AirGo is a new air cargo operator, in the process of being licensed in Greece and planning to operate in the Fund’s target region; Greece was chosen as the initial base because of its well-developed and stable regulatory environment.
AirGo addresses a rapidly growing market with unmet needs. Air cargo in the region currently is primarily handled by the regular passenger airlines; there are also a few private airlines focusing primarily on cargo, most of which, however, have recently been delicensed for failing to comply with European Air Safety Agency regulations, following the accession of Bulgaria and Romania to the EU.
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Broad Band Internet Plus (“BBI Plus”) began by acquiring Verat, one of the major ISPs in Serbia, where broadband internet access is growing rapidly and where wireless internet access is very popular; it is expanding and consolidating by investing to accelerate the development of this ISP, while simultaneously proceeding to acquire further players in Serbia and the neighboring countries.
Cable is provided by several providers (mostly in larger cities) but ADSL is still available exclusively through the local PTT; by leading with fixed wireless connections, Wimax and Wi-Fi technologies, BBI Plus is well positioned to capitalize on the growth of the internet and cable markets, as well as the liberalization of the voice market.
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Validata develops, markets, installs and supports an innovative end-to-end testing solution that delivers significant improvements in speed and quality of testing of enterprise software and reduces the total cost of ownership and time to market.
The company’s technology is proprietary and makes the entire testing lifecycle automatic -- from automatically understanding the software to automatically creating and running the test scripts. The company will significantly accelerate its development and expansion, thereby capturing an even bigger share of the large and growing market for testing enterprise software. The company’s development unit is in Bulgaria and its systems integration arm in Romania.
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Cable BIH plans to consolidate the provision of CATV and Internet in Bosnia and Herzegovina (“BIH”). It has already acquired the Monet Group and, as soon as the co-investor group is finalized, it plans to acquire another four concerns.
This consolidation will result in the only CATV operator present in the major population concentrations in BiH, with a combined market share of over 30%. Its size and resources will allow it to seek greater penetration by each acquired operator in its local/regional market and higher average revenue per customer. The new operator will thus be well positioned to repeat the success story of cable in more advanced CEE countries, where cable TV players have made successful inroads into the double-play and triple-play services markets, largely due to their attractive value proposition and their last-mile access.
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