Northzone, CapMan, Priveq and Startupfactory sell their holdings in Silex Microsystems AB, a MEMS foundry, to GAE Ltd
The owners of Silex Microsystems AB have today sold their holdings in Silex Microsystems AB, an independent MEMS (Micro Electro Mechanical Systems) foundry to GAE Ltd, a Hong Kong based investment holding company.
CapMan, Priveq, Northzone and Startupfactory agreed to sell 100% of their respective holdings in Silex Microsystems. Silex founder and CEO, Edvard Kalvesten retains 2% of the shares in the company and continues his role as CEO and board member of Silex.
Northzone V has invested SEK 78.7 million in the company. Through the transaction, Northzone V will receive SEK 111.5 million. Northzone will accordingly make a profit of SEK 32,8 million.
Northzone V made its first investment in Silex in 2008. Founded in 2000, Silex is the world’s leading pure-play MEMS foundry. The company manufactures MEMS components for sensors, actuators and three-dimensional precision structures used in various applications and industries ranging from medical and biotech to telecommunications and consumer electronics. Silex is headquartered in Sweden with subsidiaries in Boston and San Francisco.
“Despite challenging markets, Silex has evolved into a solid market leader in the field of MEMS. It has been a pleasure to work with the Silex team, and we are confident that they will continue their positive development with new owners ” says Tellef Thorleifsson, General Partner in Northzone and responsible for the investment.
“MEMS development is complex and requires expertise and knowledge and we are pleased to have worked with a partner who understands our processes and commitment to our customers. We look forward to continuing our journey in cooperation with a new owner,” says Edvard Kälvesten, CEO at Silex Microsystems.
Source: Northzone Press Release