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Press Release
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March
8, 2002, Sweden
connectBlue signs
financing deal with Schneider
Electric
connectBlue today announced that
Schneider Electric Ventures, an
investment fund dedicated to
providing equity capital for
small, innovative organisations,
has agreed to an undisclosed
financial investment in the
Swedish company. As a result
of the deal, Schneider Electric
will acquire a 19 percent stake
holding in connectBlue.
Schneider Electric Ventures is a
division of Schneider Electric, a
leading multi-national power,
industrial control and automation
specialist. The venture
capital company was founded in
2000 with initial funding of 50
million Euros to grant investment
funding to promising start-up
companies specialising in
technologies close to Schneider
Electric activities and critical
to the products and services of
tomorrow. connectBlue, which
specialises in the integration of
the Bluetooth™ technology into
industrial environments, clearly
fit this profile.
The Schneider Electric investment
coincides with an increased
injection of funding from original
investment backers, Briban Invest,
Malmöhus Invest and Midway
Holding, placing connectBlue in a
strong financial position for
future development.
Rolf Nilsson, President at
connectBlue said, “this capital
investment from Schneider Electric
will not only strengthen
connectBlue’s operations and
reputation but it will also enable
us to expand and develop at an
even greater rate, particularly in
global markets.
“In addition, I anticipate that
our connection with Schneider
Electric will create opportunities
for connectBlue to build business
links into the Schneider Electric
group of companies worldwide,
along with the possibility of
broadening our product
distribution throughout the
extensive Schneider Electric
network.”
Jean Netter, Fund Manager for
Schneider Electric Ventures said,
“connectBlue’s innovation and
expertise with the Bluetooth
technology caught our attention
and was immediately seen as a good
fit for Schneider Electric
Ventures.
“connectBlue was quick to
recognise and capitalise on the
potential of the Bluetooth
technology in different
environments, forging a reputation
as a Bluetooth pioneer in the
industrial market in particular.
In the two years since its
inception, the company has already
won and been nominated for several
product development awards for the
world’s first industrial
Bluetooth product and the first
wireless man to machine industrial
Bluetooth product. We see
great potential in this company
and will watch its ongoing
development with interest.”
connectBlue Chairman, Jan Barchan
said, “as a founding investor,
it is very pleasing see
connectBlue receive this kind of
endorsement from such a worldwide
player in the industrial
market.”
About conne
ctBlue
connectBlue, based in Malmö,
Sweden was founded in March 2000.
connectBlue is the leading
supplier of complete Bluetooth
solutions for industrial and
commercial use. connectBlue
provides its customers with hardware
and software solutions, Bluetooth
products and an extensive training
and seminar program.
Every connectBlue employee is a
carefully selected specialist
holding extensive experience with
industrial applications and
Bluetooth software and hardware
development and implementation.
www.connectblue.se
About Schneider Electric
Schneider Electric is the
world’s power and control
specialist through its world-class
brands Merlin Gerin, Modicon,
Square D and Telemecanique.
Schneider Electric anticipates and
satifies its customers’
requirements in the energy,
buildings, industry and
infrastructure markets.
Schneider Electric’s 72,900
employees generated sales of EUR
9.8 billion in 2001 via 9,000
sales outlets in 130 countries.
www.schneider-electric.com
FOR FURTHER INFORMATION:
Pelle Svensson, Marketing Director
connectBlue
Phone: +46 40 630 71 03
Email:
pelle.svensson@connectblue.se
Veronique Moine
Schneider Electric SA
Phone: + 33 (0) 1 41 29 70
76
Email:
veronique_moine@mail.schneider.fr
BLUETOOTH is a trademark owned
by Bluetooth SIG Inc., USA and
licensed to connectBlue
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