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Rite Ventures invests in Finnish web-hosting company

The newly-started venture capital company, Rite Ventures has made its first investment in the Finnish web-hosting company, Nebula Oy. Besides domain hosting and server solutions, the company also offer ADSL connections via its own backbone network. Nebula has budgeted for a turnover of SEK 85 million for 2007.

"The entrepreneurs behind Nebula are first class. They have focused on tough discipline, which has resulted in rapid growth and impressive profitability. The company operates in a market in which underlying growth is extremely strong and recurring earnings are something we appreciate, says Rite Ventures’ MD Christoffer Häggblom. In addition to capital, we will be able to inject experience of international expansion and acquisitions, says Robert Ahldin, Rite Ventures’ chairman."

Rite Ventures’ investment will enable Nebula to continue to grow at a rapid rate.

"As well as receiving capital from Rite Ventures, we will also obtain extensive competence and a network of contacts. By getting Rite Ventures behind us, we can continue to show strong growth both organically and through acquisitions, says Ville Skogberg, Nebula’s MD."

At present, Nebula are investigating opportunities for expanding into new geographical markets. This will probably take place through the acquisition of local companies. Sweden is one of the countries they are investigating.

"We are always looking for new companies to acquire and, at present, we are investigating the opportunities for this in, among other places, Sweden, Skogberg concludes."

For more information please contact:
Christoffer Hãggblom, MD
Rite Ventures AB
mobile tel: +46 70418 8201
christoffer@riteventures.com

Ville Skogberg, MD
Nebula OY
mobile tel: +358 45 679 0003
ville.skogberg@nebula.fi

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