The investment is definitely a cornerstone for the growth of the company, and comes at an ideal time, explains Tomas Petru, CEO of OTT and multiscreen solutions provider Visual Unity. The $7.2 million investment he refers to might not register among the biggest deals of a frantic period of mergers, acquisitions and investment activity in the sector, but its significance is far reaching for the company's future ambitions.
Visual Unity will use the investment to significantly enhance the growth of its vuMedia product. The aim of this investment is to give us more face time with our customers, says Petru. This will allow us to present vuMedia as the solution that meets their needs in the developing world of individualised media communication. It will also allow us to expand our customer service so that we are even more accessible to support our customers.
The investment by 3TS Capital Partners, the growth capital technology fund, has been financed through its Cisco, ENRD, EIF and OTP backed growth capital fund that specialises in fast growing technology companies. The deal will see 3TS acquire a minority stake in the company.
Our goal was to get a partner, not just funds, and we have achieved that with 3TS, which has a track record of bringing CEE (Central and Eastern Europe) companies to a global scale, he continues. Even during due diligence, which was performed by PwC, we were able to identify and apply improvements to the management processes. Investors empower a company through a strong board. We wanted a partner and we got a partner, and these integrated skills are multiplying the power of the company.
Digital mobility has changed all aspects of communication, education and entertainment, and visual communication (including both video and audio) is key part of that, Petru summarised. This investment puts us in the best possible position and gives us the power to create an even bigger group of happy, profitable customers.
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The investment is definitely a cornerstone for the growth of the company, and comes at an ideal time, explains Tomas Petru, CEO of OTT and multiscreen solutions provider Visual Unity. The $7.2 million investment he refers to might not register among the biggest deals of a frantic period of mergers, acquisitions and investment activity in the sector, but its significance is far reaching for the company's future ambitions.
