The Czech Office for the Protection of Competition approved the investment of Genesis Capital into the company Servodata. Genesis Capital acquired a majority interest in Servodata effective as of August 31, 2011. This investment is the result of an agreement reached between the established Czech private equity fund and a major Central European provider of information services and communication solutions. The new funding will enable a further expansion of Servodata in its key markets of the Czech Republic and Slovakia.
Under the leadership of the CEO, Rostislav Jirkal, and the current management, Servodata plans to take significant steps towards the realization of its growth strategy with the support of Genesis Capital. Servodata wants to strengthen the position of a leading provider of software services and other types of key infrastructure in the area of information technology. It services a broad range of commercial customers, utilities, financial institutions, educational institutions and the healthcare and government sectors.
“We believe that Servodata, with its experienced management team, a wide customer base and a strong financial background, is well prepared to expand its operations in the Czech and Central European markets,” said Jan Tauber, the Managing Partner of Genesis Capital.
“I am delighted that Servodata will now find itself among other successful businesses that are included in the Genesis Capital’s portfolio of companies,“ commented Rostislav Jirkal, the CEO and the minority shareholder of Servodata. “After the approval of our funding agreement by the Office for the Protection of Competition, nothing stands in the way of realizing the growth opportunities with the support of the strong partner.”
The new members of the board of directors and the supervisory board of Servodata will be announced after the Company’s general meeting, scheduled for the second half of October.
About Genesis Capital
For more than ten years, Genesis Capital has been offering financing to small and midsize companies in the Czech Republic and Slovakia, to support their growth and development. Via its private equity funds, Genesis Capital has already supported more than twenty dynamic Czech and Slovak businesses, many of which have become cutting edge in their chosen field, thanks to their relationship with Genesis Capital. In total, Genesis Capital has provided more than 2 billion Czech crowns in growth capital for companies in the Czech Republic and Slovakia.
Since its inception in 1999, Genesis Capital has managed three private equity funds with a total volume of almost € 100 million. The first two funds have already fully committed their capital. At present, Genesis Private Equity Fund II, with a volume of € 40 million, is open and available to finance prospective investments.The companies into which Genesis Capital has invested include AB Facility, pietro filipi, CCS, ETARGET, Gumotex, Energetické strojírny Brno, Roltechnik, Profimedia, Vydis, GTH CATERING, and others.
In the present environment, marked by difficult access to standard bank financing for small and medium-sized enterprises, Genesis Capital funds provide an advantageous alternative for acquiring the required capital for companies with growth potential; the funds also focus on buy-out financing. Their investors include the European Bank for Reconstruction and Development, Česká spořitelna, and the Belgian investment company Gimv.
Servodata has a long-term specialisation in the company infrastructure sphere. Its portfolio includes storage products and components for data storage, security technologies, and infrastructure software, including licence administration. With consolidated revenues of CZK 1.01 bn, Servodata is among the top thirty ICT companies on the Czech and Slovak markets. Servodata’s dynamically expanding network of business partners includes more than 500 companies.
The company has been certified under the ISO 9001:2000 Quality Management System and the ISO 27001:2005 Information Security Management System, and it has obtained the “SECRET” certification awarded by the National Security Authority. Servodata has a direct relationship to producers and cooperates with partner networks of suppliers of solutions, system integrators, and vendors. Since its establishment in 1991, it has operated in the EMEA region, with its head office in Prague and a branch office in Bratislava.
For more information, see the website www.servodata.net.
Contact for more information:
AC&C Public Relations
Tel.: +420 603 280 863
Account Director, Press Spokesman for Servodata a.s.
Tel.: +420 777 728 084