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Sygnity Sells Web Inn to Enterprise Investors

Posted Wed, 24/06/2009 - 00:00

Polish private equity firm Enterprise Investors has acquired 100% ownership of IT outsourcing company Web Inn. The acquisition was made through Enterprise's Venture Fund I (EVF I) at a cost of PLN 16 million (€3.6 million).

The deal contains provisions that will trigger an additional PLN 4 million payment should the company exceed its 2009 budget. The deal marks the fourth investment by Enterprise in the last six months.

The firm believes IT outsourcing will continue to grow at an annual rate near 15% despite the sluggish economy worldwide.

Web Inn (www.webinn.com.pl)
Established in 2001, Web Inn provides both complete and partial IT services to its clients, based on the specific needs of each. The company is based in Kraków and operates a secure hosting center built partially underground. Web Inn, previously owned by Sygnity, has seen an annual growth rate of approximately 60%; in 2008 the company posted total sales near PLN 22 million.

Enterprise Investors (www.ei.com.pl)
Enterprise Investors was established in 1990 with its initial $240 million Polish-American Enterprise Fund. It is the oldest firm of its kind Poland, managing private equity and venture capital funds in Poland and Central and Eastern Europe. Seven funds have been created in the last eighteen years raising and investing a combine total in excess of €1.7 billion. With more than 90 investments fully exited, the firm has produced profits of more than €1.3 billion.