CapMan Press release 8 March 2010 3.15 p.m.
CapMan receives carried interest income from its sale of On2 shares
Funds managed by CapMan have sold the shares they held in American listed company On2 Technologies, Inc, following their exit from Hantro Products Oy in 2007, to Google and sold the Google shares they received as part of the transaction. The sale will have an approximately 0.6 million impact on CapMan Plc’s result for 2010 through the carried interest income received from the Finnventure V fund.
CapMan funds Finnventure V and Finnventure V ET originally invested in Hantro in 2002 and made a major add-on investment in 2005 together with a group of other investors. In 2007, the funds sold their holding in Hantro to American On2, receiving shares in the latter in exchange. Google lodged a bid to acquire On2 in August 2009, which was accepted by the company’s shareholders on 17 February 2010. CapMan’s funds sold the shares they received in Google.
The original investment by CapMan’s funds in Hantro did not meet original expectations.
Further information:
Vesa Walldén, Senior Partner, CapMan Technology, tel. +358 (0)207 207 561 or +358 (0)400 616 997
CapMan www.capman.com
CapMan is one of the leading alternative asset managers in the Nordic countries and Russia and manages private equity funds with approximately EUR 3.5 billion in total capital. CapMan has six investment areas (CapMan Buyout, CapMan Technology, CapMan Life Science, CapMan Russia, CapMan Public Market and CapMan Real Estate), and each of them has a dedicated team and funds. Altogether CapMan employs 150 people in Helsinki, Stockholm, Copenhagen, Oslo and Moscow. CapMan was established in 1989 and its B shares are listed on the Helsinki Stock Exchange since 2001.
