By Joey Gardiner, 8 April 1999 17:37
NEWS Schroder Ventures today announced it will take a 75 per cent stake in Swedish software company, AU-System Group. AU-System has installations in 40 countries, two software businesses - AU-System Mobile and iD2 Technologies Security - and offers a consultancy service. Today's move expands upon Schroder's existing link with the Swedish group, after a $6.5m (£4.1m) investment last year. The deal is part of a continued expansion in Europe from Schroder Ventures in the light of a $1bn European investment fund secured last year. Graham Wrigley, partner at Schroder Ventures, said the company is particularly interested in further IT investments. At the same time, mobile giant Ericsson reduced its 41 per cent share in AU-System to 25 per cent, as part of a move it claimed will allow the company freedom to expand.
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