The startup scene is blooming in Central Eastern Europe and success stories could help a lot by inspiring the next generation of entrepreneurs and successful founders also tend to invest in new ventures.  We have asked our friends from the CEE region about remarkable exits and IPOs. Thanks for sharing that. Let’s start with Croatia, Czech Republic, Hungary and Romania. The list is not complete yet, so we would be glad if you could share additional stories in the comments section.

Hungary

Hungarian LogMeIn that provides on-demand, remote-connectivity solutions to small and medium-sized businesses, or SMBs, IT service providers and consumers went public in 2009. It was hitting the markets with an offering that raised $107 million for the remote-services technology provider.Priced at $16 each, the high end of the stock’s IPO price range, LogMeIn (LOGM) shares spiked more than 30 percent to $20.90 shortly after the company made its public debut. The price of LogMeIn share is 17,06 $ today

IndexTools (now Yahoo Analytics) tracks consumer clicks when a visitor loads a Web page that contains IndexTools’ tracking script. The script gathers data about the Web page and visitor and forwards the information to a data center, which processes and archives the data. Indextools was acquired by Yahoo in 2008

MIH Europe, a subsidiary of South African media group Naspers, bought the Hungarian online auction site Vatera.hu for $9 million in 2008.  According to Portfolio.hu news portal, Vatera had 600,000 registered users and reported a turnover of $40 million in 2007.

CEE private equity fund company PortfoLion has closed its exit from Cryo Management  with the sale of the company to Vitrolife in 2012. The sale marks the first successful exit made by a VC company that is part of the JEREMIE I initiative, and is a landmark in the joint European funding program for SMEs. Cryo Management gives Vitrolife strategic access to a host of time-lapse embryo monitoring systems that aid in increasing the chance of fertilization and subsequent pregnancy. The transaction will transfer 100 per cent ownership of Cryo to Vitrolife, giving it access to critical technology and knowledge in in-vitro fertilization and embryonic development.

Croatia

Croatia’s leading telecommunications provider, signed a Share Sale and Transfer Agreement to acquire the entire share capital of Combis, d.o.o. in 2010. The purchase price was between EUR 25.5 million (around HRK 185.3 million) and EUR 31.5 million (around HRK 228.9 million) depending on achievement of business targets for 2010 and 2011.

Alma Media Oyj of Finland acquired Croatian news and entertainment website MojPosao from Tau Online d.o.o., in 2012. The Helsinki-based media publisher also acquired minority stakes in several other news portals in Serbia and Bosnia-Herzegovina.

Czech Republic

In 2013 Cisco announced the completion of its acquistion of Cognitive Security, a privately held, 28 person company headquartered in Prague, Czech Republic. Cognitive Security is focused on applying artificial intelligence techniques to detect advanced cyber threats. Their solution integrates a range of sophisticated technologies to identify and analyze key threats, both external and internal to a customer through advanced behavioral analysis of real-time data.

The acquisition of Cognitive Security reinforces Cisco’s commitment to deliver an intelligent network by providing customers with enhanced security analytics capabilities and differentiated solutions that increase the value of the network.

GoDaddy, the web-hosting and domain registration giant, was also taking one more step into the world of mobile, by acquiring of M.dot, a startup that has developed an iOS mobile app that lets users create mobile websites from the app itself. Financial terms of the deal were not officially disclosed, but according to TechCrunch the sale was in cash and stock and could be worth anywhere from $5 million to $25 million, likely to be around $15 million — depending on GoDaddy’s own IPO plans.
AVG technologies is the maker of one of the most successful pieces of anti-virus software in the world went public in February 2012. They have priced an offering of 8 million shares, 4 million for the company and 4 million for selling holders, at $16 a share. That was at the bottom of the price talk range of $16-18 a share. After the offering, the company had 54.4 million shares out, for an IPO valuation of $870.4 million. Among investor selling shares in the offering were Polish Enterprise Fund, Grisoft Holdings and Intel Capital. TA Associates, with a 28% stake after the offering, is not selling any shares in the IPO.

MIH Allegro, a subsidiary of Naspers Ltd. (JSE: NPN) has completed the acquisition of a controlling stake in Netretail Holding B.V. (Netretail) from existing shareholders including Intel Capital and MCI worth EUR 230 million in 2012. Netretail is a leading online retailer in Central & Eastern Europe with operations in the Czech Republic (www.mall.cz), Slovakia (www.mall.sk), Poland (www.mall.pl), Hungary (www.mall.hu) and Slovenia (www.mimovrste.si)

AVAST Software, developers of the world’s most popular antivirus program, secured an investment bySummit Partners. They  invested $100 million for a minority stake in the company.

Romania

 Microsoft has bought Romania-based antivirus software vendor GeCAD Software for an undisclosed price in 2003. GeCAD Software, made the RAV AntiVirus line of products for Windows and Linux operating systems and applications that include Microsoft Exchange and Novell GroupWise.

Interakt  was acquired by Adobe in 2006 the Romanian development firm was very popular as a result of their Dreamweaver extensions such as MX Kollection, KTML and PHAKT

If you would like to know more about the exit from the VC perspective I would suggest to read this book

Please follow and like:

Leave a Reply

Your email address will not be published.