Aura Capital, a Finnish venture capital firm, has divested its share in Fromdistance, a device management software company, to the American-based Numara Software. Aura Capital invested in Fromdistance in 2008.
Fromdistance, founded in 2004, is a software company specialised in device management and sophisticated mobile applications for business use. Aura Capital invested in the company in 2008, especially due to its technical excellence and customer-driven innovation in a situation where the market was just about to emerge.
“We are happy to see Fromdistance taking a logical step as part of Numara Software. This further substantiates Aura Capital’s successful strategy to identify and invest in early-stage companies with strong IPR and exit them with a high return. In addition, this yet again underlines that Nordic region is a prime source of high quality companies,” says Ari Siponmaa, Managing Partner at Aura Capital.
Numara Software, a leading provider of integrated IT management solutions for all types of customers worldwide, acquired all shares in Fromdistance in the transaction carried out in October. Jouko Vierumäki, the founder and CEO of Fromdistance, will assume a leadership role in Numara’s product group.
“With the acquisition of Fromdistance we are excited by the opportunity to merge leading-edge mobile device management technology with our service, asset and lifecycle management solutions,” says Michael Branca, Numara CFO. “We are now steps ahead of our competitors as the only company that can unite the management of any device, whether it is traditional, mobile, physical or virtual.”
“For Fromdistance, Aura Capital made a perfect partner: they understood the business cycles of B2B IT solutions. They also shared my belief in our indirect go-to-market strategy,” says Jouko Vierumäki. “Also, I found the thorough due diligence to be worth it. Aura Capital tested us the way the market would have tested us anyway. Once proven, the trust didn’t need to be regained at every board meeting; we were able to focus on the essentials.”
