3i supports RedLynx to grow interactive media business
3i, a world leading venture capital company, today announces its acquisition of a 12.5% stake in Redlynx Ltd, a Finnish provider of interactive TV programming services.
With 3i''s support, Redlynx is building the foundations for growth and further international expansion. Redlynx specialises in producing interactive cross-media content and technology for TV broadcasters, mobile operators and content producers. Examples of RedLynx''s products comprise new types of advanced interactive TV programmes, in which TV viewers participate by sending SMS-messages from their mobile phones.
Redlynx has successfully attracted a host of international TV and mobile customers including Finnish TV4 and MTV3, Belgian VT4 and VTM and German SuperRTL (which runs highly popular daily youth programmes) and Nokia, for mobile content, to name a few. In total, Redlynx''s interactive TV programmes are broadcast in over 20 countries via TV channels in Europe, South America, the Middle East and Asia.
The company was founded in 2000 and currently employs 40 staff, mainly in Helsinki. The company''s turnover in 2005 was approximately three million euros.
Traditional online media models, particularly TV, internet and mobile, are experiencing a major transformation due to technological advances and the effects of media convergence. As such, the nascent market for interactive content and services is poised for significant growth in the future.
"We are now more ready than ever to leverage the growth of these markets via 3i''s funding. We will be investing in globalisation more than before", says Tero Virtala, Redlynx''s Managing Director.
"3i sees the media and interactive entertainment market as a growing opportunity for new enterprises. Redlynx has the potential to become a significant player within this field and we are thrilled to assist Redlynx as it embarks on its international growth path" says Vesa Sadeharju, Director of 3i Nordic.
Notes to editors
About 3i
3i is a world leader in private equity and venture capital. We focus on Buyouts, Growth Capital and Venture Capital and invest across Europe, in the United States and in Asia Pacific. Our competitive advantage comes from our international network and the strength and breadth of our relationships in business. These underpin the value that we deliver to our portfolio and to our shareholders.
In the 6 months to 30 September 2005, 3i achieved realisations of over £1bn and invested £835m, including co-investment funds, of which 3i''s Venture Capital business invested £58m in early stage technology companies globally across four specialist sectors: communications, software, healthcare and electronics, semiconductors and advanced technologies ("ESAT"). Its portfolio of 200 companies includes Vonage (VOIP), Udex (RFID), Microsulis (medtech), EnOcean (energy) with successful realisations through Interhyp, dtms, RedDot, Element5, Bookham, CSR, Arakis, UbiNetics and many others.
www.3i.com
About Redlynx
Redlynx Ltd. is a leading producer of interactive TV programmes and multimedia services. The company has offices in Helsinki, London, Hong Kong and Beijing and employs 40 people with a turnover of approximately three million euros. Redlynx produces interactive TV programmes, multimedia services and associated supporting technologies, particularly for TV companies, mobile operators and content producers.
www.redlynx.com