Forte Netservices, MSP (Managed Service Provider) for networking and security solutions, and Eqvitec Technology Fund III (ETF III) have signed an agreement as part of the MBO arrangement. The fund invests €3.5 million in Forte. This will give the fund a minor stake in the company. The capital injection offers Forte additional resources in to accelerate the growth strategy and service concept development.

Forte’s business has grown strongly since the company was established in 2000. The company’s revenue in the fiscal year 2007 was €5.2 million. The demand for the Forte’s packaged services has been very strong during the past years and it is expected to grow rapidly in the future as well.

Forte is targeting to multiply its revenue by 2011 and to expand its business to Finland’s neighbours in Russia, the Baltic region and the Nordic countries. Forte’s services are currently deployed in over 50 countries. Going international has mainly taken place through Forte’s current Finnish enterprise customers.

Markus Lankinen, Forte’s CEO and one of the founders of the company explains:
“Organic growth is not enough to take our growth strategy to the desired level. We need support from a venture capital company like Eqvitec. They have the experience as well as expertise. Additional funding provides us with the solid resources to grow internationally and to develop our services, along with acquisitions.”

Juha Mikkola from Eqvitec Partners adds: “Forte’s existing service portfolio and the new coming services will enable fast growth both in Finland and abroad. A good business model, experienced and skilled personnel, together with good market potential make Forte an interesting growth company from the point of view of the ETF III fund.”

More information:

CEO Markus Lankinen, Forte Netservices Oy
Tel. +358 41 456 3845
E-mail: markus.lankinen(at)fortenetservices.com

Juha Mikkola, Eqvitec Partners Oy
Tel. +358 50 590 0522
E-mail: juha.mikkola(at)eqvitec.com

Forte Netservices Oy
Forte Netservices Oy develops and administers security, networking and availability services for enterprise customers. Forte’s revenue was €5.2m in 2007. Established in 2000, and with 26 employees the company has quickly achieved a strong position as a trusted partner for large and mid-size companies by managing their global security and data communication services. Forte’s services are used in more than 50 countries across the world. The company is based in Helsinki, Finland. www.fortenetservices.com.

Eqvitec Partners Oy
Eqvitec Partners is one of the largest technology focused venture capital firms in Northern Europe. The company was founded in 1997 and employs 15 investments professionals in Helsinki and Stockholm. Eqvitec Partners currently advises five funds with a total capital base of €440 million. The funds invest in growing technology companies from start-up to later-stage phases. At present, the funds have investments in 40 technology companies and have successfully carried out 30 exits.
www.eqvitec.com