NOVESTRA: SWISSCOM INVESTS IN DIINO AB
Novestra’s portfolio company Diino AB has closed a round of financing. Swisscom, one of the leading telecom companies in Europe, invests EURO 2.3 million in the company. Swisscom’s ownership, fully diluted, will be approximately 25 percent of the capital and votes in Diino AB.
In connection with Swisscom’s investment, Novestra has converted a part of its outstanding loans. After the conversion and Swisscom’s investment, Novestra’s ownership in Diino AB will be approximately 49 percent, and by converting the remainder of its convertible loans Novestra’s ownership can reach approximately 52 percent of the capital and votes in Diino AB.
“During the last twelve months, Diino has reached a number of mile-stones and the company has got a lot of international attention for its Internet service. Today, Diino is a leading online storage service provider, and we believe this is the right time to partner up with a strong industrial partner that understands the technologies behind the Diino service and the Internet environment.” says Marcus Söderblom, Vice President and Investment Manager, AB Novestra.
Diino (www.diino.com) is an easy and secure online storage service with the ability to store, share, manage and access digital information on the Internet. During the spring 2007, the number of end-users has increased fast and by the end of June 2007, Diino’s customer base amounted to approximately 120 000 end-users.
For further information please contact Marcus Söderblom, Vice president and Investment Manager, AB Novestra, telephone no. +46 8 545 01750,
About AB Novestra
Novestra is an independent investment company with a portfolio of investments in a number of privately held growth companies including Diino AB, Explorica, Inc., MyPublisher, Inc., Netsurvey AB, Qbranch AB and Strax Holdings, Inc.
The Novestra shares are listed on the OMX Nordic Exchange Stockholm. For further information regarding AB Novestra, reference is made to www.novestra.com