Deal Round-up 25/06/01

Polytechnos and MyQube buy into Nanotron, office furniture specialists Radius Holdings lands £4m and Tornado Insider picks up Nexplora

Wireless innovator Nanotron wins E6.5m backing

PolyTechnos Venture-Partners’ Funds and myQube S.A., together with Danfoss Innovations A/S, the investment arm of the Danish industrial group Danfoss, have invested E6.5m in Berlin-based Nanotron GmbH.

Nanotron has developed a new technology for wireless data transmission that the company says will enable a range of new products to be launched in the areas of mobile communications, long and short-range LAN systems, and WLL (wireless local loop). Nanotron intends to use the proceeds from this financing round to develop low-cost chip solutions incorporating the new technology into applications including wireless sensors and wireless LAN.

PolyTechnos’ founder and managing partner Knut Heitmann, former head of Research and Development at Leitz, commented, “By drastically improving the efficiency and stability of digital data transmission directly at the physical layer, Nanotron’s technology is ideally suited to address the key issues that currently limit wireless communication.”

Lloyds TSB DC buy into Radius Holdings

Lloyds TSB Development Capital has bought a £2m equity stake in Kent based office furniture and flooring distributor, Radius Holdings Ltd and the bank's acquisition finance unit added a further £2m to help further expansion.

The company, founded in 1996, is a distributor and installer of office furniture to major corporations and provides ancillary services such as transportation and storage as part of its offering. Sales increased from £2.5m in 1998 to £11.3m in 2000. Sales for 2001 are predicted to reach in excess of £20m.

Tornado Insider has picked up Italian content provider Nexplora

Nexplora has specialised in covering the technology sector in Europe and seems a ready fit with Amsterdam-based publisher Tornado Insider that has dedicated itself to the new economy.

Although no terms to the deal were revealed, the previous owner of Nexplora, cirlab! – the corporate venture arm for the De Benedetti Group – now has a minority shareholding in Tornado Insider suggesting that a share swap was made. Nexplora's site will take on the Tornado Insider name and will continue to deliver Italian language IT news.