Viking Internet PLC
10 July 2000
News Item
VIKING INTERNET ACQUIRES 7% STAKE IN EPANI AB
High technology investment vehicle, Viking Internet PLC, which raised £2.0
million in an AIM float this May, has made its eighth and largest investment
to date. The company has acquired a 7% stake in Epani AB for £290,000 (just
over 4 million Swedish Kronor). Epani is an international supplier of complete
IT system solutions for the rapidly developing golf industry, and is extending
its systems into other growing sporting sectors which attract affluent
participants.
Epani is involved with three main golf-related activities. These include five
national portals in Sweden, Germany, Finland, Norway and Denmark operated by
European Golf Web Holding BV. Epanis's own tee time reservation system is
already used by over 600 US golf courses and is being adapted for another
major operator in Florida. Epani has gained over 90% market share of the golf
sector in the Nordic countries with a variety of IT products. These range from
reservations, tournament handling, handicapping, cashier services to course
maintenance management. The company is also an Application Service Provider.
It employs 45 people and has established major offices in Halmstad, Sweden and
Orlando, Florida (USA), as well as representative ones in several other
European countries.
Epani has significant partnership agreements with Ericsson, European Golf Web
Holding BV, Adera AB, the British and International Golf Greenkeepers'
Association, and other prominent golfing operators
Viking Internet's investment represents just over 25 per cent of Epani's
recently completed financing of around £1.2 million (16 m Swedish Kronor).
Epani intends to use the funding to develop its existing businesses and
products and to use the technology to expand into other sporting areas. Epani
has recently signed a contract with the Swedish Equestrian Society, and the
company is in discussions with other potential sports clients.
Viking Internet's Executive Chairman, Erik Wachtmeister, said in Stockholm
today 'Thanks to our exceptional connections we have got in at the base of
what I am sure will be Epani's sharp success curve. We are in company with
some illustrious names in the Nordic region's investment community.'
Peter Sederowsky, who introduced the Epani deal, is a member of Viking
Internet's Investment Advisory Board, and former Chairman of Bidlet AB, which
in March he sold to QXL, of which he is now a director. He explains 'I wanted
Viking Internet to participate in this exclusive opportunity at an important
time for Epani, whose components have been independently assessed as extremely
valuable.'
Viking Internet's website is www.vikinginternet.com. Epani's website is
www.epani.com.
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.