Norvestia - Inside information

A SIGNIFICANT EXIT OF IDEAN ENTERPRISES OY FOR NORVESTIA

Helsinki, Finland, 2017-02-16 07:30 CET (GLOBE NEWSWIRE) -- 

Norvestia Oyj           Stock Exchange Release       16 February 2017 at 8:30

A SIGNIFICANT EXIT OF IDEAN ENTERPRISES OY FOR NORVESTIA

Norvestia has agreed to sell its ownership in the rapidly growing Idean
Enterprises Oy to the global IT services Group Capgemini. Capgemini will
acquire the entire share capital of Idean and the transaction is estimated to
close by the end of February. Norvestia invested in Idean in 2014 and owned
24.8 per cent of the company. Norvestia is part of CapMan Group. 

31 December 2016, Norvestia’s Net Asset Value (and shareholders’ equity) was
EUR 124.6 million. The effect of the sale on Net Asset Value corresponds to
approximately 6 per cent in the first quarter of the year. According to market
practice, the final purchase price is determined in the next two years
following the exit. The parties have agreed not to disclose the purchase price
but the exit has a significant positive effect on cash flow upon completion.
Norvestia’s original investment in Idean was EUR 3.3 million. 

Idean is a global design firm that works with the world’s leading companies,
helping them create long-lasting relationships with their customers, through
truly value-creating experiences. Idean’s core know-how is the design of
different strategic customer and user experiences. 

”Idean has been an excellent investment for us. Our goal was to take Idean’s
design know-how global and in this we have succeeded well – Idean is the first
Finnish-born design company to make a breakthrough in the US. We are proud that
we have had the opportunity to co-operate with professionals of Idean. This
transaction represents a marquee deal by any metrics and proof that Idean’s
know-how is highly appreciated“, says Juha Mikkola, member of the Board of
Idean and Senior Investment Director at Norvestia. 

”The active cooperation with Norvestia has had a significant impact on the
growth and development of our company, and we are very grateful to Norvestia
for their support. Idean has grown profitably and our team today consists of
over 150 designers, technologists and strategists. A significant part of our
current customers are major global companies”, summarizes Risto Lähdesmäki,
Founder and CEO at Idean. 

Helsinki, 16 February 2017

NORVESTIA OYJ

DISTRIBUTION
Nasdaq Helsinki
Main media

More information:
Norvestia Oyj / Juha Mikkola, Senior Investment Director, p. +358 50 590 0522,
juha.mikkola@norvestia.fi 

Idean Enterprises Oy / Risto Lähdesmäki, Managing Director, p. +1 650 308 6288,
risto.lahdesmaki@idean.com 



Norvestia Oyj is a publicly listed investment company. Norvestia’s twofold
investment strategy consists of market investments and Growth Equity. Growth
Equity investments are made in Nordic unlisted companies, growth-oriented
listed companies and private equity funds. The target of Norvestia’s Growth
Equity investment activities is to be an active investor together with other
main owners, and increase the value of the target company. Investments are
long-term and no strict time limit are set for exits. Norvestia’s Growth Equity
portfolio consists of Aste Helsinki, Coronaria Hoitoketju, Digital Workforce
Services, Fluido, Polystar Instruments and Touhula Varhaiskasvatus. In
addition, the company has investments in private equity funds. Norvestia is a
subsidiary in the CapMan Group since 19 December 2016. www.norvestia.fi 

Idean Enterprises Oy is a Finnish-born company specialized in the design of
digital services and user experiences, whose customers include world-leading
companies in Europe, the US and Asia. Hundreds of millions of people all around
the world use the services designed by Idean. In 2016, Idean’s revenue amounted
to EUR 25 million of which 70% came from international markets. Idean’s studios
are located in Finland (Helsinki, Tampere), Germany (Berlin) and in the US
(Palo Alto, San Francisco, Los Angeles, Austin (TX) and New York). The company
employs over 150 people. www.idean.com