Another Step Forward in the Partnership of KKCG and Foxconn
PRAGUE, March 14, 2017 /PRNewswire/ --
KKCG and Foxconn have received the EU's anti-trust authorities' approval for the creation of their second joint venture, the ETIP investment fund (European Technology Investment Platform), which the two partners intend to establish with a view to investing into and developing technology companies in Europe.
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"The successful launch of the jointly owned SafeDX data center and the excellent results achieved by KKCG and Foxconn through cooperation on technology and business-related issues have motivated us to further develop our partnership. Another step in our collaboration will be establishing a joint fund focused on investing into IT, through which we aim to accelerate investments into the fast-growing information technology segment and such rapidly developing trends as IoT and smart technologies. KKCG possesses the investment know-how and is well familiar with the Czech and Europe-wide IT market. We trust that combining our experience with our partner's size, research and development abilities, and production capacity in Europe and Asia will bring interesting results," explained Head of ICT Martin Chládek who is responsible for the management of the project on KKCG's behalf.
ETIP plans to invest funds up to 100 million Euros into established companies that offer innovative technologies and are in the middle stages of their business lifecycle. Focus will concentrate on medium-sized companies with a high-growth potential. Initially, the fund will seek opportunities in Austria, the Czech Republic, Germany, Poland, and Slovakia. ETIP will purchase a majority stake in companies specializing in smart technologies, data centers, cybersecurity, the Internet of Things, and customer-service platforms. The fund's investments will provide firms with optimal conditions for further growth.
Foxconn
The global leader in the IT service solution's services. The company is Foxconn's regional basis for Europe. For more information, go on http://www.foxconn.cz
KKCG
The KKCG Investment Group holds assets worth over two billion euros and employs more than 2,500 workers. The group's long-term investment strategies focus on crude oil and natural gas production, lotteries, tourism, and new technologies. KKCG holds shares in more than 25 Czech and foreign corporations. KKCG operates in 10 countries worldwide. For more information, go on http://www.kkcg.com
SOURCE KKCG and Foxconn
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