Deal round up 26/09/02

Axa exits Digiplug; Carlyle, Target lead E10m Cube Optics round

Axa exits Digiplug

French private equity firm Axa Private Equity has completed the disposal of its interest in Digiplug, a French developer of wireless client and network technology. The company has been acquired by Japanese business development company Faith, which has agreed to pay E30m in cash.

Axa’s interest in Digiplug dates back to 1999. It has since made follow-on investments in the firm from its three AXA Placement Innovations Funds. The firm has not disclosed the value of its original investment in Digiplug, although it confirmed in a statement that it had achieved a multiple of 3.7.

Carlyle, Target lead E10m Cube Optics round

The Carlyle Group and Target Partners have led a second round of financing for Munich-based Cube Optics. The new E10m financing round will be used by Cube Optics to extend its product range and develop the company’s markets.

The investment is being made through Carlyle's E650m European venture capital fund, Carlyle Europe Venture Partners, and Target Partner's E112m early stage fund based in Munich. The round also includes follow-on investments from existing investors Sevin Rosen Funds, STAR Ventures and several private investors, who provided seed investment in late 2000.