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SOUTHWING RECEIVES €6.000.000, €5M FROM INVERCAT AND SPINNAKER, MANAGED BY GRUPO FINANCIERO RIVA Y G


The main purpose of the investment is to further develop SouthWing´s vision and expertise on intelligent voice interface devices and service platforms, bringing consumers closer to the power of mobile applications and communications. Internationalization is the other main objective of the company; with the funds provided Southwing plans to establish subsidiaries in the United States and in Asia. SouthWing will also increase its focus in strategic areas of the company such as industrial design, as design excellence is one of the core values of the company.

Invercat and Spinnaker have acquired by means of this transaction a minority position in the company. Invercat and Spinnaker will be represented in Southwing’s Board of Directors.
Baker and McKenzie have been the legal advisors for Invercat and Spinnaker and finance due diligence has been made by BDO Audiberia. Company’s legal advisors have been Rousaud Costas Duran, assessors legals I tributaris.

About Southwing S.L.
SouthWing is an innovation-focused company, which develops and markets personal area short range wireless headset, devices and applications for mobile operators. The company's core business is the development of intelligent wireless headsets, devices and service platforms that improve mobile operators Average Revenue per User. The company's success is driven by innovation with a focus on embedded software, the user experience, design, leadership and exceptional quality.
Today SouthWing is Europe's leading Bluetooth solutions provider to Mobile Operators such as Telefónica, Orange, T-Mobile, Vodafone or Cingular. The company has a number of awards for its innovations such as PUSH4, RotaVoice and touch sensitive volume controls. SouthWing´s intuitive interfaces for an ever more complex device environment will lead to a revolution on how consumer electronics devices and mobile applications will be controlled in the future. SouthWing's solutions have been ranked continuously as best in class in demanding markets such as the UK, Germany and USA.
SouthWing was founded in December 2000 by Bart Huisken, with wide experience in the sector acquired in Ericsson with an MBA from INSEAD (Fontainebleau, France). SouthWing has achieved an impressive historic growth with revenues at 0,7M€ in 2003 to 9,5M€ in 2005 and expects revenues to double for 2006. Headquarters are located in Barcelona, with offices in France, UK, Germany and USA and the company has 45 employees. SouthWing commercialises its products worldwide. Its extensive client portfolio is formed by the leading mobile operators in Europe, US and Latin America. SouthWing is a highly flexible, independent company, capable of customising products to each operator’s specific needs in terms of design, embedded technology and easy access to operator services.
To phase a second growth period, a new CEO has been incorporated to Southwing, Matthew Kapp. He has more than 25 years of experience in this industry, holding different positions, such as Vice President of SonyEricsson for Western Europe and before that position, President of 3Com International for EMEA and Asia Pacific, being a member of the Executive Committee.
SouthWing management team comprises former executives from a range of blue-chip technology companies including Ericsson, Nokia, Siemens, Philips and Vodafone, who bring valuable experience and expertise in the development of the company and its products.

Invercat Exterior, F.C.R.
Invercat is a Venture Capital Fund, managed by Grupo Financiero Riva y García, which invests in companies based in Catalonia, with an international component (exports, subsidiaries abroad or an objective to undertake an international expansion in the near future).

Fund volume is 24 Million euros and invests between €1 Million and €3,6Million per transaction. Invercat’s portfolio is composed of 4 companies: MD Soluciones de Identificacion, Indcresa, Indelor Lens Thailand and Grupo CDW.
Invercat’s LP’s are lea


Publisher Contact Information:

SouthWing S.L.
+34 93 530 7200
mhairi.mclauchlan@south-wing.com

Company profile of SouthWing S.L.
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