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AddSecure sold to ABRY Partners

AddSecure sold to ABRY Partners

Viking Venture is pleased to announce the sale of portfolio company AddSecure to ABRY Partners, a Boston US based private equity firm. AddSecure is the Nordic market leader providing secure mission-critical machine to machine communications for security and other applications across a wide range of verticals including healthcare, public safety, transportation and utilities.  AddSecure manages a highly secure communications platform enabling the automated control and remote monitoring and management of sensors and other devices deployed in the field. The company was established after the merger of the Viking Venture backed company Safetel AS and Multicom Security in 2014. Safetel AS was founded in 2000 based on a fundamental belief that mobile communication networks would be well suited to provide secure critical communication. Safetel received funding from Viking Venture, B. Skaugen AS and Follum Invest and grew quickly to become a strong Nordic player. Following the merger, AddSecure has grown into employing around 120 people, having 120,000+ active subscribers and a strong network of over 1,000+ channel partners in Norway and Sweden. The company had revenues of SEK 374 mill. in 2015 with an EBITDA of SEK 124 mill. “AddSecure is a great example of how we can develop world class Norwegian technology into internationally leading businesses through organic and inorganic growth”, said Erik Hagen, Managing Partner at Viking Venture. “AddSecure has managed to achieve a unique position within the Scandinavian secure communications market. Scandinavian tech companies are at the forefront of global development, and we truly believe AddSecure has the potential to establish itself as an international M2M communications player in the coming years”, said Rob Nicewicz, Principal at ABRY Partners. Read more in Adresseavisen June 17 2016 (only...
Viking Venture invests in Skooler

Viking Venture invests in Skooler

Viking Venture, a leading Nordic venturefund,  invests in Norwegian high growth software company Skooler. Viking Venture owns 41% of the company post the investment which sourced 22 million NOK (close to 3 mUSD) of growth capital into the company. Skooler is supplying Learning Management Tools (LMT) software for education and is known for its seamless integration into the Microsoft Office365 product suite. Viking Venture invests in Skooler in order to strenghten the company’s international expansion through supply of capital as well as experience and knowledge from successful software growth investments. Viking Venture is a previous investor in the Norwegian LMT company It’s learning. Roger Larsen, former CEO and founder of the successful LMT company Fronter, is an investor in Skooler and coinvests with Viking Venture in this round adding up to a total of 22 million NOK. – We are pleased to invest in such a high growth software companys as Skooler. They have developed 2nd generation LMT software, has an undisputable international potential and a very rapid growth in its user base, says Erik Hagen, managing partner in Viking Venture. Read the full press release (Norwegian...
Statoil extends subsea agreement with 4Subsea

Statoil extends subsea agreement with 4Subsea

Statoil has decided to extend their current frame agreement with Viking Venture portfolio company 4Subsea with another two years. The scope of the contract includes annulus testing and inspection on flexible risers on the Norwegian Continental Shelf (NCS). The original frame agreement lasted until June 2016. Statoil has now decided to utilise an option to extend the contract for two new years. – We are pleased that Statoil continuously trusts us to play an important role in maintaining production through the integrity management work we perform on flexible risers and flowlines”, says Torbjørn Amundsen, Senior VP Products and Business Development. Read the full article on 4Subsea.com. About 4Subsea: 4Subsea AS is an independent engineering company within subsea technology and renewable energy. The company was established in December 2007 and has a permanent staff of around 60. The staff consists of highly qualified chartered engineers with a unique blend of theoretical and practical experience within subsea technology.  ...
Exprosoft awarded well reliability work offshore Canada

Exprosoft awarded well reliability work offshore Canada

ExproSoft was recently chosen for two back-to-back studies on major offshore field in Canada. ExproSoft is pleased to be the preferred vendor for two well reliability studies in Canada, utilizing the global well equipment reliability database, WellMaster. The project work will provide the operator with invaluable insight into the failure mechanisms causing well failures, and an estimate on the expected number of interventions for the remainder of field life. The first study is a RAM analysis, which uses field experience and industry data (including WellMaster) to estimate future intervention needs and expenses. The second study is a QRA to establish the risk level for the wells on the field. Delivery of reports are June and October, 2016. ExproSoft is a software & consultancy company increasing well uptime for oil & gas operators. The company delivers solutions that allow operators to understand failures and risk of well equipment, and use this knowledge to reduce intervention cost and increase production throughout the wells’ life cycle. Visit exprosoft.com...