Esmertec IPO postponed

Esmertec has postponed its planned IPO. There was strong interest from investors in the company and it was due to float in late June had it not been for two major setbacks.

The company issued two press releases: one about an alleged patent situation and another regarding a client who was placed into administration. For this reason, management decided the conditions for the pricing and trading of the IPO were not optimal.

The company has received seven rounds of funding from VCs between 1999 and 2004 ranging from start-up and early stage funding to expansion funding. Investors include BV Group Ventures, Credit Lyonnais Private Equity, Earlybird Venture Capital, Invision, Partners Group, Rothschild Ventures and Sofinnova Partners.