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Apax backs Infomatec spin off

Internet software specialist Tuxia was set up in 2000 and focuses on internet software applications.

Apax Partners has invested E20m in Tuxia Deutschland GMBH, a company formed by Neuer Markt-listed Infomatec IIS AG. Tuxia is developing application software in the embedded Linux market for the internet.

Peter Blumenwitz of Apax Partners said: “Many companies on the Neuer Markt have technology assets that are not adequately reflected in current market valuations and that are often no longer within the strategic focus of the parent company. The example of Tuxia and Infomatec shows that we are in a position to realise these opportunities at a fair valuation.”

Tuxia focuses on the development and distribution of a Linux-based operating system for internet appliances, in particular user terminals for internet access. It currently employs more than 90 staff worldwide at four locations in Germany, Hong Kong or Taiwan, Tokyo and Sydney.

Apax has invested in a number of companies operating in the fields of internet/e-commerce, information technology, telecommunications, media, healthcare, retail trade and financial services including Autonomy Corporation, Dialog Semiconductors, CenterBeam, Systemonic and Webraska.