STOCKHOLM, Sweden, Feb. 13, 2002 (PRIMEZONE) -- 3i:
-- 3i Group plc has invested in satellite communication enterprise SWE-DISH(r) Satellite Systems AB (formerly Swe Dish Wahlberg & Selin). -- SWE-DISH Satellite Systems is a high-growth Swedish enterprise enjoying international leadership in mobile satellite communication for broadband applications. Its customers include CNN, the BBC, SVT (Swedish state TV), the Swedish defense procurement agency FMV and NATO. -- Revenues in 2001 were over SEK 140 m.
SWE-DISH Satellite Systems was founded in 1994 and is headquartered in Stockholm. The Corporation develops, manufactures and markets compact, quick-to-air terminals and systems for civilian and military satellite communications. Its primary customers are major TV and media corporations such as CNN, the BBC and SVT (Swedish state TV), telcos like British Telecom, Ericsson and Sweden's Telia, plus a number of military organizations worldwide like NATO, the Danish armed forces and Swedish defense procurement agency FMV.
Johan Peterson, Investment Manager at 3i Nordic, adviser to 3i Group plc, commented: "SWE-DISH is an enterprise now in a promising developmental phase. It has a unique concept, and a first-class management and organizational resources. Our objective is to provide SWE- DISH with more than just funding. We possess solid industrial expertise, which SWE-DISH can benefit from."
Responding, Per Dahl, SWE-DISH's chief executive, said: "This capital injection provides us with a very solid foundation to pursue the development of our concept and products in a resolute manner. We take a very positive view of 3i as another professional and stable owner."
Apart from its founders, the main shareholder in SWE-DISH's is Litorina Kapital. At present, the enterprise has a staffing of 50 with its head office in Stockholm, factory in Kalix, northern Sweden, and sales office in the UK. SWE-DISH's latest product is a mobile satellite terminal, weighing just over 30 kg, which transmits live IP-formatted data at 2-4 Mbps, broadband quality. The combination of these features-a compact format and high transmission quality-is groundbreaking globally, and now in demand by basically all the world's major media corporations for up- to-the-minute news coverage.
About 3i Group plc
3i brings capital, knowledge and connections to the creation and development of businesses around the world. It invests in a wide range of opportunities from start-ups to buy-outs and buy-ins, focusing on businesses with high growth potential and strong management. 3i invests in businesses across three continents through local investment teams in Europe, Asia Pacific and the USA. To date, 3i has invested over 14 billion pounds (including co-investment funds). In the 6 months to 30 September 2001, an average of 4.8 million pounds (including co-investment funds) was invested each working day. In May 2001, 3i acquired Swedish private equity corporation Atle AB.
About SWE-DISH Satellite Systems
SWE-DISH Satellite System is one of the world's leading provider of mobile satellite communications equipment and associated services for broadband applications. The enterprise provides entities including TV and radio stations, civil, military and disaster recovery organizations with compact and quick-to-air satellite terminals to transmit video, data and voice content in real-time, worldwide.
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