On April 11, 2005 MCI Management S.A. investment fund concluded an agreement with Nova Communications Group, owner of IT company Comtica Sp. z o.o., on the basis of which it will invest 2.5 mln PLN in Comtica Sp. z o.o. within 3 years. Comtica will use the funds for further development of its offer and intensification the sales in Poland, in Europe and in the world.
After the completion of all investment rounds the estimated shareholding of MCI in the share capital of the Company shall exceed 40%. The investment Agreement stipulates the acquisition by MCI Management S.A. in the first investment round of the new issue of shares for 500,100 PLN. The purchased shares shall in total account for 20.00% of the share capital of Comtica Sp. z o.o. The investment Agreement shall entitle MCI Management S.A. to perform next investment rounds in the years 2006-2007: the second round assumes direct investment of the company and the third round enables MCI to partially buyout of the previous branch investor of the Company. The level of investment in next rounds shall correlate with the demand of the Company for additional capital and it shall be based on current results of the Company.
Comtica Sp. z o.o. is a developer and integrator of dedicated solutions based on mobile and IT-Internet technologies. The company concentrates on business processes improvement in medium-sized and large business entities as well as on multimedia solutions integrating the audiovisual content, mobile technologies and interactive TV formats. The company was set up in 2000. Since the very beginning of its operations the growth of the company has been connected with the growth of competences in the area of corporate portals and mobile solutions. The company has a long reference list of clients and projects. In 2003 Comtica was awarded ZĹoty Bit distinction for the best information circulation product and it was qualified by Lockheed Martin for offset program. Since 2004 the company has been successfully developing its product range for the interactive television market â multiscreen.tv. Multiscreen.tv is a technology platform for management of interactive entertainment on TV, mobile telephones and the Internet. The company has reference from the implementation of the platform in Poland (4Fun.TV) and abroad (Kiss.TV). In 2004 Comtica generated 2,227 thousand PLN in revenues from the sale of its own solutions and services.
The strategic objective of the company is the strengthening of its position of the provider of dedicated solutions of corporate portals in Poland and becoming one of the key players on the market of providers of solutions for interactive television in Central and Eastern Europe.
The capital gained from the Fund shall be used for further growth of product range of the company and for financing of the growth of sales in Poland as well as abroad. “Comtica after identifying of the needs of the market and the development of product range entered the path of dynamic growth. Finding of a known Venture Capital Fund will surely enable the acceleration of the implementation of the strategy of growth of the company. Now the quality of our solutions is confirmed not only by the clients but also by an experienced technology investor”, said PaweĹ Laskowski, President of Comtica Sp. z o.o.
MCI Management SA shall play the role of the financial investor actively supporting the growth of the company. “The commitment of MCI in Comtica is the result of the implementation of the strategy of the Fund assuming greater investment exposure in the area of mobile solutions and services. We chose Comtica due to its previous achievements and potential of growth. The executive staff of the company demonstrates the right mix of technological and sales competences and it proved that it can effectively develop business idea from the stage of idea to repeatability of sales”, said Tomasz Czechowicz, President of the Board of MCI Management S.A.
Over the last 4 years Comtica has been incubated in the holding of Nova Communications Group. It has been growing based on the group resources and created its products making the most of the synergy of the companies belonging to Nova CG. Breakthrough came with the launch of 4funTV â a teenagers’ TV channel for which Comtica developed from scratch and implemented the whole technology platform.
“Comtica Sp. z o.o., member of Nova Communications Group, developed a unique technology enabling its dynamic growth. MCI as our investor in further growth of our IT company is for Comtica a great success and a chance for strengthening its position in the Polish market as wellas for international growthâ, said Dariusz Stokowski, President of the Board of Nova CG.