Teleca is now privately owned

On March 2nd Teleca was de-listed from the Nasdaq OMX Stockholm stock exchange and is now a privately owned company. The new owner is the Symphony Technology Group (STG), who has been a leading shareholder in Teleca since March 2008.

“Having an owner as strong and with as much experience in the industry as Symphony Technology Groups is a major strength for us,” says René Svendsen-Tune, CEO of Teleca. “Symphony’s team has worked closely with us in the Board since March 2008, and we are strongly aligned around the view to the market and the strategy we follow. Our joint focus is now to secure continued positive cash flow in the company and prepare ourselves for new growth as the market place finds its new way forward,” René continues.

The delisting was made at the request of CayTel, a wholly owned subsidiary of STG, following the completion of their public offer to the shareholders of Teleca. STG now controls approximately 93.5% of the shares and approximately 93.9% of the votes in Teleca and has initiated the takeover of the rest of the Teleca shares.

“We look forward to working with STG going forward,” says René. “Being a privately owned company will give us new opportunities and free up time to focus on our customers,” he concludes.