Advised Kreatel Communications, a developer of innovative Internet Protocol (IPTV) digital set-tops, on its sale to Motorola
We are pleased to announce that Arma Partners has acted as exclusive financial advisor to Kreatel Communications AB, of Linköping, Sweden, in its proposed acquisition by Motorola, Inc. (NYSE: MOT) , which was announced on 17 January, 2006. The transaction marks the thirteenth announced technology M&A transaction on which Arma Partners has advised since the firm was founded in 2003.
Kreatel (www.kreatel.com) is a leader in developing and providing innovative Internet Protocol based digital set-top platforms (IPTV) to telecoms service providers. Its customers include Telefonica, KPN and TeliaSonera. The transaction illustrates the continuing vitality and worldwide interest in the provisioning of IPTV services over broadband networks and its associated technologies. It also represents another example of the consolidation trend in the broader telecom equipment sector, which we expect to be a continuing theme of the M&A market for the remainder of 2006.
Kreatel is owned by its management and institutional shareholders, including ABN AMRO Capital, SEB Företagsinvest, Innovationskapital and Bure Equity. Terms of the transaction were not disclosed, although Bure Equity, listed on the Stockholm Exchange, announced that it expected to receive approx SEK40m net (approx. $5.2m) for its 4.9% holding.