Monterro, a Nordic investment company with a focus on software, has announced it is now the principal owner of performance marketing network, Tradedoubler, after buying 7.8 million shares.
Just over 18% of the performance marketing network is being acquired from SEB Investment Management, Alecta and the Fourth Swedish National Pension Fund (AP4). In total, the trio have yielded half of their respective holdings.
While it may simply be a movement of pension investments, Monterro does have a history of supporting development and the company’s three managing partners have more than 20 years of experience in technology and software-based businesses.
One of the managing partners at Monterro, Peter Larsson, described how he was hoping to continue the progress and momentum that was so evident in the last set of financials filed by Tradedoubler.
“Together with the management team and the other shareholders, our ambition is to continue developing Tradedoubler so that it matches earlier performance in terms of growth figures and profitability,” said Larsson.
“The company has a stable core business, as well as a leading technical platform and position in the European market. We see considerable potential to strengthen that position and take the company into its next phase of development.”
Tradedoubler president and chief executive officer, Rob Wilson, informed PerformanceIN of how he was eagerly anticipating the possibilities that the performance marketing network’s new ownership might bring about.
“Following this morning’s news, I’m looking forward to the opportunity of working with Monterro, together with the Board, to support our development, which is increasingly focused on growth,” said Wilson.