AB Novestra has participated in a new share issue in Explorica, Inc. which has provided the company with a total of MUSD 2.5. Novestra’s ownership in the company amounts to 13.6% and Novestra has options to increase its ownership stake to 16.6%.
Explorica produces and sells educational student travel. The company, which has its headquarters in Boston, USA, is one of the companies which has succeeded in taking advantage of the distribution and communication possibilities which the Internet can offer and has developed its own Internet platform in order to render all aspects of its operations more effective.
“We believe that the educational travel within Explorica’s focus area will increase substantially in the forthcoming years. Today, the company is already established within its sector and shows a considerable turnover. With its unique technology platform we see great potential in years to come. Explorica fits well into our present portfolio where all strategic holdings show considerable sales and, in some cases, have already reached profitability,” Novestra’s Managing Director, Nils Bengtsson, said.
“We are very pleased to have been able to secure the expansion capital which we need in order to reach profitability without forgoing growth. That Novestra becomes one of the larger shareholders in addition to the fact that we also have other financially strong owners is, naturally, an advantage,” Explorica’s President,
Olle A. Olsson, said.
For further information please contact:
Nils Bengtsson, AB Novestra, phone No. +46 8 545 017 50, or Olle A. Olsson. Explorica, Inc., phone No. +1 617 210 6100
About Explorica, Inc.
Explorica was founded in 2000 and has a management team with long experience within the travel industry sector that they work with. The company has quickly achieved a critical mass and today primarily runs its operations in the U.S. and Canada. In the next few years, Explorica intends to expand its operations to also include Asia and Europe.
For information regarding Explorica, Inc., please see www.explorica.com
About AB Novestra
Novestra is an independent venture capital investment company with focus on investments in growth companies providing enabling network technologies and services for the communications industry. Novestra’s portfolio of companies includes B2 Bredband AB, Continuum Group Ltd, myPublisher, Inc., Netsurvey AB, Qbranch AB and Strax Holdings, Inc. Novestra’s shares are listed on the O-List of Stockholmsbörsen.
For information regarding AB Novestra, please see www.novestra.com