Republica?s internationalisation backed by CapMan

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Investee Company – Republica Oy

Investee Company Country – Finland

Investee Company Business Type – Develops Internet communications software

Type of Financing – Expansion

Equity Providers – Capman Capital Management Oy

Equity Leader (Individual) – Jari Talvinen, Capman Capital Managament Oy

Debt Providers – N/A

Debt Type – Convertible debt to be provided upon completion of pre-determined milestones

Debt Leader (Individual) – N/A

Equity Amount – Undisclosed – funds managaed by Capman will own one fourth of Republica

Total Deal Value – Undisclosed

Other Advisors – PricewaterhouseCoopers,Borenius & Kemppinen

Comments – Helsinki-based Republica Oy, a finish developer of Internet communication enabling technologies, awaits additional funding from CapMan Capital Mangaement Oy. The investment will fund Republica’s international market entry, expanding the current customer base in Europe and to further product development.

Republica X-Fetch product family facilitates integration between and within differing IT systems (EAI, Enterprise Application Integration), utilising WWW and WAP browsers together with XML and agent-based technologies for real time data communication between customers’, suppliers’ and other partners’ IT systems.

Republica CEO Jouko Salonene, commented: “CapMan has value-adding expertise in Republica’s core business areas. The co-operation will give a strong basis for further development of the company.”

Near term challenges include strengthening the sales and marketing organisation as well as further developing company’s consulting and implementation services. In addition, it will continue to invest heavily on product development; product develoment where efforts are geared towards further improving user friendliness and mobile features of the X-Fetch product family.

The Helsinki-based company, founded in 1996, has received two rounds of prior funding from Midinvest. Seed financing was received in January 2000, Midivest also provided early stage funding of euro160,000 in June.