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BNP Paribas Private Equity invests EUR3m in Telogic

BNP Paribas Private Equity has invested EUR3m in Danish mobile virtual network enabler Telogic.

The investment, which BNP Paribas Private Equity expects to see strong growth in the coming years, will help Telogic to further accelerate its expansion in the German and Polish markets.
 
”We have enjoyed a strong position in Sweden and Denmark for many years, and we are currently rapidly expanding in Poland and Germany, where we acquired a majority of the shares in the German mobile virtual network enabler Vistream GmbH earlier this year,” says Per Erik Ångman (pictured), Telogic chief executive officer. “The backing of BNP Paribas Private Equity allows us to further strengthen our position in these markets, and to expand into other markets in Europe.”
 
Telogic has had an average growth of over 90 per cent during the last three years, and revenues in 2009 reached EUR17.4m. The infusion of new venture capital allows the company to continue to grow rapidly and to consider strategic acquisitions.
 
“We have been following Telogic closely for quite some time,” says Nicolas Vaillant, director of investments at BNP Paribas Private Equity. "We have been impressed by the strong business acceleration during the past few years, based on good fundamentals and high-level management.

“Telogic is an innovative and well run company with great potential. With a more focused European strategy, the company will now expand at an even higher rate in the coming years.”

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