Atego, the world’s leading provider of software tools and professional services for complex, mission-critical systems and software engineering, today announced that it has secured an additional multi-million dollar equity investment. Existing investor ETV Capital led the financing with the participation of Albion Ventures, the new investor ESO and individual investors. The funds will be used to finance the current Atego growth plan combining organic and external, acquisition-driven growth
“Atego is a unique company with a strong portfolio of software products and professional services used daily by the world’s largest avionics, rail, automotive and defense companies. While the massive $20 billion global market for embedded systems is growing slowly, Atego has shown a winning strategy allowing it to grow profitably and, with this new investment, the company is now well positioned for further expansion. “Neil Pitcher, CEO of ETV Capital, said “With such growth rates, an experienced management team and a good customer list, Atego offers a truly compelling investment opportunity for Software and Systems Engineering. “That’s right.
Founded in December 2009 by the merger of Artisan Software Tools and Aonix, Atego has since acquired three companies in Europe and the United States, better serving its global customers and improving economies of scale.
The Company is also pleased to announce that Richard Horsman has joined the Board as Independent Chairman as part of the fund raising process. Richard is a veteran of the software industry who spent the last 9 years as CEO of Cybit Holdings Plc And before that, he had senior management roles with Global Telematics Plc , Baan Company, Manugustics, Dunn and Bradstreet Software (Geac) He is also currently the non-executive director of Plethora Solutions Holdings Plc. Richard Horsman said, “I am very pleased to join Atego at such an exciting time in the evolution of the business. As a result of our recent investment round, Atego is now well financed and ideally positioned to take advantage of both organic and acquisitive growth opportunities. I look forward to working with the Board as we further develop and deliver on our strategy.
“The continued support we receive from our investors shows strong support for our business plan. We continue to grow our core business profitably, both in existing geographies and in Asia Pacific, while integrating recent acquisitions such as HighRely Inc. And continue to explore the market for additional external growth opportunities,” said Pierre Cesarini, CEO of Atego. “These funds will strengthen our balance sheet, finance our expansion in the fast-growing Chinese market, and better position us to capitalize on acquisition opportunities if they present themselves in the future. “That’s right.
About Atego’s
Atego is the world’s leading software tools and professional services company focused on helping organizations develop complex, mission-and safety-critical systems and software. With today’s systems and software engineering projects steadily increasing in complexity, Atego’s collaborative development
Tools, robust runtime environments, certification know-how and support services enable abstraction, optimization and automation – dramatically increasing quality, safety and productivity.
About the Capital ETV
ETV is one of Europe’s leading providers of debt financing solutions for venture capital-backed technology and healthcare companies. Founded in 1999, ETV has a long and successful track record of investing in technology or intellectual property based companies across Europe and Israel, diversified by industry and development.
http://www: Evcapital Come on,
Albion Ventures
Albion Ventures LLP is a leading independent venture capital investor, managing approximately $360 million over eight Venture Capital Trusts. Albion Ventures LLP is a partnership formed by the management team of Close Ventures to acquire the business of Close Ventures Limited. http://www: Albion-aventures Oh, co Uk: Uk
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