News

22 March 2006

Polar Electro sells Idesco to Idesco's operative management and Sentica Partners Ltd

Finnish Idesco's ownership transfers from Polar Electro Group to Idesco's operative management and the Venture Capital management company Sentica Partners Ltd. The change of ownership does not have an effect on Idesco business operations and Mr. Jari Valtonen will continue in the position of CEO at Idesco

Idesco Oy is specialised in readers and tags based on RFID (radio frequency identification) technology. Founded in 1989, Idesco is one of the most remarkable companies in the field of RFID technology in Europe. The company offers solutions for instance to access control and logistics applications.

The long term development of Idesco products and business operations will continue

”We are pleased to partner with Sentica. Sentica's business network and business competence will make it possible for us to reach our goals and react to continuous changes in the growing market”, says CEO Jari Valtonen from Idesco. ”Our company has a strong competence, courageous attitude and a strong financial base. The next target is to give a boost to the company for a strong international growth. We are going to continue the long term development of the company and customer relationships”.

Sentica Partners believe that Idesco's profitability continues and the company has good possibilities to growth. Idesco's business is in good condition, and they have a strong customer base. There is a good potential for growth and development - they have a professional and engaged personnel and their business field is growing.”, says Mr. Pentti Tuunala, investment manager of Sentica Partners.

Polar Electro has made it possible for Idesco build a strong base for knowledge and profitability. Idesco is now ready for a remarkable growth, and new arrangements in the owner base of the company will strengthen Idesco's active development and growth in the business field.

Sentica Partners Ltd is a Finnish Venture Capital management company, focusing on small and middle-sized companies Sentica Partners have approximately 110 M€ funds under management. In addition to financing, Sentica offers invested companies access to strong business expertise, business development tools and a extensive partner network.

Polar Electro is the world's leading manufacturer of heart rate monitors and it operates worldwide. The number of Polar personnel is over 1800 employees and its turnover is approximately 170 million euros.

For more information please contact:

Mr. Jari Valtonen
CEO
Idesco Oy
Tel. +358 400 583 467
e-mail: jari.valtonen(at)idesco.fi
www.idesco.fi

Mr. Pentti Tuunala
Investment Manager
Sentica Partners Oy
Tel. +358 400 606078
E-mail: pentti.tuunala(at)sentica.fi
www.sentica.fi