Deggendorf, Germany, 23rd July 2009 * * * congatec AG announces that Technofonds Bayern (The Bavarian Technology Fund) of Bayern Kapital GmbH (Bavaria Capital) intends to increase its holding in the company by injecting a further one million Euros, together with a group of lead investors. Their total share holding will thereby increase to 11.1 %.
congatec will utilize these funds for the continued expansion of its development activities, particularly in the field of energy-saving computer modules for mobile applications. A sizeable portion of the funds will also be allocated to financing the further growth of the business.
Gerhard Edi, Managing Director of congatec AG, comments: "Since the business was founded four years ago, we have been able to significantly increase its turnover every year to the current annual level of 27 million Euros in 2008. We have set equally ambitious goals for the future and our continued growth will be partly financed by the Technofonds Bayern's stake in the business." Edi believes that one of the reasons for the success of congatec AG is its clear focus on the modules sector, in which the company has established a significant market share within a very short space of time.
Technofonds Bayern, which is managed by Bayern Kapital, provides venture capital to upcoming Bavarian technology companies in order to help finance investments and operational resources in various business phases. It does this in cooperation with other investors, known as "lead investors".
The group of lead investors, all of which invested in congatec AG at a very early stage, have many years of experience in the embedded computer technology sector. In addition to the clear product focus of the company, crucial factors in attracting the investment included the innovative team of employees at the company as well as the generally successful business and market development in the sector during recent years.
About Bayern Kapital GmbH
Bayern Kapital GmbH was founded at the end of 1995, as a wholly-owned subsidiary of LfA Förderbank Bayern, as part of the Bavarian State Government programme entitled Bavarian Future Initiative. Since then, Bayern Kapital has become an important location factor as well as a catalyst for private financing in Bavaria. Bayern Kapital provides venture capital for founders of hi-tech businesses and upcoming technology companies, usually together with other investors. Bayern Kapital currently manages five venture capital funds with a total volume of around 190 million Euros. So far, approximately 145 million Euros of this capital have been invested as venture capital in 180 technology-oriented companies in a wide variety of sectors, such as biotechnology/life sciences, software & IT, medical technology, raw and new materials, nanotechnology and environmental technology. The majority of these companies have, as a result, been able to establish a successful market position and thereby create numerous jobs for highly qualified personnel.
www.bayernkapital.de
About congatec
Based in Deggendorf, Germany, congatec AG is an innovative provider of industrial computer modules based on Qseven, COM Express, XTX and ETX standard form factors. Thanks to this specialization and with an annual revenue of 27 million Euro (2008), congatec has established itself as a leading supplier in this sector. The company's products support all types of industry applications spanning the industrial automation, medical and automotive as well as the aerospace and transport sectors. Key know-how includes extended BIOS and driver support as well as comprehensive board support packages. Customers receive complete product lifecycle support starting early during the design-in stage. All congatec products are manufactured by specialised contract manufacturers who fulfil the latest quality standards. congatec currently employs 75 staff and has offices in Pilsen/Czech Republic, Taipei/Taiwan and San Diego/USA. More information about the company can be found by visiting www.congatec.us
