STOCKHOLM, Sweden, March 26, 2002 (PRIMEZONE) -- Corus Technologies is the leading company in the Nordic region in advanced IT integration. Corus offers products and services for turnkey integration projects. InnovationsKapital invested SEK 20 million in new capital via its third fund, InnKap 3 Partners. InnovationsKapital will thus become one of the three major investors of the company. Other shareholders are IT Provider, Woodbridge, Amymone, the founders and employees.
Experience from customers currently using Corus tools shows that integration costs can be reduced by 50-80%, implementation time is dramatically reduced and flexibility for changes increases drastically. Market estimates show that around 30-40% of a company's IT budgets are used on supporting and integrating existing IT systems. Corus tools can mean huge savings for companies.
"We are extremely pleased to have InnovationsKapital as one of our major investors," said Goran Wagstrom, CEO of Corus Technologies. "InnovationsKapital has a very good track record as a venture capital investor in the high-tech sector. Their excellent experience from the industry, know-how and investment strategy will obviously contribute to Corus' ability to develop into one of the key players in this very attractive market."
Corus currently operates on the Nordic market and plans later to expand internationally. Customers include Skanska, Bombardier, Bravida, The Swedish Civil Aviation Administration, Stockholm County Council, Wallenius-Wilhelmsen etc. The company was founded in 1997 and the first product was released at the beginning of 1999. Corus has 50 employees and its head office is in Stockholm.
"InnovationsKapital has monitored Corus Technologies for some time and is very pleased in becoming one of the lead investors of the company. In our opinion Corus is one of the most attractive software companies in Sweden today. We are convinced that the company has real potential to become one of the key players in the industry," said Robert Gothner, Investment Director at InnovationsKapital.
InnovationsKapital was founded in 1994 and is today one of Sweden's leading early stage venture capital firms for innovative growth companies. The business, carried out from offices in Gothenburg and Stockholm, is focused on Nordic investments within ICT and HealthCare & Life Sciences - dynamic sectors that are rapidly expanding and where Nordic research plays a leading role. The capital (SEK 1.7 billion) is managed in three funds and is provided by highly reputable Swedish and international institutional investors.
Further information about InnovationsKapital can be found at www.innkap.se
Corus Technologies is a company that supplies solutions for fast, cost-effective and secure integration of business applications. The main product, Corus QuickLink is a unique, patented solution, successfully used by a number of leading companies. Corus Technologies' head office is in Stockholm and the company currently operates on the Nordic market. Corus works closely with Hewlett-. Through this partnership Corus is able to support customers internationally.
Further information about Corus Technologies can be found at www.corustechnologies.com
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