Private equity funds news
Horizon Capital Acquires 25% of Ukraine's Datagroup
11.08.10 0:00
Datagroup, the Ukrainian telecom servicing mainly corporate clients, has agreed to sell 25% of its total shares to Horizon Capital for USD 40 million. The new funds are slated by the company to be used in expanding beyond the corporate market. Datagroup will step up efforts to move into the retail sector by acquiring regional fixed network telecoms. The company has previously engaged in the strategy but was forced to slow down due to the economic crisis. Datagroup will work with Horizon Capital to raise up to USD $100 million more over the next several years.
Datagroup (www.datagroup.ua)
Established in 2005, Datagroup is a corporate-focused telecom offering fixed line services including VoIP, telephony, internet access, and digital television. In terms of revenues, it is the country's fourth-largest provider, reaching clients in 20 different cities through a network linking more than 50 Ukrainian cities. Expanding into the retail sector, Datagroup is now beginning to offer dial-up internet access, DSL, and satellite radio and TV. The company is based in Kiev and employs several hundred people.
Horizon Capital (www.horizoncapital.com.ua)
Based in Kyiv, Horizon Capital is a private equity concern focusing on mid-cap opportunities in Belarus, Moldova, and Ukraine. A typical Horizon investment is between $15 million and $40 million in companies willing to give a measure of operational control in return, with a three to four year horizon.
Horizon Capital is a private equity firm with three funds currently being managed: Emerging Europe Growth Fund, LP (EEGF), Emerging Europe Growth Fund II, LP (EEGF II) and Western NIS Enterprise Fund (WNISEF).
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