News

1 September 2005 , by Karin Björkin
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London, Stockholm and Oslo, 1 September, 2005 – Multicom Security (“Multicom”), a GMT Communications Partners (“GMT”) portfolio company, today announced that it has acquired 100 percent of SecuriNet AS, Norway’s leading alarm monitoring services company, from shareholders controlled by and associated with Kistefos AS, a Norwegian investment company.

Based in Lillehammer, SecuriNet is the dominant provider of monitored alarm transmissions within the Norwegian market.  Through its nationwide monitoring network, ALTEL, the Company serves high-end corporate customers such as financial institutions, postal services, public authorities and other industries with high security requirements.  SecuriNet’s customer base of over 20,000 connections is well spread across various industry sectors.  SecuriNet is further well positioned within the Norwegian public and private emergency centers as a leading provider of software application programs supporting operational maintenance of alarms and monitoring systems.

Multicom, a leading Swedish monitored alarm and mobile data company, was acquired by GMT in February 2005. Multicom owns and operates the only nationwide alarm monitoring network in Sweden and also the nationwide Swedish Mobitex mobile data network.
 
Announcing today’s acquisition, Nora Kerppola, Partner of GMT Communications Partners, the leading private equity investor focused on the communications sector in Europe, said: “SecuriNet enjoys a unique position within the Norwegian market.  This acquisition enables GMT to expand upon our recent purchase of Multicom with this attractive investment.  With only 15 percent of the corporate Norwegian alarm transmission market penetrated with monitored solutions, there is significant organic growth potential for the Company through both new and current services.”

Andrew Carver, chief executive officer of Multicom Security, commented:  “The acquisition of SecuriNet provides an important opportunity for us to expand Multicom’s product base and reach within the Scandinavian market for our monitored alarm and mobile data services.  This is particularly advantageous now as Multicom and SecuriNet prepare to launch new, innovative, IP-based and wireless additions to our established range of services.  SecuriNet is a strong company with a solid management team, healthy revenue stream and stable subscriber base.  We expect to achieve R&D, product and operational synergies between Multicom and SecuriNet that will prove beneficial for the growth of both companies and for our further expansion within the region.”

Yngve Wold, chief executive officer of SecuriNet, added: “With GMT and Multicom, SecuriNet joins a partnership with exceptional knowledge of the European market and its communications sector.  For SecuriNet, this partnership also represents a path to additional international market opportunities.  We look forward to expanding into new markets and jointly developing innovative products and services alongside Multicom.  At the same time, this partnership will enable SecuriNet to strengthen our core alarm monitoring business throughout Norway.”
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For more information, please contact:

For GMT
Nora Kerppola, London/+44 20 7292 5310
Erin Burke, New York/+1 631 757 0793
Anthony Payne, London/+44 20 7484 9983

For Multicom Security
Andrew Carver, Chief Executive Officer, Multicom Security AB/ +46 8685 1500

For SecuriNet
Yngve Wold, Chief Executive Officer, SecuriNet AS/  +47 6128 7005,

Notes to Editors:

GMT Communications Partners Limited (GMT) is Europe's largest independent private equity group focused exclusively on the communications sector, having actively invested in the European marketplace for the past decade.  GMT’s founders created the first pan-European fund focused on the media and telecommunications sectors, Baring Communications Equity, in 1992 with the backing of investment banks ING Barings and CEA.  Since that time, the Group has completed 24 investments across 16 countries and has managed a series of successful funds comprising €500 million of capital. The GMT team has been instrumental in organising syndicated portfolio financings - including equity and debt - with a total value in excess of €3.5 billion. GMT closed its latest private equity fund of €365 million at the end of 2000, from which it is still actively investing. Further information is available at www.gmtpartners.com
 

Multicom Security AB markets and develops highly secure and reliable, fixed and mobile data communication services for monitored alarm transmission and mobile data applications. The company owns and operates the Multicom Online network, a monitored, fixed alarm network, and a Mobitex mobile data network for customers with business critical applications in Sweden. Multicom is headquartered in Stockholm with offices in Göteborg, Borås and Eslöv.  More information is available on www.multicomsecurity.se 

SecuriNet AS markets and develops, monitored alarm services through its nation-wide and highly reliable communications network, the ALTEL network.  The ALTEL network has direct connectivity with all national emergency centers.  SecuriNet runs the management of the network on a 24/365 days basis.  A range of complementary products, both software and communication services, is also provided by the company.  SecuriNet is headquartered in Lillehammer with a marketing and sales office in Oslo.  More information (primarily in Norwegian) is available on www.securinet.no