Ercom: One of Europe biggest fund raising in 2009
Date: Mon, 05/11/2009 - 19:10
Ercom announces one of Europe biggest fund raising in the IT industry in 2009. As a leading telco manufacturer focusing on telecommunications security and network quality, Ercom raises capital to accelerate its internal, external and international development
In association with Capzanine, Ercom’s historical investor, three new investors, Alven, APlus and OTC, joined to reinforce the capital of the company. The capital increase goes up to 12 million euros. Pierre Macquet, Ercom VP strategy, states: “In the current economic context, we are pleased to welcome our new shareholders to support Ercom very dynamic growth. We share common values based on technical excellence and value creation.”
This capital increase will enable the company to accelerate the development of the company core activity and to intensify the international development through the deployment of local support offices next our international customers.
This capital increase completes Ercom’s strong development strategy launched in 2008. Bought in 2007 by its management and Capzanine from its original founder, Ercom has changed its business model from outsourced R&D projects to product manufacturing and development in the test & measurement, and telco security industry. Through a successful reorganization, the turn-over rose by 65% in 2008. This dynamism resulted by a 25% growth of its manpower in 12 months. “The new finds enable Ercom to reinforce its financial assets to match the challenges of organic growth, external development and new international offices especially in Asia and the Americas.” Didier Pagnoux, CEO of Ercom.