Quartal has bought back CapMan’s shares in the company. Quartal is a Finnish IT and software company that delivers solutions and services for financial reporting and online investor relations. Financial details of the transaction are undisclosed.
CapMan funds Finnventure IV, Finnventure V, and Finnventure V ET invested in Quartal Oy in 2000 for an undisclosed sum. Quartal’s turnover totalled €8.3m in 2005, and the Group has 95 employees in Finland, Germany and Switzerland. In autumn 2005 Quartal’s subsidiary content management was sold to Satama Interactive Plc.
CapMan’s senior partner Petri Saavalainen said: “Quartal’s business has developed very well, and the company’s profitability is at a good level. Quartal has all the prerequisites to independently develop its business.”