May 15, 2007
With new shareholders, TTTech, the leading supplier of solutions in the field of time-triggered technologies, strengthens the company’s position for further international expansion. After firstVentury and AUDI AG have recently invested in the Vienna-based high-growth enterprise, ATHENA Wien Beteiligungen AG (Wiener Wachstumsfonds) makes an investment of about 4 million Euros to acquire a participation in TTTech.
At the end of 2006 firstVentury was taken in as a strategic financial investor, and AUDI AG acquired a minority participation to intensify its close cooperation with TTTech. Now IPO Wachstumsfonds Beteiligungs-Management GmbH invests in the company by way of its private equity fund ATHENA Wien Beteiligungen AG. Funded by well-known investors, ATHENA Wien Beteiligungen AG invests mostly in technology-oriented Viennese companies with high growth potential.
"Wiener Wachstumsfonds is an Austrian private equity provider that supplies financing to prospective high-growth businesses and young companies with technology- and product-related unique selling propositions," states Harald Schürz, CEO of ATHENA Wien Beteiligungen AG. "TTTech not only provides a mature cross-industry technology but also has an established clientele from different industries. This is why we see a high potential for a great success of TTTech products in the market."
The new shareholders strengthen the basis for the company’s continuous expansion strategy. “The ground has been prepared for the international development of TTTech from a technology leader to market leader”, underlines Georg Kopetz, founding member and CEO of TTTech.
Time-triggered technology, co-developed by TTTech, improves the interaction of electronic networks and increases their reliability in industrial applications. Worldwide market leaders use TTTech’s time-triggered products in commercial production programs for the automotive, aerospace and off-highway industries. Amongst others, TTTech-solutions are used in applications for the Airbus A380 and Boeing 787. TTTech products are also deployed in projects with AUDI AG and in the space industry.
TTTech and its new shareholders will pursue a highly market-oriented expansion and growth policy in the automotive and aerospace industries. Additionally, the product development is to be advanced for industrial automation and medical engineering.
About ATHENA Wien Beteiligungen AG
Wiener Wachstumsfonds, established by well-known investors in 2005, is managed by IPO Wachstumsfonds Beteiligungs-Management GmbH. This investment fund focuses on technology-oriented Vienna enterprises with a high growth potential and acts as a financial partner to supply financing for the expansion of small and medium-sized companies, buy-outs, MBOs or spin-offs.
In addition to its capital, the investment fund brings in its numerous contacts, strategic support management and comprehensive economic know-how.
Further information on ATHENA Wien Beteiligungen AG is available at:
www.wiener-wachstumsfonds.at
Eva Maria Graf
ATHENA Wien Beteiligungen AG
Argentinierstrasse 42/6
A-1040 Vienna, Austria
Tel.: + 43 1 505 63 20-38
Fax: + 43 1 505 63 20-50
E-Mail: graf@ipo-austria.at
