Atego Secures Major, Multi-Million Dollar Equity Investment
Poster: SySAdmin
Posted on February 1, 2012 at 9:07:01 AM
Atego Secures Major, Multi-Million Dollar Equity Investment
Raises Further Financing From Pool of Investors to Finance Expansion Into China and Further Acquisitions
SAN DIEGO, California and CHELTENHAM, England, February 1, 2012/PRNewswire/ --
Atego(TM), the world leading software tools and professional services supplier, for
complex, mission- and safety-critical systems and software engineering, announced today
that it has secured an additional, multi-million dollar equity investment. Existing
investor ETV Capital led the funding with participation from Albion Ventures, new investor
ESO and individual investors. The funds will be used to finance the Atego's current growth
plan combining organic and external, acquisition-driven growth.
"Atego is a unique company with a strong portfolio of software products and
professional services used daily by the largest global avionics, railways, automotive and
defense companies. While the massive, $20 billion global embedded systems market is
growing slowly, Atego has demonstrated a winning strategy allowing it to grow profitably
and with this new investment the company is now well placed for further expansion." said
Neil Pitcher, CEO at ETV Capital. "With such growth rates, an experienced management team
and a sterling list of customers, Atego offers a truly compelling investment opportunity
in Software and Systems Engineering."
Founded in December of 2009 through the merger of Artisan Software Tools and Aonix,
Atego has since acquired three companies in Europe and the US, better serving its global
customers and improving economies of scale.
The Company is also pleased to announce that as part of the fund raising, Richard
Horsman joined the board as Independent Chairman. Richard is a software industry veteran
having spent the last 9 years as CEO of Cybit Holdings Plc. and prior to this had senior
management roles with Global Telematics Plc., The Baan Company, Manugustics and Dunn and
Bradstreet Software (Geac). He is also currently a Non-Executive Director of Aim listed
Plethora Solutions Holdings Plc. Richard Horsman said "I am delighted to join Atego at
such an exciting time in the evolution of the business. As a result of our recent
investment round, Atego is now well funded and ideally placed to exploit both organic and
acquisitive growth opportunities. I am looking forward to working with the board as we
further develop and deliver against our strategy.
"The continued support we receive from our investors shows strong support of our
business plan. We continue to grow our core business profitably, both in existing
geographies as well as markets in Asia Pacific, while integrating recent acquisitions such
as HighRely Inc. and continuing to scan the market for further external growth
opportunities," said Pierre Cesarini, CEO of Atego. "These funds will strengthen our
balance sheet, finance our expansion in the fast-growing Chinese market and better place
us to exploit acquisition opportunities should they present themselves in the future."
About Atego
Atego is a world leading software tools and professional services company, focused on
helping organizations engineer complex, mission- and safety-critical systems and software.
With today's systems and software engineering projects continually growing in complexity,
Atego's collaborative development
tools, robust runtime environments, certification know-how and supporting services
enable abstraction, optimization and automation - dramatically increasing quality,
security and productivity.
http://www.Atego.com
About ETV Capital
ETV is one of Europe's leading providers of debt financing solutions for venture
capital backed technology and healthcare businesses. Founded in 1999, ETV has a long and
successful track record of investing in technology or intellectual property based
companies across Europe and Israel, diversified by industry and development stage.
http://www.etvcapital.com
About Albion Ventures
Albion Ventures LLP is a leading independent venture capital investor, managing
approximately $360 million across eight Venture Capital Trusts. Albion Ventures LLP is a
partnership formed by the Close Ventures' management team to acquire the business of Close
Ventures Limited. http://www.albion-ventures.co.uk
All trademarks are recognized and are the property of their respective companies.
Media contacts:
Beverley McFarlane
Tel: +44-1242-229-335
Email: Beverley.McFarlane@Atego.com
Please send reader enquiries to:
Atego, 5930 Cornerstone Court West, Suite 250, San Diego, CA 92121 USA
Tel: 888-91-ATEGO (+1-888-912-8346)
Email: info@Atego.com
Atego, 701, Eagle Tower, Montpellier Drive, Cheltenham, GL50 1TA, UK
Tel: +44-1242-229-300
Fax: +44-1242-229-301
Email: info@Atego.com
This press release (PDF format) can be downloaded from http://www.Atego.com.
