[Friday, 8 June 2007]

“One of the best technology team I have ever seen”, says Åsa Sundberg Venture Manager for Drutt. “After having conducted hundreds of due diligences for software companies I believe Drutt’s design skills and software support are of top quality and comparable to those of a more mature company”.
 

Customer sensitive
Drutt’s SDP (Service Delivery Platforms) is marketed on a global basis and has proven to be very competitive. The Company’s success is built on sensitiveness to customer needs. Drutt has perfectly balanced development of new products and new versions of products with their customers existing infrastructure, wish to develop certain parts internally and dependence on top quality.

Incentiviced by Telia
Originally Drutt was a joint venture between Telia and Oracle with the aim to build and manage a Mobile content portal.
In 2001 Telia released the Drutt team to a software product company and rewarded the founders by issuing shares to them.

From Vodafone centric to an export success in three years
From the time when Provider funds acquired Oracle's shares in Drutt, the Company has focused on expansion of the sales organization and moved from being a supplier to Vodafone only, to a successful worldwide export Company with a diversified customer portfolio. In parallel with the above activities Drutt expanded its product offering extensively.

Good return on investment
Drutt appears to fit perfectly into the Ericsson product portfolio. This acquisition thus represents a logical step in the future development of Drutt. As to the providers of venture capital this investment can be considered to be very successful, providing a return of close to five times of the original funding.

For more information contact Åsa Sundberg, +46 70 630 72 82, asa.sundberg@providerventure.com

 Pressrelease from Ericsson