EVF invests in Screen Network
Warsaw, 10 February 2011 — Enterprise Venture Fund I (EVF), a venture capital fund managed by Enterprise Investors, will make a capital increase in Screen Network SA to strengthen that company’s position on the market of digital outdoor signage. Enterprise Venture Fund I’s €2 million investment in Screen Network will give the fund a 27% shareholder position. Screen Network is one of the most dynamically growing companies that employs the latest technology to present information and advertising content on digital screens.
Screen Network has been operating since 2005 and services at least 25 advertising networks, which between them have in excess of 31,500 screens in more than 5,000 locations across Poland. The company has contracts with such leading retailers as Media Markt, Saturn, Inmedio, Relay, Baltona, and Wittchen, as well as with TUI, PKP Intercity (Polish long-distance rail operator) and Lukoil (network of filling stations).
Screen Network has developed and uses its own software, Screen Network Manager. The company has an in-house team of marketing, advertising and IT specialists who are well equipped to provide top-quality multimedia communications products and services.
“Since its launch, Screen Network has consistently reinvested its entire profit each year. Thanks to the capital provided by EVF the company will be able to accelerate its growth in key areas of outdoor digital advertising and signage, otherwise known as DOOH Media, or Digital Out-Of-Home Media,” said Marcin Boruta, president of Screen Network.
“Our latest investment confirms that our strategy of injecting capital into innovative companies with excellent growth potential is well judged. This is the ninth investment made by Enterprise Venture Fund, and given the achievements of the Screen Network team under Marcin Boruta’s leadership, I am optimistic that this will be a valuable addition to our portfolio,” commented Enterprise Investors partner Rafał Bator, who heads the EVF team.
According to Maciej Hazubski, president of IQ Partners and Screen Network’s largest shareholder.
“Securing such a credible investor as Enterprise Investors is a good move for Screen Network. Cooperation with this highly experienced business partner will allow the company to reinforce its leadership position among players operating in the outdoor advertising market. The new capital will enable us to realize the three-year development strategy we have prepared for Screen Network.”
For more information about Screen Network, please go to www.screennetwork.pl
More information about IQ Partners is available at www.iqpartners.pl