Setera Communications´ share issue completed

Telecoms solutions provider Setera Communications' directed share issue was completed. In the investment round, Setera raised its share capital by 1.5 million euros. All current owners of the company subscribed new shares in proportion to their existing ownership. The successful investment round enables Setera to continue its strong growth.

"During its five years of operation, Setera has grown significantly each year. We're looking for strong growth in the future, as well. In 2012, we aim to geographically expand our sales network by, for example, opening up new sales channels in domestic growth centres. We're now mapping out potential partners. Also, our product and service range will expand", says Setera CEO Tuomo Kiesvaara.

In 2011, Setera's turnover was 12 million euros, which stands for a 62-percent increase compared to the previous year (7.6 million euros).

"Last year we were able significantly to increase our number of customers. Our services are used to integrate fixed line and mobile solutions. In many instances, we have streamlined our customers' business operations and at the same time, increased flexibility and helped lower costs. Thanks to our solutions tailored to customer needs and hard work, we managed significantly to improve our profitability over the year", says Kiesvaara.

Setera specialises in corporate communications solutions and its customer base consists mainly ofsmall and mid-sized companies and their overseas units. The service range covers both innovative VoIP-based services and traditional mobile and fixed line traffic.

Setera's largest individual owner is Nordic Growth, which specialises in Nordic growth companies. Nordic Growth owns 29 percent of Setera. Setera's operational management owns approximately 40 percent of the company. Juho Lipsanen acts as Chairman of Setera's Board of Directors.

Additional information:
Tuomo Kiesvaara, CEO, +358 9 4241 9901