AP6 takes joint ownership of Admeta
SWEDEN - Sjätte AP-fonden (AP6), the Swedish pension buffer fund, has become a joint owner of the internet marketing company Admeta.
The injection of capital from the Sixth Swedish National Pension Fund - which invests in a selection of private equity funds and directly in small and medium-sized unlisted companies - is designed to create new opportunities for expansion and to launch Admeta's new product for publishers.
Admeta claimed the investment would allow the firm to create 10 new positions in the firm, although the search for a new chief executive, researchers and developers is "just getting started".
This investment comes from the AP Partner Investments division, which recently acquired a 25% stake in Atlas Design AB in an effort to make it the leading fashion house for accessories. (See earlier IPE article: AP6 acquires 25% share of Swedish fashion house)
Mats Augurell, manager of AP Partner Investments, said: "We have a strong belief in this market and predict that ad markets in the future will be increasingly online-based, measured in real time and, most importantly, be focused on the advertiser. In this future, Admeta is a strong contender, due to their own patented and revolutionary technology."
Admeta's has developed and sold its primary product for advertisers - a web-based service to improve online advertising through automatic optimisation and tracking - since 2002, however investment from AP6 means the product base can now expand to include publishers.
Fredrik Strauss, Admeta's current CEO, said: "We predict a very exciting development within our market and we're prepared to challenge the traditional values and ideas of our industry."
Admeta recently received a SEK1.3m (€138,000) grant from the Swedish government through the Vinnova Forska&Väx programme, which finances research and development projects.
Clients using Admeta's products include Volvo, Hertz and Unicef, with recent appointments listed on the company's website including Renault and Absolut.
Figures from AP6 show the pension fund had a capital value of SEK19.6bn at the end of 2007, after it achieved an annual profit of 13.1% or SEK2.4bn.
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