapMan is one of the leading private equity investors in the Nordic countries and manages Nordic buyout, mezzanine, technology, life science and real estate funds with approximately EUR 3.0 billion in total capital. Each investment area has a dedicated team and altogether CapMan employs around 100 people in Helsinki, Stockholm, Copenhagen and Oslo. Established in 1989, CapMan has strong experience as a fund manager and as a partner for investors and entrepreneurs. To date CapMan has made over 150 Nordic investments and over 90 exits. The current portfolio encompasses over 60 companies with an aggregate turnover of approx. EUR 2.7 billion and aggregate personnel of 17,000 people. The latest investments are made in Finnish Movial Applications Oy, Danish IT2, Swedish QuickCool AB and Norwegian InfoCare ASA. In addition, CapMan has invested in 28 real estate assets and exited from 22. The B shares of CapMan Plc are listed on the Main List of the Helsinki Stock Exchange since 2001.

    Publisher Contact Information:

    CapMan Capital Management Oy
    +45 35 25 99 32

    Company profile of CapMan Capital Management Oy
    Past press releases of CapMan Capital Management Oy.

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