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April 26, 2000
EQVITEC PARTNERS AND SITRA INVEST IN SMARTNER INFORMATION SYSTEMS
Smartner Information Systems Ltd, a Finnish software and consulting company specializing in mobile business solutions, has expanded its ownership by 20 per cent. Eqvitec Partners is the lead investor of the financing round. Sitra, the Finnish National Fund for Research and Development, participates in the financing. In addition, Tekes, National Technology Agency, participates in financing the development of Smartner's software product. With the financing, Smartner speeds up its product development and the building of an international partnership network.
Smartner is one of the first providers of terminal device independent wireless corporate solutions. Smartner's software solution allows the utilisation and management of different corporate information systems via mobile devices. Smartner's mobile application platform enables the implementation of company-specific solutions in a rapid, device-independent and information system -independent manner.
According to Gartner Group, there are some 45 million mobile professionals - people who spend at least 20 % of their time away from their primary workplace. It is estimated that by 2002, some 12 million workers are going to require mobile communications devices - meanwhile, the demand for intra/internet services is estimated to grow very rapidly. Both the variety of information technology applications as well as the amount of mobile device types are increasing continuously, which has slowed down the expansion of mobile business solutions. Until today, the international software product market has lacked a device- and system-independent application on which company-specific solutions could be built efficiently.
Mr. Robert Rasmus, appointed as President and CEO of Smartner since the beginning of March, has 12 years of experience with Sonera, a leading Finnish telecom operator. At Sonera, Mr. Rasmus worked with business development and, more recently, as Business Unit Vice President. Chairman of the Board for Smartner is Mr. Ralf Saxén, who has in excess of 30 years of management and business development experience from the IT business. The financing partners will bring in their strong contribution both in the board as well as in strategy development.
The use of wireless corporate solutions is rapidly increasing, and the variety of different mobile devices will expand. When one aims at fully leveraging the investments made in information systems, it is clear that products like the one Smartner has introduced will be necessary, says CEO Rasmus. - Extensive cooperation with well-established systems and device providers is one of the key objectives of Smartner's strategy. Eqvitec's experience and expertise strongly contribute to our efforts in expanding operations internationally through partnerships. Scandinavia in turn offers Smartner an outstanding opportunity for cooperation with the best technology partners.
EQVITEC, who invest in companies with strong technology competencies, sees Smartner Information Systems Ltd. possesses technology potential capable of rapidly making the company a significant provider of B-to-B systems. The company's strong management team is motivated to making the company a prominent player in the mobile application market that is rapidly evolving, states Partner Jari Mieskonen from EQVITEC.
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