Apax, the UK-based private equity investor, is to invest E9.5m in Telcast Media Group, a German provider of interactive content.
Telcast will use the investment over the next two years to establish the Earth Television Network, a global broadcast transmission systems that utilises ISDN lines. Telcast describes the Network as 'an important new strand for broadcasters that has enormous potential to generate new interactive services and revenue opportunities'. Telcast has already invested E5m in its development.
Meanwhile, Apax Partners’ US division has led a $21m investment round for Princeton Softech, a US archive technologies firm. Apax was joined in the funding round by LLR Partners. $16m of the financing will enable Princeton Softech to spin out from its parent company, Computer Horizons, with the remaining $5m contributed as working capital.
Mitchell Hollin of LLR and Apax Partners’ Greg Case and Evangelos Simoudis will join the Princeton Softech board of directors following the financing round. The firm is headquartered in Princeton, New Jersey with offices in Australia, Austria, Holland, Italy, France, Germany, Spain, Switzerland and the United Kingdom.