EMS-Global secures key strategic VC shareholder
EMS-Global secures key strategic VC shareholder
AUCKLAND, 5 December 2002 - EMS-Global Ltd, New Zealand's leading provider of secure Internet connectivity services, has secured a second key venture capitalist shareholder, TMT Ventures, whose corporate partner investors include Telecom New Zealand, Alcatel, Lucent Technologies and Marconi. The deal involves the injection of $5 million into EMS-Global from TMT Ventures, a technology investment fund managed by New Zealand based private equity firm, Direct Capital, in joint venture with US based, Advent International.
The deal with TMT Ventures follows last year's investment in EMS-Global by UK investor, 3i, the largest venture capital firm in Europe.
"With 3i, and now TMT Ventures with their corporate investors, EMS-Global possesses truly world class shareholders," says Waynne Dartnall, CEO and Founder of EMS-Global. "We have significant fund contributors among our shareholders, providing us with enormous flexibility and diversity as EMS-Global continues to pursue opportunities in Asia-Pacific, Europe and North America."
Corporate Venturing at work According to Ross George, Chairman of TMT Ventures, the investment in EMS-Global highlights the importance of both capital and global relationships for a fast growing company with international aspirations. "With the EMS-Global deal, TMT Ventures' fourth investment and Direct Capital's third involving 3i as a fellow shareholder, TMT Ventures is now 22% invested. This particular deal is a classic example of corporate venturing. It led to the introduction of the deal by Telecom, assistance with technical due diligence, as well as on-going operational input and assistance in the U.K. expansion. Managed Internet security services is a key sector for each of our corporate partners," he says.
International endorsement for flagship product, EMS Cortex "The investment from TMT Ventures is an outstanding endorsement of EMS-Global's flagship product, EMS Cortex, recognising our international 'best of breed' services and people," says Mr Dartnall. EMS Cortex ensures a secure Internet Protocol (IP) communication platform, allowing service providers, such as telcos, to give customers safe and secure access to a range of value added network services, monitored and managed around the clock.
As a core component of Telecom's 'Safecom', the EMS Cortex technology has been chosen by Telecom Advanced Solutions to underpin the security of its data services delivery to major corporate customers in New Zealand. EMS Cortex is available in Australia through 'SecurePoint', a managed services offering from AAPT, while British Telecom offers EMS Cortex to the United Kingdom market under the 'Ultimus' brand of security offerings. In addition, EMS Cortex is available through the Managed Service Provider (MSP) model in Australia, Asia and Europe.
About EMS-Global EMS-Global is a major telecommunications security and professional services company that designs and builds smart solutions for telcos, service providers, corporate and government organisations in New Zealand, Australia, Europe and Asia.
Founded in 1996 by Chief Executive Officer, Waynne Dartnall, EMS-Global has more than 80 employees working from offices in Auckland, Sydney, Singapore and London.
In 2001, 3i Plc Ltd (www.3i.com), the largest technology venture capital investor in Europe, secured a shareholding in EMS-Global. 3i is a FTSE 100 company and is listed on the London Stock Exchange. The working capital introduced by 3i allowed EMS-Global to accelerate its development activities as well as strengthen operations in Europe, New Zealand and Australia. This has also led to the establishment of new channels for the core technologies created by the company's development group.
More information on EMS-Global Limited and the EMS Cortex technology platform is available at www.ems-global.com
About TMT Ventures Established in 2000, TMT Ventures is a $100m corporate venture capital program which has Telecom New Zealand as its cornerstone investor along with Alcatel, Lucent and Marconi and financial investors. Based in Auckland, TMT Ventures is jointly managed by Direct Capital and US based global private equity investor Advent International. It primarily invests in innovative businesses operating in the technology, media, e-commerce and telecommunications (TMT) sectors of New Zealand and Australia.
TMT is also a short-listed manager for the New Zealand Government's Venture Investment Fund (VIF).
About Direct Capital Direct Capital Private Equity ("Direct Capital") is New Zealand's leading private equity and venture capital firm. Direct Capital manages a series of funds ranging from early-stage through to expansion and buy-out capital. Direct Capital has invested in excess of NZ$150 million since it was established in 1994, and has completed 33 investments, including 15 in the technology sector and seven in start-up companies. Notable successes include Genesis, PC Direct and Blue Star. Twenty-eight institutional investors have invested in Direct Capital, including nine from offshore. Direct Capital also manages a $15 million seed and early stage fund for Carter Holt Harvey. More information can be found at www.directcapital.co.nz
About Advent International
Advent International is a US venture firm with over US$6
billion under management. The firm invests in both early
stage venture capital and later-stage private equity
opportunities in the U.S., Europe, Asia and Latin America.
Advent focuses on high-potential companies in selected
growth industries, including telecommunications, media,
software, electronics, business services, health care and
life sciences. In the past decade, Advent's portfolio
companies have raised over US$8 billion through IPOs and
high-yield debt offerings. For more information, visit