STOCKHOLM — The Swedish venture capital companies Skanditek and Nordstjernan Ventures become part-owners of the Aptilo Networks, one of leading companies in the public hotspot industry. This contribution of capital will enable continued international expansion, including the US market.
Aptilo Networks was formed in the summer of 2001 and focuses on developing and selling systems solutions for public WLAN, whereby users can pay for wireless broadband Internet access connections, i.e. hotspots. Aptilo’s solutions are already in use in fifteen countries in Europe and Asia, in such locations as hotels, conference facilities and airports.
“Despite today’s gloomy investment climate for technology companies, Nordstjernan and Skanditek’s investment in Aptilo shows that there is capital available for investment in economically sound business concepts,” says Torbjörn Wård, CEO of Aptilo Networks.
The capital will contribute to strengthening Aptilo’s position in the market and its continued international expansion, which includes the US.
“We are actively and selectively seeking companies with clear customer benefits, major technological leads, considerable potential and strong management. Aptilo Networks fulfills all of these requirements more than adequately and we have very strong confidence in the company and the market,” says Mats Kraitsik, President of Nordstjernan Ventures.
Following the investment, Nordstjernan Ventures and Skanditek represent the largest individual owners in Aptilo. Even after this contribution the management group and the employees continue to own a majority in the company.
About Aptilo Networks
Aptilo Networks develops and provides system solutions for public wireless Internet access – hotspots – based on the standard 802.11 (WLAN) and provides hotspot services to venue owners, Internet service providers and operators. Aptilo’s suite of solution offers a convenient and effective way to integrate wireless access points and wired connections in an advanced public hot spot environments. The Aptilo platform enables payment via service subscription, credit cards, vouchers and integration with mobile operators to pay with mobile phone subscriptions and with other payment enablers such as iPass and GRIC.
Aptilo was named “Newcomer of the year” at the Swedish yearly Mobile event “Mobilgalan” in the summer of 2002. The company is Stockholm-based, with a regional office for Asia-Pacific in Kuala Lumpur, Malaysia. More information about Aptilo Networks can be found at www.aptilo.com.
Jan Sjönell, VP Sales and Marketing
Aptilo Networks AB
Tel: +46 733 682 682