Wicom gets expansion finance

Investee Company – Wicom Communications Ltd (Finland)

Investee Company Business Type – Provides and develops communications management solutions

Type of Financing – Expansion

Equity Providers – Accenture Technology Ventures, 3i, Stratos Ventures

Equity Leader (Individual) – No one individual all three companies shared the lead

Debt Providers – No debt provided

Debt Type – N/A

Debt Leader (Individual) – N/A

Equity Amount – £8.19 million (euro13 million)

Total Deal Value – £8.19 million (euro13 million)

Other Advisors – N/A

Comments – Wicom Communications Ltd is a privately owned company based in Finland. It is a spin off from Merlin Systems Oy and was established in 1999. The company is built upon ten years experience in CTI (Computer Telephony Integration) applications and is now an established provider of voice over IP-based communications management solutions.

This is the company’s third venture capital funding round. Ilkka Kivimaki, president and CEO of Wicom, said: “It is of great benefit for the acceleration of Wicom’s growth to have the funding that Accenture Technology Ventures, 3i, and Stratos Ventures provide for Wicom to execute both its R&D and growth strategy to move towards market leadership.”

Kimmo Korpela, investment manager at 3i Finland, said: “Wicom has already shown clear evidence of its capabilities in both developing a leading edge product and also bringing it to the market.”