Industrifonden exits Accedo with 7x return on investment
Industrifonden sells its entire holding in Accedo, the global leader in television and video experience services, to SEB Private Equity. In recent years, Accedo has been named one of Sweden’s fastest growing companies. The company has SEK 320 million ($40 million) in revenue, more than 100 million users and 400 employees globally. The transaction generates a return of seven times the investment for Industrifonden.
Accedo’s TV and video solutions are used by hundreds of millions of people globally. The company has close partnerships with some of the world’s largest media players such as Netflix, Sky, Universal, Disney and Samsung. Accedo has shown an aggressive growth, and in the past five years the company has grown by 1000 percent. Previous year’s figures show a turnover of SEK 320 million ($40 million). The founders, Fredrik Andersson and Michael Lantz, are main owners of the company along with Industrifonden as main investor.
– Like many entrepreneurs, we started out as a small company with a big vision of solving a problem in a traditional market. Finding a perfect match with investors representing the right skills is extremely important, but also challenging. For us, long-term and close involvement with our investors has been key to our success. Today we are a global company with SEK 320 million in turnover last year, and it is now time for the next exciting phase, says Michael Lantz, CEO and co-founder of Accedo.
Industrifonden made its initial investment in Accedo in 2007. At the time, the company had SEK 3 million in revenue. Industrifonden’s exit in the video experience pioneer generates seven times the investment.
– Michael, Fredrik and their team has shown an impressive ability to change over the years, to fulfil their vision to change the TV experience globally. Today, Accedo is a world leader in TV and video applications. In addition, the team has done very well in terms of growing, both quickly and over time, says Tore Tolke, Investment Manager at Industrifonden and member of the board at Accedo.
In addition to the acquisition, Accedo secures a total financing of up to $10 million for further growth and innovation.
Industrifonden is a Sweden-based venture capital investor focusing on early stage tech and life science companies with international potential. Industrifonden is an active partner to companies with ground-breaking ideas and capacity to grow. Industrifonden is an evergreen fund with SEK 4 billion ($500 million) in assets.
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Accedo is a trusted video experience transformation pioneer turning TV viewers into video lovers. The company was founded in 2004 by Michael Lantz and Fredrik Andersson on a simple observation: emerging technology will transform how people consume television and video, but networks, operators, broadcasters, brands and new market entrants will struggle to keep up with the complexities of the new environment and ecosystem. Accedo consists of a portfolio of customer-centric video solutions that shorten time-to-market, improve operational agility, and boost monetisation capabilities. Today, the company has 16 offices across the globe in North America, South America, Europe and Asia-Pacific, and have worked with more than 350 customers.
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