Volvo Technology Transfer and Industrifonden sell Illuminate Labs

Volvo Technology Transfer and Industrifonden sell Illuminate Labs

Volvo Technology Transfer (VTT) and Industrifonden have sold the
portfolio company Illuminate Labs to the US CAD company Autodesk.
Illuminate Labs develops advanced lighting and illumination technology
for computer games.

After the sale, Illuminate Labs will be part of Autodesk Media &
Entertainment and continue its operations in Gothenburg. All employees
in the company are being offered a new position within Autodesk.

“We are proud to have contributed to the development of Illuminate Labs
into a world-leading company in its field,” says Ulrika N. Everingham,
Investment Director at VTT. “Autodesk's acquisition of Illuminate Labs
is confirmation of the company's niche expertise and business acumen.”

Illuminate Labs has developed two solutions that in just a couple of
years have become a proven technology for illumination in games. They
enable more rapid repetition of a game's creative intentions and give
games a more realistic lighting.

“Together with the team at Illuminate Labs, Industrifonden and Volvo
Technology Transfer show how the combination of expertise and
development capital can create successful companies,” says Dan Ekelund,
Investment Manager at Industrifonden.

Reporters who want more information, please contact:
Dan Ekelund, Investment Manager, Industrifonden, tel +46 70 591 29 52

Ulrika N. Everingham, Investment Director, Volvo Technology Transfer,
tel +46 706 31 71 97.

 

September 6, 2010

 

 

About Volvo Technology Transfer

Volvo Technology Transfer AB focuses on developing and supporting new
businesses relevant to the Volvo Group. Part of this effort is to invest
in companies and projects that are technologically and commercially
attractive. The company also supports the development of
entrepreneurship and innovation within Volvo.

 

About Industrifonden

Industrifonden (www.industrifonden.se (http://www.industrifonden.se/))
offers venture capital, competence and a network of contacts to Swedish
growth companies in most sectors. Industrifonden offers two types of
capital: development capital to small technology companies and expansion
capital to more mature companies that want to grow. The fund has assets
of SEK 2.9 billion, of which SEK 1.6 billion are invested in about one
hundred companies in technology, cleantech, life science and industry.

 

   

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