« MirriAd Funded for Embedded Ads Business | Main | Lack of Exits Is Not Slowing RSS Feedreading Innovators »
September 28, 2007
Risc Acquires French-VC-backed Ornis
Elaia Partners informs us that Risc Group has acquired portfolio company Ornis, a telecoms-oriented managed service provider, for €35M.
This was the fourth recent acquisition by Risc, which is also in the managed services biz, according to 01Net. The others are BESDI, LINONE, and Backup Avenue, which were all smaller rivals offering backup and security services.
ORNIS is doing about €17M a year in sales and last year it had a a net income of above €1M. It forecasts EUR 22 million of revenues for 2007. Its customer base comprises 1500 SMEs.
The buyer, Risc Group, is doing about €39M a year in revenues.
Besides Elaia, the other investors were Iris Capital, Elaia Partners, Société Générale Asset Management, 123Venture and Crédit Agricole Private Equity.
Posted on September 28, 2007 06:25 AM | Posted to News And Updates | Permalink
Trackback Pings
TrackBack URL for this entry:
http://www.thealarmclock.com/mt/mt-tb.cgi/6035
