AB Novestra has increased its ownership in Bytek Systems AB to 45% of capital and votes. Furthermore, Novestra has secured an option to further increase its ownership and enable a consolidation of Bytek Systems in the future.
Bytek Systems has small operations in Sweden and the U.S. and has, during the past few years, developed and patented a software enabling secure file sharing and storage of data. The company has recently signed a license agreement with Bredbandsbolaget (Telenor) in Sweden and with Telmex S.A. for Mexico and South America.
The primary service NETPOD® is available for both private consumers using NETPOD® for storage of files for music, photos and film as well as professional users, primarily in small and mid-sized companies who need an easy and secure way of transferring files within private networks.
“Bytek Systems has developed and patented a software that can be applied for a range of data services. The customers are broadband operators who can bundle the NETPOD® service with their Internet access services at a very low cost. Novestra believes that this type of services will increase and become a critical part of any Internet and data service offering in the future, and hopes that Bytek Systems will be able to capture a part of this market. We have been actively involved in the development of Bytek Systems for a considerable time and have been able to acquire our large stake at a very attractive valuation,” Novestra’s Managing Director, Peter Ekelund, says.
For further information please contact Peter Ekelund, Managing Director, AB Novestra, phone No. +46 8 545 017 50.
About AB Novestra
Novestra is an independent investment company with a portfolio of investments in a number of privately held growth companies including Bytek Systems AB, Explorica, Inc., MyPublisher, Inc., Qbranch AB and Strax Holdings, Inc. In addition, Novestra has holdings in a number of public companies through Nove Capital Fund, a special situations fund focusing on the Nordic region.
The Novestra shares are listed on the O List of the Stockholm Stock Exchange. For further information regarding AB Novestra, reference is made to www.novestra.com.