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Imsys Technologies gets funding for expansion
Upplands Väsby, Sweden, September 28, 2005. Imsys Technologies AB has closed a first round of funding. A consortium headed by Creandum AB and Swedish Industrial Development Fund (Industrifonden), have agreed to invest a total of 14 million SEK.
Imsys Technologies develops and markets the Cjip processor as
the core in a complete hardware and software platform for networked embedded
systems. The Cjip is based on a proprietary architecture, which is uniquely
memory and power efficient. The solution meets the requirements of an
ever increasing number of embedded applications requiring communication
over public and private infrastructures based on Internet technology.
Applications like vehicle fleet management, security systems, medical
devices, traffic control, facility management, all share the need for
small, efficient, cost effective and flexible solutions based on standards.
A Java™ environment with Internet communication is therefore bundled
with the Cjip in most applications. The Cjip is truly microcode reconfigurable
and, among other features, can directly execute Java™ byte code.
Imsys also offers a Cjip based industry standard flexible computer module
with Ethernet and other interfaces, easy for the customer to integrate
in their product. To increase developer productivity a comprehensive integrated
development environment is also offered.
In 2003 Imsys was subject to a management buy-out with the intention
to take advantage of the promises of the Cjip technology. Imsys has delivered
products to several hundred customers in more than 30 countries. The new
financing will allow Imsys to expand current marketing efforts in both
vertical segments and in new geographical areas.
Stefan Lindeberg, partner at Creandum says: “What we found in Imsys Technologies was a company with an existing powerful product with a large market potential, but no funds to go and sell it”.
Dr. Dag Sigurd, investment manager at Industrifonden says: “Imsys
has highly competitive products for the growing embedded control and telematic
systems market”.
To strengthen the management team the company has appointed Ola Andersson as CEO. Ola Andersson has extensive experience from the semiconductor industry as well as from several vertical application segment e.g. mobile communication and security applications.
Furthermore, Torgny Bramberg has been appointed as chairman of the board.
Torgny Bramberg has been active in several start-up companies after an
international career in Ericsson and Nokia.
About Creandum
Creandum is a Nordic venture
fund founded in 2003 investing in companies’ earliest phases. The
fund is focused on investments in innovative technologies and/or business
models in high growth markets backed by outstanding entrepreneurs.
About Industrifonden
Industrifonden is one
of the leading venture capital organizations in Sweden with direct investments
in about 100 companies. Its aim is to encourage profitable growth and
innovation among small and medium-sized Swedish companies. Industrifonden
invests in early-stage high-tech companies with international potential
in three sectors: Life science, IT/Electronics and Industry.
Industrifonden was established in 1979 and its total equity amounts to
SEK 3.2 billion.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Torgny Bramberg, Chairman, torgny.bramberg@imsystech.com,
+46 70 550 24 70
Ola Andersson, Imsys Technologies, CEO, ola.andersson@imsystech.com,
+46 (0)8 594 110 70
Stefan Lindeberg, Creandum, stefan.lindeberg@creandum.com,
+46 (0)70 884 24 45,
Dag Sigurd, Industrifonden, dag.sigurd@industrifonden.se,
+46 (0)8 587 919 15
Imsys Technologies AB
Johanneslundsvägen 3
SE-194 61 Upplands Väsby
Sweden
Phone +46 8 594 110 70
Fax +46 8 594 110 89
Web www.imsystech.com
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