Source: Atego
Raises Further Financing From Pool of Investors to Finance Expansion Into China and Further Acquisitions
SAN DIEGO, California and CHELTENHAM, England, February 1, 2012/PRNewswire/ --
Atego(TM), the world leading software tools and professional services supplier, for
complex, mission- and safety-critical systems and software engineering, announced today
that it has secured an additional, multi-million dollar equity investment. Existing
investor ETV Capital led the funding with participation from Albion Ventures, new investor
ESO and individual investors. The funds will be used to finance the Atego's current growth
plan combining organic and external, acquisition-driven growth.
"Atego is a unique company with a strong portfolio of software products and
professional services used daily by the largest global avionics, railways, automotive and
defense companies. While the massive, $20 billion global embedded systems market is
growing slowly, Atego has demonstrated a winning strategy allowing it to grow profitably
and with this new investment the company is now well placed for further expansion." said
Neil Pitcher, CEO at ETV Capital. "With such growth rates, an experienced management team
and a sterling list of customers, Atego offers a truly compelling investment opportunity
in Software and Systems Engineering."
Founded in December of 2009 through the merger of Artisan Software Tools and Aonix,
Atego has since acquired three companies in Europe and the US, better serving its global
customers and improving economies of scale.
The Company is also pleased to announce that as part of the fund raising, Richard
Horsman joined the board as Independent Chairman. Richard is a software industry veteran
having spent the last 9 years as CEO of Cybit Holdings Plc. and prior to this had senior
management roles with Global Telematics Plc., The Baan Company, Manugustics and Dunn and
Bradstreet Software (Geac). He is also currently a Non-Executive Director of Aim listed
Plethora Solutions Holdings Plc. Richard Horsman said "I am delighted to join Atego at
such an exciting time in the evolution of the business. As a result of our recent
investment round, Atego is now well funded and ideally placed to exploit both organic and
acquisitive growth opportunities. I am looking forward to working with the board as we
further develop and deliver against our strategy.
"The continued support we receive from our investors shows strong support of our
business plan. We continue to grow our core business profitably, both in existing
geographies as well as markets in Asia Pacific, while integrating recent acquisitions such
as HighRely Inc. and continuing to scan the market for further external growth
opportunities," said Pierre Cesarini, CEO of Atego. "These funds will strengthen our
balance sheet, finance our expansion in the fast-growing Chinese market and better place
us to exploit acquisition opportunities should they present themselves in the future."
About Atego
Atego is a world leading software tools and professional services company, focused on
helping organizations engineer complex, mission- and safety-critical systems and software.
With today's systems and software engineering projects continually growing in complexity,
Atego's collaborative development
tools, robust runtime environments, certification know-how and supporting services
enable abstraction, optimization and automation - dramatically increasing quality,
security and productivity.
http://www.Atego.com
About ETV Capital
ETV is one of Europe's leading providers of debt financing solutions for venture
capital backed technology and healthcare businesses. Founded in 1999, ETV has a long and
successful track record of investing in technology or intellectual property based
companies across Europe and Israel, diversified by industry and development stage.
http://www.etvcapital.com
About Albion Ventures
Albion Ventures LLP is a leading independent venture capital investor, managing
approximately $360 million across eight Venture Capital Trusts. Albion Ventures LLP is a
partnership formed by the Close Ventures' management team to acquire the business of Close
Ventures Limited. http://www.albion-ventures.co.uk
All trademarks are recognized and are the property of their respective companies.
Media contacts:
Beverley McFarlane
Tel: +44-1242-229-335
Email: Beverley.McFarlane@Atego.com
Please send reader enquiries to:
Atego, 5930 Cornerstone Court West, Suite 250, San Diego, CA 92121 USA
Tel: 888-91-ATEGO (+1-888-912-8346)
Email: info@Atego.com
Atego, 701, Eagle Tower, Montpellier Drive, Cheltenham, GL50 1TA, UK
Tel: +44-1242-229-300
Fax: +44-1242-229-301
Email: info@Atego.com
This press release (PDF format) can be downloaded from http://www.Atego.com.
Source: Atego