Northzone exits NextGenTel

TeliaSonera AB has acquired 82.3% of all shares outstanding in Norwegian broadband provider NextGenTel Holding ASA. The shares were acquired from Northzone, Geocapital Partners, and the other major shareholders. The consideration amounts to NOK65.50 per share. The offer represents a total value for the entire fully diluted issued share capital of NextGenTel of approximately NOK1.9bn.

Northzone and Geocapital invested in the $14.5m seed round of NextGenTel in April 2000. Four subsequent funding rounds followed from 2001 to 2003 from both Northzone and Geocapital and undisclosed investors The company listed in December 2003. Northzone has realized about €45m from the sale.