In connection with an impending introduction of a new software product for the broadband market, AB Novestra has come to an agreement to acquire 20 percent of the shares in Bytek Systems AB. Novestra, who has worked with strategic issues in the company for quite some time, has acquired its shares at nominal value. Both Peter Ekelund and Theodor Dalenson will be represented on Bytek Systems AB’s Board of Directors.
Bytek Systems has developed and patented a system for secure communication and storage of data within the field of private networks. During the upcoming six to twelve months, the company expects to license its products to Nordic broadband operators and simultaneously initiatives have already been taken to introduce the company’s main product on the U.S. market. A test introduction of the product will take place in Sweden in November.
“Bytek Systems has one of the most interesting products that we have seen in this area. After many years of research and development work, a commercial phase is now entered into. It will be very exciting to see how the products will be received by the potential customers which consist of small cap companies as well as private users,” Novestra’s Managing Director, Peter Ekelund, says.
”I am extremely pleased to have on board a partner such as Novestra who has already previously shown great interest in and commitment to our products. There is no question that our prospects for succeeding commercially increase considerably with the back-up on strategic as well as operative issues that Novestra can provide us with,“ Bytek System’s founder and Managing Director, Dani Duroj, says.
For further information, please contact:
Peter Ekelund, Managing Director, AB Novestra, phone No. +46 8 545 017 50 Dani Duroj, Managing Director, Bytek Systems AB, pone No. +46 8 27 45 89
About AB Novestra
Novestra is an independent investment company with a portfolio of small cap private as well as public companies. Novestra focuses on investing in companies with substantial growth or value potential.
Novestra’s portfolio of companies consists of i.a. Bytek Systems AB, Explorica, Inc., FLEXbridge Technologies, LLC, IBS AB (publ), inWarehouse AB (publ), Lagercrantz Group AB (publ), MyPublisher, Inc., Netsurvey AB, Pergo AB (publ), Qbranch AB and Strax Holdings, Inc. as well as the co-investment vehicle Continuum Group Ltd. The Novestra shares are listed on the O List of Stockholmsbörsen (the Stockholm Stock Exchange).
For further information regarding AB Novestra, please see www.novestra.com .