CEO Nadahl Shocair confirms focus on new product development and internationalisation
Snom technology AG today announced the aquisition of a new anchor investor. Through its private equity fund II, HeidelbergCapital (www.heidelbergcapital.de) becomes the majority shareholder of snom technology AG. The resulting increase in capital stock is considerable and will lay the groundwork for a consistent expansion course at snom. This new direction is consistent with the plans and aspirations of the new executive team. The new board has three members: Nadahl Shocair (CEO), Thomas Müller-Braun (CFO) and Olivier Gerling (CSO).
“We will use the funds to intensify new product development and to continue to drive internationalisation”, explained Nadahl Shocair. The native Texan has lived in Berlin for decades and is a world renowned expert in business transformation. “snom is already a company with an international focus”, said Shocair. “snom staff come from 15 different countries, we have distributors in more than 50 nations and we already make the lion's share of our sales in countries where German is not the main language.”
HeidelbergCapital purchased shares from former investor Beaufort Capital GmbH in July 2014. Thanks to a capital increase, HeidelbergCapital is now the majority shareholder at snom technology AG. André Deloch, partner at HeidelbergCapital and Chairman of the Board at snom, emphasises the long term growth interests related to the investment. “We do not want to just invest in snom technology AG”, explains André Deloch. “It was important to us to complement the current expansion course by obtaining extensive funding commitments. That is the reason for the capital increase. We want to support the future development of new products and modern software as well as drive international expansion at snom”, added Deloch. “We are of course delighted with the great international team headed by Nadahl Shocair that will shape snom's future.”
Nadahl Shocair, the new CEO at snom, has 25 years of experience in having held key positions that included; Directing Strategist and Interim CEO at Deutsche Telephonwerke AG & Co. KG. (DeTeWe) in both Germany and the UK, interim director at Boomtel Networks in Ascot, England; Executive Director at Centile in Cannes, France; working with Commquest Semiconductor in San Diego, California to facilitate its acquisition by IBM Micro-Electronics and facilitating the launch of Denso’s mobile CDMA telecommunications business in North America through a development partnership with Qualcomm to launch Sprint’s flagship mobile handset ‘Touchpoint’ and previously leading the transformation strategy at Hagenuk Telecom, the company who invented the world’s first internal Planar low radiation antenna for GSM telephones, the world’s first ISDN/DECT semiconductor in partnership with VLSI, the world first multi-cell DECT PBX solutions and the world first internal antenna technology for DECT handsets.
HeidelbergCapital based in Heidelberg, Germany, is an independent Private Equity Funds Group, specialising in Secondary Direct Investments, e.g. the acquisition of shareholdings in companies previously held by private equity/venture capital funds or banks. The portfolio of HeidelbergCapital ranges from investments in later stage technology venture companies with a proven business model to established mid-size operations. As an active partner, HeidelbergCapital supports the companies in strategic business decisions, but also provides, where appropriate, funding for further growth.
For more Information see: http://www.heidelbergcapital.de/fx?fxpage=home&fxlang=en