Seed funding for new merger

Investee Company – KeySoft Entellect (Switzerland)

Investee Company Business Type – Provides mobile messaging and multimedia applications

Type of Financing – Seed

Equity Providers – HPI Holding S.A.

Equity Leader (Individual) – Vincent Bossel, Stéphane Crettex and Denis Gonseth

Debt Providers – N/A

Debt Type – N/A

Debt Leader (Individual) – N/A

Equity Amount – CHF1.5 million

Total Deal Value – CHF 1.5 million

Other Advisors – Legal – Pestalozzi Lachenal Patry in Geneva

Tax – Arthur Andersen in Switzerland and PWC in Australia

Comments – HPI Holding has invested CHF1.5 million in the seed funding of KeySoft Entellect. HPI will hold 40.3% of the company which was formed through the merger of two of HPI’s existing portfolio companies.

The completion of the merger of KeySoft Consulting SA, a Swiss company and Entellect Solutions Pty Ltd, an Australian based company, was announced yesterday. The new company will provide innovative mobile messaging and multimedia applications which allow businesses to extend their reach with greater ease and flexibility.

The company will have its corporate headquarters in Geneva, Switzerland and Asia Pacific headquarters in Sydney, Australia, so it will be well placed to address over 60% of the worldwide business mobile market.

HPI chairman Denis Goseth said: “KeySoft Entellect enhances the HPI portfolio and is an essential part of our strategy to strengthen our presence in this evolving wireless space.”

Dario Duran, CEO of the new entity said: “The merger allows KeySoft Entellect to service the emerging wireless messaging market in its entirety. From individuals wishing to mobilise their PC-based e-mail through to operators looking to differentiate their wireless service offerings, we are now able to offer the whole spectrum of business users secure and reliable access to their critical business information, regardless of time or location.”