As previously communicated, AB Novestra’s co-investment vehicle Continuum Group Ltd has agreed to sell its holding in Speedera Networks, Inc. to Speedera’s main competitor Akamai Technologies, Inc.
At closing, each Speedera share owned by Continuum will be exchanged for Akamai common shares. The Akamai shares or proceeds thereof are to be distributed to Continuum’s shareholders. At yesterday’s closing prices, the transaction would have resulted in a return on investment of approximately 230 percent based on Continuum’s acquisition cost. Akamai expects closing to occur in mid-June of this year following customary approvals by American authorities and shareholders.
“We expect that dividends from Continuum during the next twelve-month-period will contribute to further improving our liquidity. The effect of the Speedera transaction on Novestra’s result will be dependent on the movement in the Akamai share price as well as the development of the dollar. As Continuum is likely to be closed down by the end of next year, the remaining assets are to be distributed to the company’s shareholders”, 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 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. Active Biotech AB (publ), Bytek Systems AB, Explorica, Inc., inWarehouse AB (publ), Millicom Cellular International S.A., MyPublisher, Inc., Netsurvey AB, Pergo AB (publ), Qbranch AB, Strax Holdings, Inc. and Wilh. Sonesson AB (publ) as well as Speedera Networks, Inc. through the co-investment vehicle Continuum Group Ltd.
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 .