Estithmaar Ventures TMT Fund has acquired a nine percent stake in Swedish software company StreamServe, which specializes in Enterprise Business Communications. This is the first investment of the 10-year $100 million private equity fund.
Launched in September 2002 by Dubai Government and Germany's Deutsche Bank, the fund is managed from the Dubai Media City (DMC). The fund targets investments in technology, media and telecommunications companies in the Middle East, Europe, the US and the Indian subcontinent.
Founded in Sweden 1995, StreamServe solutions are distributed to over 3,000 customers worldwide and supported in 130 countries. StreamServe alliances include major application vendors, systems integrators and e-business providers such as IBM, SAP, Oracle and Hewlett-Packard. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
